Beck Mack & Oliver LLC cut its holdings in shares of General Mills, Inc. (NYSE:GIS) by 33.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,375 shares of the company’s stock after selling 3,750 shares during the quarter. Beck Mack & Oliver LLC’s holdings in General Mills were worth $382,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Acima Private Wealth LLC purchased a new stake in shares of General Mills in the 4th quarter valued at approximately $29,000. We Are One Seven LLC purchased a new stake in shares of General Mills in the 4th quarter valued at approximately $30,000. Legacy Advisors LLC purchased a new stake in shares of General Mills in the 1st quarter valued at approximately $31,000. BDO Wealth Advisors LLC purchased a new stake in shares of General Mills in the 4th quarter valued at approximately $37,000. Finally, Sageworth Trust Co purchased a new stake in shares of General Mills in the 1st quarter valued at approximately $49,000. Institutional investors own 69.16% of the company’s stock.
In related news, insider John R. Church sold 4,719 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $50.78, for a total value of $239,630.82. Following the transaction, the insider now directly owns 34,112 shares of the company’s stock, valued at approximately $1,732,207.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director R Kerry Clark sold 14,836 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $51.57, for a total transaction of $765,092.52. Following the transaction, the director now directly owns 62,211 shares in the company, valued at $3,208,221.27. The disclosure for this sale can be found here. Insiders sold a total of 444,222 shares of company stock worth $21,764,784 over the last ninety days. Insiders own 0.59% of the company’s stock.
NYSE GIS opened at $50.87 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.35 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $30.58 billion, a P/E ratio of 16.36, a P/E/G ratio of 2.17 and a beta of 0.77. General Mills, Inc. has a 12 month low of $36.42 and a 12 month high of $52.17.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, March 20th. The company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.14. The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.21 billion. General Mills had a net margin of 9.26% and a return on equity of 28.11%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $0.79 EPS. On average, research analysts forecast that General Mills, Inc. will post 3.14 EPS for the current fiscal year.
GIS has been the topic of a number of recent analyst reports. ValuEngine raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Deutsche Bank raised shares of General Mills from a “hold” rating to a “buy” rating and increased their price objective for the company from $43.00 to $54.00 in a research report on Thursday, March 14th. TheStreet raised shares of General Mills from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. Standpoint Research downgraded shares of General Mills from a “buy” rating to a “hold” rating in a research report on Thursday, February 21st. Finally, Credit Suisse Group increased their price objective on shares of General Mills from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $49.91.
About General Mills
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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