UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $436.61 Million Holdings in General Mills, Inc. (NYSE:GIS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of General Mills, Inc. (NYSE:GIS) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,846,576 shares of the company’s stock after acquiring an additional 561,731 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.24% of General Mills worth $436,606,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of General Mills by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company’s stock worth $4,376,573,000 after acquiring an additional 1,868,508 shares during the period. Geode Capital Management LLC boosted its holdings in shares of General Mills by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 14,488,451 shares of the company’s stock worth $923,907,000 after acquiring an additional 136,895 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of General Mills by 34.5% during the fourth quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock worth $581,903,000 after acquiring an additional 2,341,137 shares during the period. Northern Trust Corp boosted its holdings in shares of General Mills by 18.4% during the fourth quarter. Northern Trust Corp now owns 8,061,793 shares of the company’s stock worth $514,101,000 after acquiring an additional 1,253,483 shares during the period. Finally, Norges Bank bought a new stake in shares of General Mills during the fourth quarter worth approximately $496,484,000. Institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GIS. JPMorgan Chase & Co. reduced their price objective on General Mills from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Mizuho cut their price target on General Mills from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. Piper Sandler cut their price target on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Jefferies Financial Group boosted their price target on General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, March 10th. Finally, UBS Group initiated coverage on General Mills in a research note on Wednesday, April 23rd. They issued a “sell” rating and a $54.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $64.69.

General Mills Stock Down 0.1%

Shares of GIS opened at $54.78 on Wednesday. General Mills, Inc. has a 52 week low of $52.93 and a 52 week high of $75.90. The stock has a market capitalization of $30.20 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.94 and a beta of 0.05. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The stock has a fifty day moving average of $57.23 and a 200-day moving average of $60.62.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the prior year, the company earned $1.17 EPS. General Mills’s revenue was down 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the sale, the chief executive officer now directly owns 353,346 shares in the company, valued at $22,967,490. This represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by corporate insiders.

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.