Fiduciary Group LLC reduced its holdings in General Mills, Inc. (NYSE:GIS) by 5.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,004 shares of the company’s stock after selling 590 shares during the quarter. Fiduciary Group LLC’s holdings in General Mills were worth $528,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Paragon Capital Management LLC bought a new stake in General Mills in the first quarter worth approximately $25,000. Royal Fund Management LLC bought a new stake in shares of General Mills during the first quarter valued at approximately $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of General Mills during the first quarter valued at approximately $28,000. RMR Wealth Builders bought a new stake in shares of General Mills during the fourth quarter valued at approximately $30,000. Finally, Firestone Capital Management bought a new stake in shares of General Mills during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 70.30% of the company’s stock.
In other General Mills news, Director R Kerry Clark sold 12,248 shares of the business’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $57.24, for a total value of $701,075.52. Following the transaction, the director now owns 62,945 shares of the company’s stock, valued at $3,602,971.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Bethany C. Quam sold 13,729 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $54.20, for a total value of $744,111.80. Following the completion of the transaction, the insider now directly owns 51,749 shares in the company, valued at approximately $2,804,795.80. The disclosure for this sale can be found here. In the last three months, insiders sold 137,668 shares of company stock worth $8,078,504. Insiders own 0.52% of the company’s stock.
GIS stock traded up $0.01 during midday trading on Friday, hitting $59.96. The company’s stock had a trading volume of 2,089,528 shares, compared to its average volume of 3,313,174. The stock’s 50-day moving average price is $59.48 and its 200 day moving average price is $54.45. The company has a quick ratio of 0.41, a current ratio of 0.64 and a debt-to-equity ratio of 1.47. General Mills, Inc. has a 1 year low of $46.59 and a 1 year high of $64.31. The stock has a market cap of $36.34 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 2.23 and a beta of 0.60.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, March 18th. The company reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.01. General Mills had a return on equity of 26.40% and a net margin of 12.68%. The business had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The business’s revenue was down .4% on a year-over-year basis. As a group, equities analysts forecast that General Mills, Inc. will post 3.58 earnings per share for the current fiscal year.
GIS has been the subject of several recent research reports. Jefferies Financial Group boosted their price objective on General Mills from $56.00 to $61.00 and gave the company a “positive” rating in a report on Thursday. Piper Sandler boosted their price objective on General Mills from $67.00 to $71.00 and gave the company an “outperform” rating in a report on Tuesday. Stifel Nicolaus boosted their price objective on General Mills from $54.00 to $58.00 and gave the company a “hold” rating in a report on Thursday, March 19th. Credit Suisse Group boosted their price objective on General Mills from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, March 18th. Finally, UBS Group boosted their price objective on General Mills from $56.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the stock. General Mills presently has an average rating of “Hold” and an average price target of $59.74.
General Mills Profile
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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