General Mills, Inc. $GIS Shares Sold by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 399,742 shares of the company’s stock after selling 15,728 shares during the quarter. Berkshire Asset Management LLC PA owned 0.07% of General Mills worth $18,588,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GIS. Vermillion & White Wealth Management Group LLC acquired a new position in shares of General Mills during the third quarter worth about $25,000. Bruce G. Allen Investments LLC boosted its holdings in General Mills by 139.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after buying an additional 337 shares in the last quarter. Close Asset Management Ltd purchased a new stake in General Mills during the third quarter worth about $28,000. Zions Bancorporation National Association UT boosted its holdings in General Mills by 248.1% during the fourth quarter. Zions Bancorporation National Association UT now owns 630 shares of the company’s stock worth $29,000 after buying an additional 449 shares in the last quarter. Finally, Activest Wealth Management boosted its holdings in General Mills by 211.7% during the fourth quarter. Activest Wealth Management now owns 695 shares of the company’s stock worth $32,000 after buying an additional 472 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Up 0.4%

Shares of NYSE GIS opened at $34.41 on Wednesday. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $54.18. The company has a market capitalization of $18.37 billion, a PE ratio of 8.41 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. The firm’s 50-day moving average is $34.38 and its two-hundred day moving average is $40.77.

General Mills (NYSE:GIS) last announced 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 net margin of 12.05% and a return on equity of 19.19%. The business had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same period last 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 analysts anticipate that General Mills, Inc. will post 3.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of General Mills from $36.00 to $31.00 and set an “underweight” rating on the stock in a report on Wednesday, June 3rd. Piper Sandler decreased their price objective on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Bank of America decreased their price objective on shares of General Mills from $42.00 to $36.00 and set a “neutral” rating on the stock in a report on Thursday, May 28th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Mills from $38.00 to $32.00 and set a “hold” rating on the stock in a report on Monday, March 30th. Finally, Evercore set a $45.00 price objective on shares of General Mills in a report on Wednesday, February 18th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and seven have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $39.39.

Insider Activity

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 sale, the insider owned 86,002 shares of the company’s stock, valued at $2,947,288.54. This represents a 10.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ricardo Fernandez sold 7,995 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the completion of the sale, the insider directly owned 62,283 shares in the company, valued at $2,148,763.50. This trade represents a 11.38% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by corporate insiders.

General Mills 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.