Wealthfront Advisers LLC Purchases 51,550 Shares of General Mills, Inc. $GIS

Key Points

• Wealthfront Advisers LLC increased its stake in General Mills by 18.3%, adding 51,550 shares to hold 333,915 shares worth about $15.53 million (≈0.06% of the company).
• Several analysts have cut price targets and ratings on GIS, leaving a MarketBeat consensus rating of "Reduce" with a $43.22 consensus target price.
• General Mills missed quarterly estimates, reporting $0.64 EPS vs. $0.73 expected and $4.44B revenue vs. $4.53B expected, with revenue down 8.4% year‑over‑year.

Wealthfront Advisers LLC increased its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 18.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 333,915 shares of the company's stock after acquiring an additional 51,550 shares during the quarter. Wealthfront Advisers LLC owned about 0.06% of General Mills worth $15,527,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC bought a new position in shares of General Mills during the 3rd quarter worth approximately $25,000. Close Asset Management Ltd bought a new position in shares of General Mills during the 3rd quarter worth approximately $28,000. Davis Capital Management bought a new position in shares of General Mills during the 3rd quarter worth approximately $29,000. Salomon & Ludwin LLC raised its stake in shares of General Mills by 1,094.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 645 shares of the company's stock worth $32,000 after acquiring an additional 591 shares in the last quarter. Finally, Financial Consulate Inc. bought a new position in shares of General Mills during the 3rd quarter worth approximately $32,000. Institutional investors own 75.71% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on GIS shares. Mizuho reduced their price objective on shares of General Mills from $47.00 to $39.00 and set a "neutral" rating for the company in a research note on Thursday, March 19th. The Goldman Sachs Group cut their price target on shares of General Mills from $47.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, March 19th. Bank of America lowered shares of General Mills from a "buy" rating to a "neutral" rating and set a $48.00 price target on the stock. in a research note on Monday, February 23rd. Stifel Nicolaus cut their price target on shares of General Mills from $44.00 to $40.00 and set a "buy" rating on the stock in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. cut their price target on shares of General Mills from $42.00 to $36.00 and set an "underweight" rating on the stock in a research note on Thursday, March 19th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $43.22.

General Mills Trading Up 0.2%

Shares of General Mills stock opened at $34.78 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17. General Mills, Inc. has a 12-month low of $34.04 and a 12-month high of $57.08. The firm has a market capitalization of $18.56 billion, a price-to-earnings ratio of 8.50 and a beta of 0.01. The firm's 50 day simple moving average is $38.98 and its two-hundred day simple moving average is $43.94.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly 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 analyst estimates of $4.53 billion. General Mills had a net margin of 12.05% and a return on equity of 19.19%. The company's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS. Analysts predict that General Mills, Inc. will post 3.44 EPS for the current year.

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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