Aviva PLC raised its stake in General Mills, Inc. (NYSE:GIS) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,555 shares of the company’s stock after buying an additional 957 shares during the period. Aviva PLC’s holdings in General Mills were worth $11,164,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Paragon Capital Management LLC acquired a new position in shares of General Mills during the first quarter worth $25,000. Royal Fund Management LLC bought a new position in General Mills in the first quarter valued at about $26,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of General Mills during the first quarter valued at about $28,000. RMR Wealth Builders bought a new stake in shares of General Mills during the fourth quarter worth about $30,000. Finally, Firestone Capital Management acquired a new position in shares of General Mills in the fourth quarter valued at approximately $33,000. 70.64% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on GIS. Jefferies Financial Group boosted their target price on shares of General Mills from $56.00 to $61.00 and gave the stock a “positive” rating in a report on Thursday, May 21st. Deutsche Bank raised their target price on General Mills from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Wells Fargo & Co upped their price target on General Mills from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Stifel Nicolaus raised their price objective on General Mills from $54.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, March 19th. Finally, UBS Group lifted their price objective on General Mills from $56.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. General Mills has an average rating of “Hold” and a consensus target price of $60.39.
In other General Mills news, insider Bethany C. Quam sold 13,729 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $54.20, for a total transaction of $744,111.80. Following the transaction, the insider now directly owns 51,749 shares of the company’s stock, valued at approximately $2,804,795.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Shawn P. Ogrady sold 6,187 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $59.95, for a total transaction of $370,910.65. Following the completion of the sale, the insider now owns 134,820 shares in the company, valued at approximately $8,082,459. The disclosure for this sale can be found here. Insiders sold a total of 137,668 shares of company stock worth $8,078,504 over the last 90 days. Corporate insiders own 0.52% of the company’s stock.
NYSE:GIS traded down $1.77 on Thursday, hitting $61.01. The stock had a trading volume of 1,792,361 shares, compared to its average volume of 4,732,583. The company has a market cap of $37.44 billion, a PE ratio of 17.52, a P/E/G ratio of 2.33 and a beta of 0.61. General Mills, Inc. has a 52 week low of $46.59 and a 52 week high of $64.31. The business’s fifty day moving average is $60.94 and its 200 day moving average is $55.33. 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 (NYSE:GIS) last posted its quarterly earnings data on Wednesday, March 18th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.01. General Mills had a net margin of 12.68% and a return on equity of 26.40%. The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the firm earned $0.83 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts predict that General Mills, Inc. will post 3.54 earnings per share for the current fiscal year.
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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