Allstate Corp Has $1.67 Million Stock Position in General Mills, Inc. $GIS

Allstate Corp boosted its position in shares of General Mills, Inc. (NYSE:GIS) by 93.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 35,912 shares of the company’s stock after purchasing an additional 17,388 shares during the period. Allstate Corp’s holdings in General Mills were worth $1,670,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Smith Moore & CO. lifted its position in shares of General Mills by 2.6% in the third quarter. Smith Moore & CO. now owns 8,785 shares of the company’s stock worth $443,000 after buying an additional 225 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC increased its stake in shares of General Mills by 1.9% in the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company’s stock worth $565,000 after purchasing an additional 225 shares during the period. Allegheny Financial Group increased its stake in shares of General Mills by 4.8% in the fourth quarter. Allegheny Financial Group now owns 4,904 shares of the company’s stock worth $228,000 after purchasing an additional 226 shares during the period. Stonebridge Capital Advisors LLC increased its stake in General Mills by 0.7% during the second quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company’s stock valued at $1,702,000 after acquiring an additional 226 shares during the period. Finally, Tempus Wealth Planning LLC increased its stake in General Mills by 5.7% during the third quarter. Tempus Wealth Planning LLC now owns 4,297 shares of the company’s stock valued at $217,000 after acquiring an additional 231 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GIS. Morgan Stanley lowered their price target on General Mills from $47.00 to $44.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 18th. UBS Group lowered their price target on General Mills from $40.00 to $35.00 and set a “sell” rating on the stock in a research note on Thursday, March 19th. TD Cowen decreased their price objective on General Mills from $45.00 to $37.00 and set a “hold” rating on the stock in a report on Thursday, March 19th. Stifel Nicolaus decreased their price objective on General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Finally, Evercore set a $45.00 price objective on General Mills in a report on Wednesday, February 18th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, General Mills has an average rating of “Reduce” and an average target price of $41.78.

Insider Buying and Selling at General Mills

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of the company’s 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 transaction, the insider 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s 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 transaction, the insider directly owned 86,002 shares in the company, valued at approximately $2,947,288.54. This represents a 10.42% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is currently owned by corporate insiders.

General Mills Stock Up 0.6%

Shares of GIS opened at $33.86 on Friday. The company has a market capitalization of $18.07 billion, a P/E ratio of 8.28 and a beta of -0.02. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36. General Mills, Inc. has a one year low of $32.64 and a one year high of $55.19. The business’s 50 day simple moving average is $35.30 and its 200-day simple moving average is $42.03.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, March 18th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.09). General Mills had a return on equity of 19.19% and a net margin of 12.05%.The business had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same period in the previous year, the firm earned $1.12 earnings per share. The firm’s revenue was down 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that General Mills, Inc. will post 3.43 EPS for the current fiscal year.

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.