Livforsakringsbolaget Skandia Omsesidigt lessened its stake in shares of General Mills, Inc. (NYSE:GIS – Get Rating) by 44.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,060 shares of the company’s stock after selling 3,300 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in General Mills were worth $274,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new stake in shares of General Mills during the third quarter worth approximately $5,244,000. Calamos Advisors LLC raised its stake in shares of General Mills by 4.0% during the fourth quarter. Calamos Advisors LLC now owns 198,995 shares of the company’s stock worth $13,408,000 after purchasing an additional 7,704 shares during the last quarter. Desjardins Global Asset Management Inc. purchased a new position in General Mills in the fourth quarter worth $3,149,000. Echo Wealth Management LLC raised its position in General Mills by 28.1% in the fourth quarter. Echo Wealth Management LLC now owns 19,992 shares of the company’s stock worth $1,375,000 after acquiring an additional 4,389 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its position in General Mills by 3.6% in the third quarter. GHP Investment Advisors Inc. now owns 54,638 shares of the company’s stock worth $3,268,000 after acquiring an additional 1,906 shares in the last quarter. Institutional investors and hedge funds own 74.63% of the company’s stock.
Shares of GIS stock opened at $69.14 on Wednesday. The firm has a market cap of $41.64 billion, a P/E ratio of 18.44, a PEG ratio of 2.30 and a beta of 0.45. General Mills, Inc. has a 1-year low of $56.67 and a 1-year high of $73.99. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.74 and a quick ratio of 0.49. The firm’s 50-day simple moving average is $69.36 and its 200-day simple moving average is $67.33.
In related news, insider Shawn P. Ogrady sold 43,565 shares of the firm’s stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $71.90, for a total value of $3,132,323.50. Following the transaction, the insider now owns 87,554 shares in the company, valued at $6,295,132.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jacqueline Williams-Roll sold 10,911 shares of the firm’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $68.61, for a total transaction of $748,603.71. Following the completion of the transaction, the insider now owns 33,878 shares in the company, valued at approximately $2,324,369.58. The disclosure for this sale can be found here. Insiders sold 81,633 shares of company stock worth $5,768,339 in the last 90 days. 0.53% of the stock is currently owned by insiders.
Several research analysts have issued reports on GIS shares. Deutsche Bank Aktiengesellschaft increased their price objective on General Mills from $71.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, March 24th. JPMorgan Chase & Co. cut their price objective on General Mills from $67.00 to $64.00 and set a “neutral” rating for the company in a research report on Tuesday, March 22nd. UBS Group initiated coverage on General Mills in a research report on Wednesday, March 30th. They issued a “neutral” rating and a $69.00 price objective for the company. StockNews.com upgraded shares of General Mills from a “hold” rating to a “buy” rating in a research report on Thursday, March 24th. Finally, Piper Sandler raised their target price on shares of General Mills from $74.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, March 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $67.09.
About General Mills (Get Rating)
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.
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