Capital Research Global Investors Sells 251,027 Shares of General Mills, Inc. $GIS

Capital Research Global Investors lowered its position in shares of General Mills, Inc. (NYSE:GIS) by 8.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,734,427 shares of the company’s stock after selling 251,027 shares during the period. Capital Research Global Investors owned about 0.51% of General Mills worth $127,151,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Marshall Wace LLP bought a new stake in shares of General Mills in the 2nd quarter valued at about $9,188,000. Bank of Nova Scotia grew its position in shares of General Mills by 4.1% in the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock valued at $3,374,000 after buying an additional 2,552 shares during the last quarter. WINTON GROUP Ltd grew its position in shares of General Mills by 112.6% in the 2nd quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock valued at $465,000 after buying an additional 4,752 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of General Mills by 4.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock valued at $4,250,000 after buying an additional 3,814 shares during the last quarter. Finally, Nebula Research & Development LLC grew its position in shares of General Mills by 334.2% in the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock valued at $1,012,000 after buying an additional 15,041 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Insider Activity

In related news, insider Ricardo Fernandez sold 7,995 shares of the company’s stock in a transaction that occurred 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 directly 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 that occurred 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 trade represents a 10.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by corporate insiders.

General Mills Stock Down 0.1%

Shares of General Mills stock opened at $33.13 on Tuesday. General Mills, Inc. has a one year low of $31.75 and a one year high of $55.19. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36. The stock’s 50-day moving average is $34.75 and its 200 day moving average is $41.34. The firm has a market cap of $17.68 billion, a price-to-earnings ratio of 8.10 and a beta of -0.03.

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 net margin of 12.05% and a return on equity of 19.19%. The business had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the previous year, the company earned $1.12 EPS. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. Equities research analysts anticipate that General Mills, Inc. will post 3.43 EPS for the current year.

Analysts Set New Price Targets

GIS has been the topic of a number of analyst reports. Evercore set a $45.00 price target on General Mills in a research report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft reduced their price target on General Mills from $38.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. Sanford C. Bernstein lowered General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price target on the stock. in a research report on Wednesday, June 3rd. UBS Group reduced their price target on General Mills from $35.00 to $30.00 and set a “sell” rating on the stock in a research report on Tuesday, June 2nd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $36.00 price target on shares of General Mills in a research report on Tuesday, June 2nd. Four 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. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $39.39.

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.