Man Group plc Sells 59,530 Shares of General Mills, Inc. (NYSE:GIS)

Man Group plc trimmed its holdings in shares of General Mills, Inc. (NYSE:GIS) by 22.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 210,612 shares of the company’s stock after selling 59,530 shares during the period. Man Group plc’s holdings in General Mills were worth $13,431,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of General Mills by 1.2% in the 3rd quarter. Barclays PLC now owns 1,634,280 shares of the company’s stock worth $120,691,000 after purchasing an additional 19,290 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after purchasing an additional 2,926,232 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in shares of General Mills by 9.4% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 6,211 shares of the company’s stock valued at $396,000 after purchasing an additional 534 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of General Mills by 54.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 342,761 shares of the company’s stock valued at $21,858,000 after purchasing an additional 120,334 shares during the last quarter. Finally, Avanza Fonder AB bought a new position in shares of General Mills during the 4th quarter worth $3,676,000. 75.71% of the stock is currently owned by institutional investors.

General Mills Price Performance

Shares of General Mills stock opened at $55.14 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The business’s 50 day simple moving average is $57.43 and its two-hundred day simple moving average is $60.81. The stock has a market capitalization of $30.39 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 1.94 and a beta of 0.05. General Mills, Inc. has a one year low of $52.93 and a one year high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 EPS. Analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. The trade was a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GIS shares. Wells Fargo & Company cut their price target on General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Stifel Nicolaus dropped their price target on General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Jefferies Financial Group lifted their price target on General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, March 10th. Morgan Stanley initiated coverage on General Mills in a report on Monday, March 24th. They set an “underweight” rating and a $53.00 price objective on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a report on Monday, March 17th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $64.69.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, 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 savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.