BNP Paribas Has $3.23 Million Holdings in General Mills, Inc. $GIS

BNP Paribas lifted its stake in General Mills, Inc. (NYSE:GIS) by 7,219.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 69,536 shares of the company’s stock after buying an additional 68,586 shares during the quarter. BNP Paribas’ holdings in General Mills were worth $3,234,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. State Street Corp raised its holdings in shares of General Mills by 0.4% in the 3rd quarter. State Street Corp now owns 33,717,972 shares of the company’s stock worth $1,700,060,000 after buying an additional 145,701 shares in the last quarter. Geode Capital Management LLC raised its position in General Mills by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock valued at $704,170,000 after purchasing an additional 172,200 shares during the last quarter. Norges Bank bought a new position in General Mills in the 4th quarter valued at $361,552,000. Invesco Ltd. raised its position in General Mills by 13.0% in the 3rd quarter. Invesco Ltd. now owns 7,664,990 shares of the company’s stock valued at $386,469,000 after purchasing an additional 883,150 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its position in General Mills by 22.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company’s stock valued at $384,625,000 after purchasing an additional 1,383,913 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Stock Down 0.5%

NYSE:GIS opened at $33.63 on Tuesday. General Mills, Inc. has a 12-month low of $32.64 and a 12-month high of $55.19. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $17.95 billion, a P/E ratio of 8.22 and a beta of -0.03. The stock’s fifty day simple moving average is $35.14 and its 200-day simple moving average is $41.85.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share (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 company had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the prior year, the business earned $1.12 earnings per share. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. Equities research analysts expect that General Mills, Inc. will post 3.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wells Fargo & Company cut their price objective on General Mills from $33.00 to $30.00 and set an “underweight” rating for the company in a research report on Monday, May 18th. JPMorgan Chase & Co. cut their price objective on General Mills from $42.00 to $36.00 and set an “underweight” rating for the company in a research report on Thursday, March 19th. BTIG Research assumed coverage on General Mills in a research report on Monday, April 13th. They issued a “neutral” rating for the company. Morgan Stanley cut their price objective on General Mills from $47.00 to $44.00 and set an “underweight” rating for the company in a research report on Wednesday, February 18th. Finally, Mizuho cut their price objective on General Mills from $47.00 to $39.00 and set a “neutral” 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 given a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus 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 General Mills 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 transaction, the insider directly owned 62,283 shares in the company, valued at approximately $2,148,763.50. The trade was a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction dated 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 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. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is owned by company insiders.

General Mills Company Profile

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.