Nuveen Asset Management LLC Lowers Position in General Mills, Inc. (NYSE:GIS)

Nuveen Asset Management LLC cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 47.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,193,861 shares of the company’s stock after selling 1,073,856 shares during the period. Nuveen Asset Management LLC owned about 0.22% of General Mills worth $76,133,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Endeavor Private Wealth Inc. purchased a new position in General Mills during the fourth quarter valued at $26,000. CBIZ Investment Advisory Services LLC bought a new stake in General Mills during the fourth quarter valued at about $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in General Mills during the fourth quarter valued at about $31,000. VSM Wealth Advisory LLC bought a new stake in General Mills during the fourth quarter valued at about $32,000. Finally, Transce3nd LLC bought a new stake in General Mills during the fourth quarter valued at about $32,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GIS has been the topic of a number of recent analyst reports. Barclays decreased their price target on General Mills from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 18th. Morgan Stanley initiated coverage on General Mills in a report on Monday, March 24th. They set an “underweight” rating and a $53.00 price target on the stock. Wells Fargo & Company decreased their price target on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Monday, March 17th. Finally, Citigroup decreased their price target on General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $64.69.

Insiders Place Their Bets

In other General Mills 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 sale, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at $22,967,490. The trade was a 3.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by insiders.

General Mills Trading Up 1.4%

Shares of GIS stock opened at $55.14 on Friday. The stock’s 50-day moving average price is $57.43 and its 200-day moving average price is $60.81. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 12-month low of $52.93 and a 12-month high of $75.90. The stock has a market capitalization of $30.39 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 1.94 and a beta of 0.05.

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

General Mills 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.