New England Asset Management Inc. Sells 5,850 Shares of General Mills, Inc. (NYSE:GIS)

New England Asset Management Inc. reduced its position in General Mills, Inc. (NYSE:GIS - Free Report) by 16.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,170 shares of the company's stock after selling 5,850 shares during the period. New England Asset Management Inc.'s holdings in General Mills were worth $1,924,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. RFG Advisory LLC increased its stake in General Mills by 2.6% in the 4th quarter. RFG Advisory LLC now owns 6,668 shares of the company's stock valued at $425,000 after purchasing an additional 172 shares in the last quarter. TCW Group Inc. increased its stake in General Mills by 0.8% in the 4th quarter. TCW Group Inc. now owns 23,061 shares of the company's stock valued at $1,471,000 after purchasing an additional 194 shares in the last quarter. Quadrant Private Wealth Management LLC increased its stake in General Mills by 3.7% in the 4th quarter. Quadrant Private Wealth Management LLC now owns 5,579 shares of the company's stock valued at $356,000 after purchasing an additional 197 shares in the last quarter. Howard Capital Management Inc. increased its position in General Mills by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 3,916 shares of the company's stock worth $250,000 after buying an additional 198 shares in the last quarter. Finally, Byrne Asset Management LLC increased its position in General Mills by 20.0% during the fourth quarter. Byrne Asset Management LLC now owns 1,200 shares of the company's stock worth $77,000 after buying an additional 200 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Mills

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the sale, the chief executive officer now owns 353,346 shares in the company, valued at approximately $22,967,490. This represents a 3.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company's stock.

General Mills Stock Up 1.4%

General Mills stock traded up $0.74 during midday trading on Friday, hitting $55.14. 3,904,014 shares of the company were exchanged, compared to its average volume of 4,491,332. The company has a market cap of $30.39 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 1.94 and a beta of 0.05. General Mills, Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $75.90. The company's fifty day moving average price is $57.57 and its 200-day moving average price is $60.95. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67.

General Mills (NYSE:GIS - Get Free Report) last posted its 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 net margin of 13.08% and a return on equity of 27.55%. The business had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the previous year, the company posted $1.17 earnings per share. The business's revenue for the quarter was down 5.1% compared to the same quarter last year. On average, research analysts predict that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on GIS shares. Barclays cut their target price on shares of General Mills from $68.00 to $65.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 18th. Royal Bank of Canada reissued a "sector perform" rating and set a $70.00 price objective on shares of General Mills in a research note on Monday, March 17th. Stifel Nicolaus lowered their target price on shares of General Mills from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Mizuho cut their price target on General Mills from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. Finally, Wells Fargo & Company decreased their price objective on General Mills from $64.00 to $61.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $64.69.

General Mills Profile

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.