MetLife Investment Advisors LLC reduced its stake in General Mills, Inc. (NYSE:GIS) by 2.6% in the 1st quarter, HoldingsChannel reports. The firm owned 171,247 shares of the company’s stock after selling 4,601 shares during the quarter. MetLife Investment Advisors LLC’s holdings in General Mills were worth $7,716,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of GIS. Victory Capital Management Inc. increased its position in shares of General Mills by 10.3% during the fourth quarter. Victory Capital Management Inc. now owns 207,573 shares of the company’s stock worth $12,307,000 after acquiring an additional 19,393 shares in the last quarter. Wealthstreet Investment Advisors LLC bought a new stake in shares of General Mills during the fourth quarter worth about $425,000. Candriam Luxembourg S.C.A. increased its position in shares of General Mills by 2.8% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 55,765 shares of the company’s stock worth $3,306,000 after acquiring an additional 1,526 shares in the last quarter. Carnick & Kubik Group LLC increased its position in shares of General Mills by 21.0% during the fourth quarter. Carnick & Kubik Group LLC now owns 29,769 shares of the company’s stock worth $1,765,000 after acquiring an additional 5,165 shares in the last quarter. Finally, New Mexico Educational Retirement Board increased its position in shares of General Mills by 3.7% during the fourth quarter. New Mexico Educational Retirement Board now owns 55,512 shares of the company’s stock worth $3,291,000 after acquiring an additional 2,000 shares in the last quarter. 74.66% of the stock is owned by hedge funds and other institutional investors.
NYSE:GIS opened at $44.62 on Thursday. The stock has a market cap of $25.28 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.90 and a beta of 0.77. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.69 and a quick ratio of 0.45. General Mills, Inc. has a fifty-two week low of $41.01 and a fifty-two week high of $60.69.
General Mills declared that its board has authorized a share buyback plan on Friday, February 23rd that permits the company to buyback outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
In other General Mills news, CEO Jeffrey L. Harmening purchased 6,000 shares of General Mills stock in a transaction that occurred on Wednesday, May 23rd. The shares were bought at an average price of $42.18 per share, for a total transaction of $253,080.00. Following the completion of the transaction, the chief executive officer now owns 114,696 shares of the company’s stock, valued at approximately $4,837,877.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.40% of the company’s stock.
GIS has been the topic of several analyst reports. Zacks Investment Research cut shares of General Mills from a “hold” rating to a “sell” rating in a report on Tuesday, April 17th. ValuEngine cut shares of General Mills from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Credit Suisse Group restated a “hold” rating and set a $55.00 price target on shares of General Mills in a report on Tuesday, March 20th. Barclays restated a “hold” rating and set a $48.00 price target on shares of General Mills in a report on Friday, March 23rd. Finally, UBS Group dropped their target price on shares of General Mills from $58.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, March 22nd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $52.71.
General Mills Profile
General Mills, Inc manufactures and markets branded consumer foods in the United States. The company operates in four segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; and Asia & Latin America. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, shelf stable and frozen vegetables, and ice cream and frozen desserts, as well as grain, fruit and savory snacks; and various organic products, including nutrition bars, meal kits, salty snacks, and ready-to-eat cereal.
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