US Bancorp DE Sells 34,660 Shares of General Mills, Inc. $GIS

Key Points

• US Bancorp DE sold 34,660 shares of General Mills in Q4, trimming its stake by 1.9% to 1,742,920 shares (about 0.33% of the company) valued at roughly $81.0 million.
• Analysts have cut targets and ratings recently — MarketBeat shows an average rating of "Reduce" with an average target price of $43.22 amid several downgrades and target cuts.
• General Mills reported Q4 EPS of $0.64 (vs. $0.73 expected) and revenue of $4.44 billion (down 8.4% year-over-year), with a market cap around $18.9 billion and a 52-week range of $34.04–$56.26.

US Bancorp DE lowered its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,742,920 shares of the company's stock after selling 34,660 shares during the quarter. US Bancorp DE owned approximately 0.33% of General Mills worth $81,046,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GIS. Marshall Wace LLP acquired a new position in General Mills during the 2nd quarter valued at about $9,188,000. Bank of Nova Scotia lifted its position in General Mills by 4.1% during the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company's stock valued at $3,374,000 after purchasing an additional 2,552 shares during the period. WINTON GROUP Ltd lifted its position in General Mills by 112.6% during the 2nd quarter. WINTON GROUP Ltd now owns 8,971 shares of the company's stock valued at $465,000 after purchasing an additional 4,752 shares during the period. Daiwa Securities Group Inc. lifted its position in General Mills by 4.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company's stock valued at $4,250,000 after purchasing an additional 3,814 shares during the period. Finally, Nebula Research & Development LLC lifted its position in General Mills by 334.2% during the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company's stock valued at $1,012,000 after purchasing an additional 15,041 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GIS shares. Piper Sandler cut their target price on shares of General Mills from $53.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, March 19th. Evercore set a $45.00 target price on shares of General Mills in a research report on Wednesday, February 18th. Stifel Nicolaus cut their target price on shares of General Mills from $44.00 to $40.00 and set a "buy" rating on the stock in a research report on Tuesday, April 21st. Barclays cut their target price on shares of General Mills from $46.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, March 16th. Finally, Wells Fargo & Company downgraded shares of General Mills from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $35.00 to $33.00 in a research report on Wednesday, April 8th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and an average target price of $43.22.

General Mills Stock Performance

Shares of NYSE:GIS opened at $35.36 on Friday. The company has a market capitalization of $18.87 billion, a price-to-earnings ratio of 8.64 and a beta of 0.01. The firm's 50 day simple moving average is $38.57 and its 200 day simple moving average is $43.81. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36. General Mills, Inc. has a fifty-two week low of $34.04 and a fifty-two week high of $56.26.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.09). The firm had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.53 billion. General Mills had a net margin of 12.05% and a return on equity of 19.19%. The business's revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.12 earnings per share. As a group, sell-side analysts forecast that General Mills, Inc. will post 3.44 earnings per share for the current year.

About General Mills

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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