Jefferies Financial Group Inc. decreased its stake in General Mills, Inc. (NYSE:GIS – Free Report) by 48.8% in the fourth quarter, HoldingsChannel reports. The firm owned 20,308 shares of the company’s stock after selling 19,350 shares during the period. Jefferies Financial Group Inc.’s holdings in General Mills were worth $944,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC acquired a new position in shares of General Mills in 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. Activest Wealth Management lifted its stake in General Mills by 211.7% in the 4th quarter. Activest Wealth Management now owns 695 shares of the company’s stock worth $32,000 after acquiring an additional 472 shares in the last quarter. Binnacle Investments Inc lifted its stake 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 in the last quarter. Finally, Quest 10 Wealth Builders Inc. lifted its stake in General Mills by 190.2% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 737 shares of the company’s stock worth $34,000 after acquiring an additional 483 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.
Insider Transactions at General Mills
In other news, insider Jacqueline Williams-Roll sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the sale, the insider directly owned 86,002 shares of the company’s stock, valued at $2,947,288.54. This trade represents a 10.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ricardo Fernandez sold 7,995 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the sale, the insider directly owned 62,283 shares of the company’s stock, valued at $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by company insiders.
General Mills Stock Down 0.2%
General Mills (NYSE:GIS – Get Free Report) last posted its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). General Mills had a return on equity of 19.19% and a net margin of 12.05%.The firm had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same period last year, the business earned $1.12 earnings per share. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. Equities research analysts forecast that General Mills, Inc. will post 3.43 EPS for the current fiscal year.
Wall Street Analyst Weigh In
GIS has been the subject of several research analyst reports. Bank of America reduced their price objective on General Mills from $42.00 to $36.00 and set a “neutral” rating for the company in a research note on Thursday. BTIG Research initiated coverage on General Mills in a research note on Monday, April 13th. They issued a “neutral” rating for the company. Piper Sandler reduced their price objective on General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Evercore set a $45.00 price objective on General Mills in a research note on Wednesday, February 18th. Finally, Sanford C. Bernstein reduced their price objective on General Mills from $53.00 to $48.00 and set a “market perform” rating for the company in a research note on Wednesday, February 18th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $41.78.
View Our Latest Research Report on GIS
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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