AE Wealth Management LLC boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 76,140 shares of the company’s stock after purchasing an additional 2,638 shares during the period. AE Wealth Management LLC’s holdings in General Mills were worth $4,669,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Koshinski Asset Management Inc. acquired a new stake in General Mills during the 4th quarter worth about $293,000. JustInvest LLC grew its position in shares of General Mills by 5.9% during the 4th quarter. JustInvest LLC now owns 7,546 shares of the company’s stock valued at $444,000 after acquiring an additional 420 shares during the period. Kentucky Retirement Systems acquired a new stake in shares of General Mills during the 4th quarter valued at about $2,227,000. Wolff Wiese Magana LLC acquired a new stake in shares of General Mills during the 4th quarter valued at about $41,000. Finally, M. Kulyk & Associates LLC acquired a new stake in shares of General Mills during the 4th quarter valued at about $2,663,000. 73.17% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on GIS. JPMorgan Chase & Co. dropped their target price on General Mills from $62.00 to $55.00 in a research report on Tuesday, January 19th. Credit Suisse Group decreased their price target on shares of General Mills from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, March 29th. Jefferies Financial Group decreased their price target on shares of General Mills from $64.00 to $59.00 and set a “hold” rating on the stock in a research note on Tuesday, January 12th. Finally, Morgan Stanley decreased their price target on shares of General Mills from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $63.27.
General Mills (NYSE:GIS) last released its quarterly earnings results on Tuesday, March 23rd. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The business had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.45 billion. General Mills had a return on equity of 28.60% and a net margin of 13.16%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 earnings per share. Research analysts predict that General Mills, Inc. will post 3.73 EPS for the current year.
In other news, insider John R. Church sold 25,812 shares of the business’s stock in a transaction that occurred on Wednesday, April 28th. The stock was sold at an average price of $60.81, for a total value of $1,569,627.72. Following the transaction, the insider now owns 75,728 shares of the company’s stock, valued at $4,605,019.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mark A. Pallot sold 1,574 shares of General Mills stock in a transaction on Monday, March 29th. The shares were sold at an average price of $62.49, for a total transaction of $98,359.26. Following the completion of the transaction, the chief accounting officer now owns 13,760 shares in the company, valued at $859,862.40. The disclosure for this sale can be found here. Insiders have sold a total of 72,208 shares of company stock valued at $4,436,830 over the last 90 days. 0.51% of the stock is currently owned by company insiders.
General Mills Company Profile
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, frozen pizza and pizza snacks, snack bars, fruit snacks, nutrition bars, and savory snacks, as well as organic products, including refrigerated yogurt, frozen and shelf-stable vegetables, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
See Also: Accumulation/Distribution
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