ST Germain D J Co. Inc. Increases Stock Position in General Mills, Inc. (NYSE:GIS)

ST Germain D J Co. Inc. lifted its position in General Mills, Inc. (NYSE:GIS - Free Report) by 19.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 320,233 shares of the company's stock after purchasing an additional 52,496 shares during the period. ST Germain D J Co. Inc. owned 0.06% of General Mills worth $19,147,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GIS. JPMorgan Chase & Co. boosted its holdings in shares of General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock valued at $421,552,000 after purchasing an additional 2,926,232 shares during the period. Mediolanum International Funds Ltd lifted its holdings in General Mills by 31.3% during the fourth quarter. Mediolanum International Funds Ltd now owns 12,348 shares of the company's stock worth $781,000 after buying an additional 2,940 shares during the period. Heck Capital Advisors LLC purchased a new stake in General Mills during the fourth quarter worth $38,000. Independence Bank of Kentucky lifted its holdings in General Mills by 85.8% during the fourth quarter. Independence Bank of Kentucky now owns 3,230 shares of the company's stock worth $206,000 after buying an additional 1,492 shares during the period. Finally, JB Capital LLC lifted its holdings in General Mills by 5.4% during the fourth quarter. JB Capital LLC now owns 52,030 shares of the company's stock worth $3,318,000 after buying an additional 2,658 shares during the period. Hedge funds and other institutional investors own 75.71% of the company's stock.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the sale, the chief executive officer now owns 353,346 shares in the company, valued at $22,967,490. This represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Piper Sandler lowered their target price on General Mills from $84.00 to $71.00 and set an "overweight" rating for the company in a report on Tuesday, February 25th. Stifel Nicolaus lowered their target price on General Mills from $72.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada restated a "sector perform" rating and set a $70.00 target price on shares of General Mills in a report on Monday, March 17th. Wells Fargo & Company lowered their target price on General Mills from $64.00 to $61.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. Finally, Bank of America reduced their price target on General Mills from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, General Mills has a consensus rating of "Hold" and an average target price of $64.69.

General Mills Stock Performance

GIS traded up $0.31 on Wednesday, reaching $54.62. 4,287,260 shares of the stock were exchanged, compared to its average volume of 4,513,607. The company's 50-day moving average price is $56.14 and its 200 day moving average price is $59.81. General Mills, Inc. has a fifty-two week low of $52.39 and a fifty-two week high of $75.90. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The firm has a market capitalization of $30.11 billion, a PE ratio of 11.87, a PEG ratio of 1.94 and a beta of 0.05.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, topping 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 company had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the previous year, the firm posted $1.17 EPS. The firm's revenue was down 5.1% compared to the same quarter last year. As a group, sell-side analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

About General Mills

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.