Zweig DiMenna Associates LLC Acquires Shares of 106,160 General Mills, Inc. $GIS

Key Points

• Zweig DiMenna Associates opened a new position in General Mills, buying 106,160 shares valued at about $4.94 million in the fourth quarter.
• Several other institutional investors also adjusted holdings in GIS, and 75.71% of the stock is owned by institutions and hedge funds.
• General Mills has faced softer fundamentals and cautious analyst sentiment: its latest quarterly EPS and revenue both missed estimates, and Wall Street now has a “Reduce” consensus rating with an average price target of $41.78.

Zweig DiMenna Associates LLC acquired a new stake in General Mills, Inc. (NYSE:GIS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 106,160 shares of the company's stock, valued at approximately $4,936,000.

A number of other institutional investors have also recently made changes to their positions in GIS. Marshall Wace LLP acquired a new stake in shares of General Mills in the second quarter worth approximately $9,188,000. Bank of Nova Scotia boosted its stake in shares of General Mills by 4.1% in the second quarter. Bank of Nova Scotia now owns 65,118 shares of the company's stock worth $3,374,000 after acquiring an additional 2,552 shares during the last quarter. WINTON GROUP Ltd boosted its stake in shares of General Mills by 112.6% in the second quarter. WINTON GROUP Ltd now owns 8,971 shares of the company's stock worth $465,000 after acquiring an additional 4,752 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of General Mills by 4.9% in the second quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company's stock worth $4,250,000 after acquiring an additional 3,814 shares during the last quarter. Finally, Nebula Research & Development LLC boosted its stake in shares of General Mills by 334.2% in the second quarter. Nebula Research & Development LLC now owns 19,542 shares of the company's stock worth $1,012,000 after acquiring an additional 15,041 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

General Mills Stock Performance

NYSE GIS opened at $33.82 on Friday. The stock's fifty day moving average is $35.22 and its two-hundred day moving average is $41.97. The firm has a market capitalization of $18.05 billion, a P/E ratio of 8.27 and a beta of -0.02. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56. General Mills, Inc. has a fifty-two week low of $32.64 and a fifty-two week high of $55.19.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings data 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 company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.53 billion. General Mills had a return on equity of 19.19% and a net margin of 12.05%.The business's quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the firm posted $1.12 EPS. On average, research analysts anticipate that General Mills, Inc. will post 3.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. TD Cowen lowered their price target on General Mills from $45.00 to $37.00 and set a "hold" rating on the stock in a research note on Thursday, March 19th. Bank of America lowered their price target on General Mills from $42.00 to $36.00 and set a "neutral" rating on the stock in a research note on Thursday. The Goldman Sachs Group lowered their price objective on General Mills from $47.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, March 19th. Wells Fargo & Company lowered their price objective on General Mills from $33.00 to $30.00 and set an "underweight" rating on the stock in a research note on Monday, May 18th. Finally, Evercore set a $45.00 price objective on General Mills in a research note on Wednesday, February 18th. Four 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $41.78.

General Mills 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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