General Mills, Inc. (NYSE:GIS) Shares Sold by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC reduced its position in shares of General Mills, Inc. (NYSE:GIS) by 94.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,185 shares of the company’s stock after selling 93,483 shares during the period. Cyndeo Wealth Partners LLC’s holdings in General Mills were worth $310,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of General Mills by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company’s stock worth $4,376,573,000 after purchasing an additional 1,868,508 shares in the last quarter. Geode Capital Management LLC boosted its stake in General Mills by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 14,488,451 shares of the company’s stock valued at $923,907,000 after acquiring an additional 136,895 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in General Mills by 34.5% during the 4th quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock valued at $581,903,000 after acquiring an additional 2,341,137 shares during the last quarter. Northern Trust Corp boosted its stake in General Mills by 18.4% during the 4th quarter. Northern Trust Corp now owns 8,061,793 shares of the company’s stock valued at $514,101,000 after acquiring an additional 1,253,483 shares during the last quarter. Finally, Norges Bank bought a new position in General Mills during the 4th quarter valued at $496,484,000. 75.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the stock. UBS Group reduced their price objective on shares of General Mills from $54.00 to $52.00 and set a “sell” rating on the stock in a research note on Friday, June 6th. Piper Sandler reduced their price objective on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Barclays reduced their price objective on shares of General Mills from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 18th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research note on Monday, March 17th. Finally, Morgan Stanley initiated coverage on shares of General Mills in a report on Monday, March 24th. They set an “underweight” rating and a $53.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.06.

General Mills Stock Down 0.9%

GIS stock opened at $53.07 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.24. General Mills, Inc. has a fifty-two week low of $52.39 and a fifty-two week high of $75.90. The firm’s 50-day simple moving average is $55.22 and its 200 day simple moving average is $59.07. The stock has a market cap of $29.25 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.25 and a beta of 0.02.

General Mills (NYSE:GIS) last released its quarterly earnings data 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. General Mills had a net margin of 13.02% and a return on equity of 26.39%. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter last year, the company earned $1.17 EPS. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, sell-side analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

About General Mills

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.