AlphaQuest LLC Grows Stake in General Mills, Inc. $GIS

AlphaQuest LLC grew its position in General Mills, Inc. (NYSE:GIS) by 230.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,728 shares of the company’s stock after purchasing an additional 38,162 shares during the quarter. AlphaQuest LLC’s holdings in General Mills were worth $2,545,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings in shares of General Mills by 0.4% during the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock valued at $1,700,060,000 after buying an additional 145,701 shares during the last quarter. Invesco Ltd. grew its holdings in shares of General Mills by 13.0% during the third quarter. Invesco Ltd. now owns 7,664,990 shares of the company’s stock valued at $386,469,000 after buying an additional 883,150 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of General Mills by 22.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company’s stock valued at $384,625,000 after buying an additional 1,383,913 shares during the last quarter. Capital World Investors grew its holdings in shares of General Mills by 0.3% during the third quarter. Capital World Investors now owns 5,585,110 shares of the company’s stock valued at $281,601,000 after buying an additional 16,028 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of General Mills by 2.9% during the third quarter. Legal & General Group Plc now owns 4,111,787 shares of the company’s stock valued at $207,316,000 after buying an additional 115,093 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at General Mills

In other General Mills news, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were 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 approximately $2,947,288.54. This represents a 10.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ricardo Fernandez sold 7,995 shares of the company’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 owned 62,283 shares of the company’s stock, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.30% of the company’s stock.

General Mills Trading Down 1.5%

Shares of General Mills stock opened at $33.17 on Wednesday. The firm has a 50-day simple moving average of $35.50 and a two-hundred day simple moving average of $42.21. The company has a market cap of $17.70 billion, a P/E ratio of 8.11 and a beta of -0.02. General Mills, Inc. has a fifty-two week low of $32.64 and a fifty-two 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.

General Mills (NYSE:GIS) last issued its quarterly earnings data 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). The firm had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.53 billion. General Mills had a return on equity of 19.19% and a net margin of 12.05%.The company’s revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the company posted $1.12 EPS. As a group, equities analysts predict that General Mills, Inc. will post 3.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. TD Cowen decreased their target price on shares of General Mills from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Thursday, March 19th. Bank of America downgraded shares of General Mills from a “buy” rating to a “neutral” rating and set a $48.00 target price for the company. in a research report on Monday, February 23rd. Morgan Stanley decreased their target price on shares of General Mills from $47.00 to $44.00 and set an “underweight” rating for the company in a research report on Wednesday, February 18th. Wells Fargo & Company decreased their target price on shares of General Mills from $33.00 to $30.00 and set an “underweight” rating for the company in a research report on Monday, May 18th. Finally, Royal Bank Of Canada decreased their target price on shares of General Mills from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, March 19th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $42.44.

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.