Arrowstreet Capital Limited Partnership Has $192.59 Million Position in General Mills, Inc. $GIS

Arrowstreet Capital Limited Partnership increased its stake in shares of General Mills, Inc. (NYSE:GIS) by 61.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,141,691 shares of the company’s stock after buying an additional 1,573,444 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in General Mills were worth $192,589,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of General Mills in the 4th quarter valued at $361,552,000. Worldquant Millennium Advisors LLC acquired a new stake in shares of General Mills during the 2nd quarter valued at $84,862,000. Two Sigma Investments LP boosted its holdings in shares of General Mills by 82.8% during the 3rd quarter. Two Sigma Investments LP now owns 3,415,818 shares of the company’s stock valued at $172,226,000 after acquiring an additional 1,546,993 shares in the last quarter. LSV Asset Management boosted its holdings in shares of General Mills by 32.4% during the 4th quarter. LSV Asset Management now owns 4,033,350 shares of the company’s stock valued at $187,551,000 after acquiring an additional 986,050 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of General Mills by 18.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,926,607 shares of the company’s stock valued at $275,587,000 after acquiring an additional 935,679 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of General Mills stock opened at $34.47 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17. The business has a 50-day moving average price of $34.51 and a two-hundred day moving average price of $40.95. General Mills, Inc. has a 1-year low of $31.75 and a 1-year high of $55.13. The company has a market cap of $18.40 billion, a P/E ratio of 8.43 and a beta of -0.03.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share 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 business had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same quarter in the previous year, the business posted $1.12 earnings per share. The business’s revenue was down 8.4% on a year-over-year basis. As a group, analysts anticipate that General Mills, Inc. will post 3.42 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GIS. Bank of America cut their price objective on General Mills from $42.00 to $36.00 and set a “neutral” rating on the stock in a report on Thursday, May 28th. Stifel Nicolaus lowered their target price on General Mills from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Zacks Research lowered General Mills from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $36.00 target price on shares of General Mills in a research report on Tuesday, June 2nd. Finally, Evercore set a $45.00 target price on General Mills in a research report on Wednesday, February 18th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat.com, General Mills has a consensus rating of “Reduce” and a consensus target price of $39.39.

Insider Activity

In other news, insider Ricardo Fernandez sold 7,995 shares of the firm’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 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the firm’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 completion of the sale, the insider owned 86,002 shares of the company’s stock, 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. Company insiders own 0.30% of the company’s stock.

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.