General Mills, Inc. (NYSE:GIS) Holdings Decreased by Advocate Group LLC

Advocate Group LLC reduced its stake in General Mills, Inc. (NYSE:GIS) by 2.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 512,097 shares of the company’s stock after selling 11,027 shares during the quarter. General Mills comprises about 5.6% of Advocate Group LLC’s portfolio, making the stock its largest holding. Advocate Group LLC’s holdings in General Mills were worth $30,618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of GIS. O Shaughnessy Asset Management LLC lifted its stake in shares of General Mills by 11.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 834,417 shares of the company’s stock worth $53,211,000 after buying an additional 85,612 shares during the period. Franklin Resources Inc. raised its stake in General Mills by 10.6% in the 4th quarter. Franklin Resources Inc. now owns 484,550 shares of the company’s stock worth $30,900,000 after acquiring an additional 46,536 shares during the last quarter. Ameriprise Financial Inc. raised its stake in General Mills by 34.5% in the 4th quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock worth $581,903,000 after acquiring an additional 2,341,137 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in General Mills by 7.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 72,949 shares of the company’s stock worth $4,652,000 after acquiring an additional 4,839 shares during the period. Finally, Sequoia Financial Advisors LLC grew its stake in General Mills by 15.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 43,114 shares of the company’s stock valued at $2,749,000 after purchasing an additional 5,853 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on GIS shares. Piper Sandler cut their price target 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. Morgan Stanley assumed coverage on shares of General Mills in a research note on Monday, March 24th. They issued an “underweight” rating and a $53.00 price objective on the stock. The Goldman Sachs Group cut shares of General Mills from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $68.00 to $58.00 in a report on Monday, June 9th. Bank of America decreased their target price on shares of General Mills from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Citigroup cut their price target on General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $62.75.

General Mills Trading Up 0.1%

GIS stock opened at $53.00 on Friday. 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 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.24. The firm has a market cap of $29.21 billion, a P/E ratio of 11.65, a PEG ratio of 1.25 and a beta of 0.02. The company’s 50-day simple moving average is $54.93 and its 200-day simple moving average is $58.84.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.99 billion. General Mills had a return on equity of 26.39% and a net margin of 13.02%. General Mills’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.17 EPS. As a group, equities analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

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.