General Mills, Inc. $GIS Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in shares of General Mills, Inc. (NYSE:GIS) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,802,960 shares of the company’s stock after purchasing an additional 301,724 shares during the period. Bank of New York Mellon Corp’s holdings in General Mills were worth $176,838,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. LBP AM SA acquired a new stake in shares of General Mills during the 4th quarter worth $2,639,000. Oak Thistle LLC acquired a new stake in shares of General Mills during the 4th quarter worth $1,320,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of General Mills by 1,824.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 895,225 shares of the company’s stock worth $41,628,000 after buying an additional 848,712 shares during the last quarter. Korea Investment CORP increased its holdings in shares of General Mills by 161.9% during the 3rd quarter. Korea Investment CORP now owns 333,199 shares of the company’s stock worth $16,800,000 after buying an additional 205,981 shares during the last quarter. Finally, HF Advisory Group LLC increased its holdings in shares of General Mills by 550.2% during the 4th quarter. HF Advisory Group LLC now owns 79,156 shares of the company’s stock worth $3,681,000 after buying an additional 66,981 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. UBS Group dropped their price objective on General Mills from $35.00 to $30.00 and set a “sell” rating for the company in a report on Tuesday. Barclays dropped their price objective on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. Piper Sandler dropped their price objective on General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. JPMorgan Chase & Co. lowered their price target on General Mills from $36.00 to $31.00 and set an “underweight” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company decreased their target price 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. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and seven have given a Sell rating to the company’s stock. According to MarketBeat, General Mills currently has a consensus rating of “Reduce” and an average target price of $39.39.

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 value 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s stock in a transaction on 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 directly owned 86,002 shares in the company, valued at $2,947,288.54. This represents a 10.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by corporate insiders.

General Mills Stock Performance

GIS opened at $33.18 on Friday. The company has a market capitalization of $17.71 billion, a price-to-earnings ratio of 8.11 and a beta of -0.03. 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 1-year low of $31.75 and a 1-year high of $55.19. The business has a 50 day moving average price of $34.81 and a two-hundred day moving average price of $41.48.

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). The company had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.53 billion. General Mills had a net margin of 12.05% and a return on equity of 19.19%. General Mills’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.12 EPS. Research analysts predict that General Mills, Inc. will post 3.43 EPS for the current fiscal year.

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.