Rhumbline Advisers Buys 60,480 Shares of General Mills, Inc. (NYSE:GIS)

Rhumbline Advisers grew its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 5.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,186,047 shares of the company's stock after buying an additional 60,480 shares during the period. Rhumbline Advisers owned 0.22% of General Mills worth $70,914,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TCW Group Inc. boosted its stake in General Mills by 0.8% during the fourth quarter. TCW Group Inc. now owns 23,061 shares of the company's stock worth $1,471,000 after acquiring an additional 194 shares in the last quarter. Quadrant Private Wealth Management LLC lifted its holdings in shares of General Mills by 3.7% during the fourth quarter. Quadrant Private Wealth Management LLC now owns 5,579 shares of the company's stock valued at $356,000 after purchasing an additional 197 shares during the last quarter. Howard Capital Management Inc. boosted its position in shares of General Mills by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 3,916 shares of the company's stock worth $250,000 after purchasing an additional 198 shares in the last quarter. Byrne Asset Management LLC grew its stake in shares of General Mills by 20.0% in the 4th quarter. Byrne Asset Management LLC now owns 1,200 shares of the company's stock worth $77,000 after buying an additional 200 shares during the last quarter. Finally, Bogart Wealth LLC increased its position in General Mills by 5.2% during the 4th quarter. Bogart Wealth LLC now owns 4,055 shares of the company's stock valued at $259,000 after buying an additional 201 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GIS has been the subject of several analyst reports. Citigroup reduced their price target on General Mills from $60.00 to $58.00 and set a "neutral" rating for the company in a report on Friday, March 14th. JPMorgan Chase & Co. decreased their target price on shares of General Mills from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. Wells Fargo & Company cut their price target on shares of General Mills from $64.00 to $61.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Morgan Stanley began coverage on shares of General Mills in a research report on Monday, March 24th. They set an "underweight" rating and a $53.00 price target for the company. Finally, UBS Group started coverage on General Mills in a research report on Wednesday, April 23rd. They issued a "sell" rating and a $54.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $64.69.

General Mills Stock Performance

Shares of GIS traded down $0.13 during trading hours on Thursday, hitting $54.48. The stock had a trading volume of 3,707,823 shares, compared to its average volume of 4,518,375. The firm has a market capitalization of $30.03 billion, a PE ratio of 11.84, a PEG ratio of 1.94 and a beta of 0.05. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. General Mills, Inc. has a 12 month low of $52.39 and a 12 month high of $75.90. The stock has a fifty day moving average price of $56.05 and a 200 day moving average price of $59.78.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the company posted $1.17 EPS. The business's quarterly revenue was down 5.1% compared to the same quarter last year. Analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

Insider Activity at General Mills

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now owns 353,346 shares in the company, valued at $22,967,490. This trade represents a 3.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.