Comerica Bank Decreases Stock Holdings in General Mills, Inc. (NYSE:GIS)

Comerica Bank lessened its holdings in General Mills, Inc. (NYSE:GIS) by 3.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 156,867 shares of the company’s stock after selling 6,278 shares during the quarter. Comerica Bank’s holdings in General Mills were worth $10,003,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Endeavor Private Wealth Inc. purchased a new stake in shares of General Mills in the fourth quarter worth about $26,000. CBIZ Investment Advisory Services LLC acquired a new stake in General Mills in the fourth quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of General Mills during the fourth quarter valued at approximately $31,000. VSM Wealth Advisory LLC acquired a new position in shares of General Mills during the fourth quarter worth $32,000. Finally, Transce3nd LLC purchased a new position in shares of General Mills in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GIS. Piper Sandler cut their price objective on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price target on General Mills from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Citigroup dropped their price objective on General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Jefferies Financial Group increased their target price on General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, March 10th. Finally, Bank of America dropped their price target 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. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, General Mills has a consensus rating of “Hold” and a consensus price target of $65.00.

General Mills Trading Down 0.3 %

NYSE:GIS opened at $55.42 on Friday. General Mills, Inc. has a 12-month low of $55.01 and a 12-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 business has a 50 day simple moving average of $58.90 and a 200 day simple moving average of $61.87. The firm has a market capitalization of $30.55 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.94 and a beta of 0.15.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.96 by $0.04. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the firm earned $1.17 earnings per share. The company’s quarterly revenue was down 5.1% on a year-over-year basis. Equities research analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the transaction, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at $22,967,490. This represents a 3.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by insiders.

General Mills Company 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.