Intech Investment Management LLC trimmed its position in General Mills, Inc. (NYSE:GIS – Free Report) by 23.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 67,039 shares of the company’s stock after selling 20,631 shares during the period. Intech Investment Management LLC’s holdings in General Mills were worth $3,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GIS. Vermillion & White Wealth Management Group LLC acquired a new position in General Mills in the 3rd quarter valued at $25,000. Close Asset Management Ltd acquired a new position in General Mills in the 3rd quarter valued at $28,000. Activest Wealth Management grew its holdings in General Mills by 211.7% in the 4th quarter. Activest Wealth Management now owns 695 shares of the company’s stock valued at $32,000 after buying an additional 472 shares in the last quarter. Binnacle Investments Inc grew its holdings in General Mills by 312.5% in the 3rd quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock valued at $33,000 after buying an additional 500 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. grew its holdings in General Mills by 190.2% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 737 shares of the company’s stock valued at $34,000 after buying an additional 483 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.
General Mills Stock Performance
GIS opened at $33.07 on Wednesday. The firm has a market cap of $17.65 billion, a P/E ratio of 8.09 and a beta of -0.03. General Mills, Inc. has a 52-week low of $32.64 and a 52-week high of $55.19. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56. The business’s fifty day moving average is $35.14 and its 200-day moving average is $41.85.
Insider Buying and Selling at General Mills
In other news, insider Ricardo Fernandez sold 7,995 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total transaction of $275,827.50. Following the sale, the insider directly owned 62,283 shares of the company’s stock, valued at approximately $2,148,763.50. This represents a 11.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total value of $342,700.00. Following the sale, the insider directly owned 86,002 shares in the company, valued at approximately $2,947,288.54. This trade 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.
Analyst Upgrades and Downgrades
A number of research analysts have commented on GIS shares. Zacks Research lowered General Mills from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Piper Sandler decreased their price objective on General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Bank of America decreased their price objective on General Mills from $42.00 to $36.00 and set a “neutral” rating on the stock in a report on Thursday, May 28th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $36.00 price objective on shares of General Mills in a report on Tuesday. Finally, UBS Group decreased their price objective on General Mills from $35.00 to $30.00 and set a “sell” rating on the stock in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $41.28.
Read Our Latest Analysis on GIS
About General Mills
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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Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS – Free Report).
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