Snowden Capital Advisors LLC Cuts Position in General Mills, Inc. (NYSE:GIS)

Snowden Capital Advisors LLC cut its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 5.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 80,526 shares of the company's stock after selling 4,800 shares during the period. Snowden Capital Advisors LLC's holdings in General Mills were worth $5,135,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GIS. Norges Bank purchased a new position in General Mills during the fourth quarter worth about $496,484,000. JPMorgan Chase & Co. increased its position in shares of General Mills by 105.2% during 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 during the last quarter. Ameriprise Financial Inc. increased its position in shares of General Mills by 34.5% during 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 during the last quarter. Nepsis Inc. increased its position in shares of General Mills by 3,504.8% during 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 during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of General Mills by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company's stock valued at $4,376,573,000 after acquiring an additional 1,868,508 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Down 0.1%

Shares of General Mills stock traded down $0.05 during trading hours on Tuesday, hitting $54.78. The company had a trading volume of 5,662,163 shares, compared to its average volume of 4,510,496. The company's 50-day moving average is $57.33 and its two-hundred day moving average is $60.66. General Mills, Inc. has a twelve month low of $52.93 and a twelve month high of $75.90. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The company has a market cap of $30.20 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 1.94 and a beta of 0.05.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.04. The firm 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 quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 EPS. Analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on GIS. Barclays dropped their price target on shares of General Mills from $68.00 to $65.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 18th. Stifel Nicolaus lowered their price objective 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. Piper Sandler lowered their price objective on shares of General Mills from $84.00 to $71.00 and set an "overweight" rating for the company in a research note on Tuesday, February 25th. Bank of America lowered 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 note on Thursday, March 20th. Finally, Jefferies Financial Group boosted their price target on shares of General Mills from $58.00 to $62.00 and gave the stock a "hold" rating in a report on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, General Mills currently has an average rating of "Hold" and an average price target of $64.69.

Insider Buying and Selling

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the company's stock in a transaction on Friday, March 7th. The shares were 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 in the company, valued at approximately $22,967,490. This represents a 3.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

About General Mills

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.