CoreCap Advisors LLC Sells 955 Shares of General Mills, Inc. (NYSE:GIS)

CoreCap Advisors LLC decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 54.0% in the fourth quarter, Holdings Channel reports. The fund owned 812 shares of the company’s stock after selling 955 shares during the period. CoreCap Advisors LLC’s holdings in General Mills were worth $52,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of General Mills during the fourth quarter valued at about $496,484,000. JPMorgan Chase & Co. raised its position in General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after purchasing an additional 2,926,232 shares in the last quarter. Ameriprise Financial Inc. raised its position in General Mills by 34.5% in the fourth quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock worth $581,903,000 after purchasing an additional 2,341,137 shares in the last quarter. Nepsis Inc. grew its stake in General Mills by 3,504.8% during the fourth quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock worth $138,023,000 after buying an additional 2,104,353 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in General Mills by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company’s stock worth $4,376,573,000 after buying an additional 1,868,508 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Mizuho decreased their price target on shares of General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Citigroup reduced their price objective on shares of General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Jefferies Financial Group increased their target price 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. Stifel Nicolaus cut their target price on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Finally, Piper Sandler dropped 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. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $65.00.

General Mills Stock Performance

Shares of GIS stock opened at $53.43 on Thursday. The company has a market capitalization of $29.45 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.94 and a beta of 0.05. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The company has a 50-day simple moving average of $57.79 and a 200 day simple moving average of $61.04. General Mills, Inc. has a 52 week low of $52.93 and a 52 week high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.04. The business 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%. The business’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.17 EPS. On average, sell-side analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

Insider Activity

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were 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 in the company, valued at approximately $22,967,490. The trade was a 3.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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.