Swedbank AB Has $35.32 Million Stake in General Mills, Inc. $GIS

Key Points

• Swedbank AB increased its stake in General Mills by 23.8% in the fourth quarter, ending with 759,497 shares valued at about $35.3 million. Institutional investors overall still own a large majority of the company’s stock.
• Two insiders sold shares on May 12: Ricardo Fernandez sold 7,995 shares and Jacqueline Williams-Roll sold 10,000 shares. Both transactions reduced their ownership positions by roughly 10% to 11%.
• General Mills shares were near recent lows, opening at $33.71, while the company’s latest earnings missed expectations with EPS of $0.64 versus $0.73 expected and revenue down 8.4% year over year. Analysts remain cautious, with a consensus rating of “Reduce” and an average target price of $42.44.

Swedbank AB grew its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 23.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 759,497 shares of the company's stock after purchasing an additional 146,122 shares during the period. Swedbank AB owned about 0.14% of General Mills worth $35,317,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new position in shares of General Mills in the 3rd quarter valued at about $25,000. Close Asset Management Ltd acquired a new position in shares of General Mills in the 3rd quarter valued at about $28,000. Binnacle Investments Inc increased its holdings in General Mills by 312.5% in the third quarter. Binnacle Investments Inc now owns 660 shares of the company's stock worth $33,000 after buying an additional 500 shares during the last quarter. Kelleher Financial Advisors acquired a new position in General Mills in the third quarter worth approximately $34,000. Finally, Activest Wealth Management increased its holdings in General Mills by 211.7% in the fourth quarter. Activest Wealth Management now owns 695 shares of the company's stock worth $32,000 after buying an additional 472 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

Insider Buying and Selling

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total transaction of $275,827.50. Following the completion of the sale, the insider owned 62,283 shares of the company's stock, valued at $2,148,763.50. This represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total value of $342,700.00. Following the sale, the insider directly owned 86,002 shares of the company's stock, valued at $2,947,288.54. The trade was a 10.42% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by corporate insiders.

General Mills Stock Up 0.1%

Shares of General Mills stock opened at $33.71 on Monday. The stock has a market capitalization of $17.99 billion, a P/E ratio of 8.24 and a beta of -0.02. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The stock has a 50 day moving average price of $35.74 and a two-hundred day moving average price of $42.39. General Mills, Inc. has a 12-month low of $32.64 and a 12-month high of $55.19.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.09). The company had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.53 billion. General Mills had a return on equity of 19.19% and a net margin of 12.05%.The firm's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 EPS. Equities analysts expect that General Mills, Inc. will post 3.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GIS. Stifel Nicolaus dropped their price objective on General Mills from $44.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, April 21st. Morgan Stanley dropped their price objective on General Mills from $47.00 to $44.00 and set an "underweight" rating on the stock in a report on Wednesday, February 18th. Zacks Research downgraded General Mills from a "hold" rating to a "strong sell" rating in a report on Thursday, February 19th. Evercore set a $45.00 price objective on General Mills in a report on Wednesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on General Mills from $38.00 to $32.00 and set a "hold" rating on the stock in a report on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $42.44.

General Mills Company Profile

General Mills, Inc NYSE: GIS is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company's portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.

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