Miracle Mile Advisors LLC Grows Position in General Mills, Inc. (NYSE:GIS)

Miracle Mile Advisors LLC raised its position in shares of General Mills, Inc. (NYSE:GIS) by 4.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,903 shares of the company’s stock after acquiring an additional 430 shares during the period. Miracle Mile Advisors LLC’s holdings in General Mills were worth $652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Strategic Financial Concepts LLC purchased a new stake in shares of General Mills in the fourth quarter valued at $873,000. Apollon Wealth Management LLC grew its holdings in General Mills by 8.1% during the 4th quarter. Apollon Wealth Management LLC now owns 23,586 shares of the company’s stock valued at $1,504,000 after purchasing an additional 1,761 shares during the last quarter. Moloney Securities Asset Management LLC raised its position in General Mills by 5.3% in the 4th quarter. Moloney Securities Asset Management LLC now owns 9,249 shares of the company’s stock worth $590,000 after purchasing an additional 462 shares during the period. Entropy Technologies LP bought a new stake in General Mills in the fourth quarter worth about $708,000. Finally, Angeles Wealth Management LLC bought a new stake in General Mills in the fourth quarter worth about $263,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GIS. Stifel Nicolaus dropped their target price on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their price objective on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley began coverage on General Mills in a report on Monday, March 24th. They set an “underweight” rating and a $53.00 price objective on the stock. The Goldman Sachs Group cut General Mills from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $68.00 to $58.00 in a report on Monday. Finally, Jefferies Financial Group increased their price target on General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. 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. Based on data from MarketBeat.com, General Mills has an average rating of “Hold” and a consensus target price of $63.44.

General Mills Price Performance

Shares of NYSE GIS opened at $54.47 on Wednesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. General Mills, Inc. has a fifty-two week low of $52.39 and a fifty-two week high of $75.90. The firm has a market capitalization of $30.02 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 1.94 and a beta of 0.02. The stock’s 50-day simple moving average is $55.63 and its 200-day simple moving average is $59.50.

General Mills (NYSE:GIS) last announced its earnings results 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 return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the prior year, the firm earned $1.17 EPS. The business’s revenue was down 5.1% on a year-over-year basis. As a group, equities research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Company 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.