Diamond Hill Capital Management Inc. trimmed its position in shares of General Mills, Inc. (NYSE:GIS – Free Report) by 11.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,755,061 shares of the company’s stock after selling 873,360 shares during the quarter. General Mills comprises 1.6% of Diamond Hill Capital Management Inc.’s holdings, making the stock its 21st biggest holding. Diamond Hill Capital Management Inc.’s holdings in General Mills were worth $314,110,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Vermillion & White Wealth Management Group LLC purchased a new position in shares of General Mills during the 3rd quarter valued at $25,000. Close Asset Management Ltd purchased a new stake in General Mills in the 3rd quarter worth about $28,000. Binnacle Investments Inc increased its holdings in General Mills by 312.5% in the 3rd quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock worth $33,000 after acquiring an additional 500 shares during the last quarter. Kelleher Financial Advisors bought a new stake in General Mills in the 3rd quarter valued at about $34,000. Finally, Activest Wealth Management lifted its holdings in General Mills by 211.7% during the fourth quarter. Activest Wealth Management now owns 695 shares of the company’s stock valued at $32,000 after purchasing an additional 472 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.
General Mills Price Performance
GIS stock opened at $33.46 on Friday. The firm has a 50 day moving average of $35.88 and a 200-day moving average of $42.48. The firm has a market capitalization of $17.85 billion, a P/E ratio of 8.18 and a beta of -0.02. General Mills, Inc. has a 12 month low of $32.64 and a 12 month high of $55.19. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on GIS shares. UBS Group cut their target price on shares of General Mills from $40.00 to $35.00 and set a “sell” rating for the company in a research report on Thursday, March 19th. Barclays dropped their price target on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, May 11th. Royal Bank Of Canada cut their price objective on shares of General Mills from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, March 19th. Morgan Stanley reduced their price objective on shares of General Mills from $47.00 to $44.00 and set an “underweight” rating for the company in a research note on Wednesday, February 18th. Finally, Piper Sandler lowered their target price on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, General Mills has an average rating of “Reduce” and an average target price of $42.44.
Check Out Our Latest Analysis on GIS
Insider Buying and Selling at General Mills
In related news, insider Ricardo Fernandez sold 7,995 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total transaction of $275,827.50. Following the completion of the transaction, the insider directly owned 62,283 shares in the company, valued at $2,148,763.50. The trade was a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the transaction, the insider owned 86,002 shares in the company, valued at $2,947,288.54. This represents a 10.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.30% of the company’s stock.
General Mills Company Profile
General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.
Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.
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