NorthRock Partners LLC Purchases Shares of 8,565 General Mills, Inc. (NYSE:GIS)

NorthRock Partners LLC acquired a new stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,565 shares of the company's stock, valued at approximately $546,000.

A number of other institutional investors have also modified their holdings of the business. Norges Bank bought a new position in General Mills in the 4th quarter worth about $496,484,000. JPMorgan Chase & Co. boosted its holdings in shares of General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock valued at $421,552,000 after acquiring an additional 2,926,232 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of General Mills by 34.5% in the fourth quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company's stock valued at $581,903,000 after acquiring an additional 2,341,137 shares in the last quarter. Nepsis Inc. boosted its holdings in shares of General Mills by 3,504.8% in the fourth quarter. Nepsis Inc. now owns 2,164,395 shares of the company's stock valued at $138,023,000 after acquiring an additional 2,104,353 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of General Mills by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company's stock worth $4,376,573,000 after buying an additional 1,868,508 shares in the last quarter. Institutional investors own 75.71% of the company's stock.

General Mills Stock Performance

GIS stock traded down $0.05 during trading hours on Tuesday, hitting $54.78. 5,662,163 shares of the stock were exchanged, compared to its average volume of 4,501,611. The company has a 50-day simple moving average of $57.33 and a two-hundred day simple moving average of $60.66. The firm has a market capitalization of $30.20 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.94 and a beta of 0.05. General Mills, Inc. has a 12 month low of $52.93 and a 12 month high of $75.90. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.04. The business had revenue of $4.84 billion during 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%. General Mills's revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.17 earnings per share. On average, analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GIS. Citigroup lowered their price objective on shares of General Mills from $60.00 to $58.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Piper Sandler dropped their price target on General Mills from $84.00 to $71.00 and set an "overweight" rating on the stock in a report on Tuesday, February 25th. 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 decreased their target price on General Mills from $72.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. Finally, Morgan Stanley assumed coverage on General Mills in a report on Monday, March 24th. They set an "underweight" rating and a $53.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $64.69.

Insiders Place Their Bets

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 353,346 shares of the company's stock, valued at approximately $22,967,490. The trade was a 3.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.