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

Fisher Asset Management LLC lessened its position in shares of General Mills, Inc. (NYSE:GIS) by 23.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,698 shares of the company’s stock after selling 18,611 shares during the quarter. Fisher Asset Management LLC’s holdings in General Mills were worth $2,869,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new position in shares of General Mills during the 3rd quarter worth $25,000. Close Asset Management Ltd acquired a new position in shares of General Mills during the 3rd quarter worth $28,000. Binnacle Investments Inc raised its stake in shares of General Mills by 312.5% during the 3rd quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock worth $33,000 after buying an additional 500 shares during the last quarter. Kelleher Financial Advisors purchased a new stake in General Mills during the 3rd quarter worth about $34,000. Finally, Activest Wealth Management increased its position in General Mills by 211.7% during the 4th quarter. Activest Wealth Management now owns 695 shares of the company’s stock worth $32,000 after purchasing an additional 472 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Up 0.6%

Shares of NYSE:GIS opened at $33.86 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56. General Mills, Inc. has a 1 year low of $32.64 and a 1 year high of $55.19. The stock has a market capitalization of $18.07 billion, a P/E ratio of 8.28 and a beta of -0.02. The stock has a 50-day simple moving average of $35.30 and a 200-day simple moving average of $42.03.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). General Mills had a return on equity of 19.19% and a net margin of 12.05%.The firm had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. Equities analysts forecast that General Mills, Inc. will post 3.43 earnings per share for the current year.

Insider Transactions at General Mills

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the sale, the insider owned 86,002 shares in the company, valued at approximately $2,947,288.54. The trade was a 10.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ricardo Fernandez sold 7,995 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the sale, the insider owned 62,283 shares of the company’s stock, valued at $2,148,763.50. The trade was a 11.38% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GIS. Mizuho dropped 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. The Goldman Sachs Group lowered their price target on General Mills from $47.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, March 19th. Royal Bank Of Canada lowered their price target on General Mills from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, March 19th. TD Cowen lowered their price target on General Mills from $45.00 to $37.00 and set a “hold” rating for the company in a report on Thursday, March 19th. Finally, Sanford C. Bernstein lowered their price target on General Mills from $53.00 to $48.00 and set a “market perform” rating for the company in a report on Wednesday, February 18th. Four investment 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.com, the stock currently has a consensus rating of “Reduce” and an average price target of $41.78.

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.