Northern Trust Corp Raises Stake in General Mills, Inc. (NYSE:GIS)

Northern Trust Corp grew its position in General Mills, Inc. (NYSE:GIS - Free Report) by 18.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 8,061,793 shares of the company's stock after acquiring an additional 1,253,483 shares during the period. Northern Trust Corp owned 1.46% of General Mills worth $514,101,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Quarry LP acquired a new stake in shares of General Mills during the fourth quarter valued at about $58,000. Coldstream Capital Management Inc. raised its stake in shares of General Mills by 21.2% during the fourth quarter. Coldstream Capital Management Inc. now owns 15,133 shares of the company's stock valued at $965,000 after acquiring an additional 2,644 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of General Mills by 1.1% during the fourth quarter. Voya Investment Management LLC now owns 306,181 shares of the company's stock worth $19,525,000 after purchasing an additional 3,440 shares during the period. Integrated Wealth Concepts LLC grew its stake in shares of General Mills by 52.8% in the fourth quarter. Integrated Wealth Concepts LLC now owns 22,900 shares of the company's stock worth $1,460,000 after purchasing an additional 7,911 shares during the last quarter. Finally, MGO One Seven LLC raised its position in General Mills by 3.9% during the 4th quarter. MGO One Seven LLC now owns 33,342 shares of the company's stock worth $2,126,000 after purchasing an additional 1,247 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GIS shares. JPMorgan Chase & Co. lowered their price objective on General Mills from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Bank of America decreased their price objective on shares of General Mills from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Stifel Nicolaus dropped their target price on shares of General Mills from $72.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. Morgan Stanley initiated coverage on shares of General Mills in a research report on Monday, March 24th. They set an "underweight" rating and a $53.00 price target on the stock. Finally, UBS Group assumed coverage on General Mills in a research report on Wednesday, April 23rd. They set a "sell" rating and a $54.00 target price on the stock. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $65.00.

General Mills Stock Down 0.3 %

Shares of General Mills stock traded down $0.16 during trading hours on Friday, reaching $55.42. The company's stock had a trading volume of 3,512,083 shares, compared to its average volume of 4,410,944. The company has a market capitalization of $30.55 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.94 and a beta of 0.15. The stock's fifty day simple moving average is $58.90 and its two-hundred day simple moving average is $61.87. General Mills, Inc. has a one year low of $55.01 and a one year high of $75.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.04. The business had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.17 EPS. On average, research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

Insider Buying and Selling at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $65.00, for a total value 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 trade represents a 3.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company's stock.

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.