Signaturefd LLC Boosts Stock Position in General Mills, Inc. $GIS

Key Points

• Signaturefd LLC increased its stake in General Mills by 37.1% in Q2 2023, holding 23,460 shares valued at approximately $1.215 million.
• Several institutional investors also boosted their positions in General Mills, with Charles Schwab increasing its holdings by 434.8% in the first quarter.
• Analysts have mixed views on General Mills, with four rated as "Buy" and twelve as "Hold," while the average target price is $55.82.

Signaturefd LLC lifted its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 37.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,460 shares of the company's stock after purchasing an additional 6,343 shares during the period. Signaturefd LLC's holdings in General Mills were worth $1,215,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in shares of General Mills by 434.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company's stock valued at $1,138,473,000 after acquiring an additional 15,480,835 shares during the period. Ameriprise Financial Inc. grew its position in shares of General Mills by 8.1% in the first quarter. Ameriprise Financial Inc. now owns 9,864,819 shares of the company's stock valued at $589,814,000 after purchasing an additional 741,432 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of General Mills by 4.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,161,951 shares of the company's stock worth $428,213,000 after buying an additional 315,375 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of General Mills by 10.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,986,128 shares of the company's stock worth $417,674,000 after buying an additional 634,393 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of General Mills by 6.9% during the 1st quarter. Invesco Ltd. now owns 6,403,879 shares of the company's stock valued at $382,888,000 after purchasing an additional 414,768 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the company's stock in a transaction on Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the transaction, the insider owned 66,593 shares of the company's stock, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on GIS. Bank of America cut their price target on shares of General Mills from $63.00 to $61.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. The Goldman Sachs Group downgraded shares of General Mills from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $68.00 to $58.00 in a research note on Monday, June 9th. Royal Bank Of Canada raised General Mills from a "sector perform" rating to an "outperform" rating and lowered their price target for the company from $67.00 to $63.00 in a research report on Thursday, June 26th. UBS Group dropped their target price on shares of General Mills from $49.00 to $47.00 and set a "sell" rating for the company in a research report on Thursday, September 18th. Finally, Zacks Research upgraded General Mills from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 2nd. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, General Mills has an average rating of "Hold" and a consensus target price of $55.82.

General Mills Stock Up 1.3%

GIS stock opened at $50.09 on Monday. General Mills, Inc. has a twelve month low of $48.29 and a twelve month high of $74.98. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The stock has a market cap of $26.72 billion, a P/E ratio of 9.47, a PEG ratio of 1.26 and a beta of -0.02. The business's 50-day moving average price is $49.77 and its 200-day moving average price is $53.30.

General Mills (NYSE:GIS - Get Free Report) last released its earnings results on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The company had revenue of $4.52 billion for the quarter, compared to analysts' expectations of $4.52 billion. During the same quarter last year, the business earned $1.07 EPS. The firm's revenue was down 6.8% compared to the same quarter last year. On average, equities research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

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.

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