Signet Financial Management LLC Has $1.02 Million Position in General Mills, Inc. (NYSE:GIS)

Signet Financial Management LLC lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 84.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 17,091 shares of the company’s stock after buying an additional 7,848 shares during the quarter. Signet Financial Management LLC’s holdings in General Mills were worth $1,022,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GIS. CBIZ Investment Advisory Services LLC acquired a new stake in General Mills in the 4th quarter worth about $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in General Mills during the 4th quarter worth $31,000. Transce3nd LLC acquired a new position in shares of General Mills in the fourth quarter valued at approximately $32,000. VSM Wealth Advisory LLC bought a new position in shares of General Mills during the fourth quarter valued at $32,000. Finally, Perkins Coie Trust Co grew its stake in shares of General Mills by 69.2% in the first quarter. Perkins Coie Trust Co now owns 516 shares of the company’s stock worth $31,000 after purchasing an additional 211 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Price Performance

Shares of NYSE:GIS opened at $54.47 on Wednesday. The stock has a market cap of $30.02 billion, a PE ratio of 11.84, a PEG ratio of 1.94 and a beta of 0.02. The company’s fifty day moving average is $55.63 and its 200 day moving average is $59.50. General Mills, Inc. has a 52 week low of $52.39 and a 52 week high of $75.90. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the company earned $1.17 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. Research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GIS. The Goldman Sachs Group cut shares of General Mills from a “buy” rating to a “neutral” rating and cut their price target for the company from $68.00 to $58.00 in a research report on Monday. Barclays dropped their price target on shares of General Mills from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 18th. Stifel Nicolaus decreased their price objective on shares of General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Piper Sandler decreased their price target on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Finally, Mizuho decreased their price target on shares of General Mills from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, General Mills presently has an average rating of “Hold” and a consensus price target of $63.44.

General Mills 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.