Affiance Financial LLC Lowers Holdings in General Mills, Inc. (NYSE:GIS)

Affiance Financial LLC trimmed its position in General Mills, Inc. (NYSE:GIS) by 10.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,184 shares of the company’s stock after selling 1,459 shares during the quarter. Affiance Financial LLC’s holdings in General Mills were worth $788,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. CBIZ Investment Advisory Services LLC purchased a new stake in shares of General Mills in the 4th quarter worth $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of General Mills in the 4th quarter worth $31,000. VSM Wealth Advisory LLC purchased a new stake in shares of General Mills in the 4th quarter worth $32,000. Transce3nd LLC purchased a new stake in shares of General Mills in the 4th quarter worth $32,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of General Mills during the 4th quarter worth $34,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GIS. JPMorgan Chase & Co. decreased their price objective on General Mills from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. Bank of America decreased their price objective on General Mills from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Piper Sandler decreased their price objective 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. UBS Group began coverage on General Mills in a research note on Wednesday, April 23rd. They set a “sell” rating and a $54.00 price objective for the company. Finally, Morgan Stanley assumed coverage on General Mills in a research note on Monday, March 24th. They set an “underweight” rating and a $53.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, General Mills presently has a consensus rating of “Hold” and an average target price of $64.69.

General Mills Stock Down 0.2%

Shares of GIS opened at $54.13 on Tuesday. General Mills, Inc. has a 52 week low of $52.39 and a 52 week high of $75.90. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $29.84 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.94 and a beta of 0.05. The stock’s 50-day moving average price is $56.25 and its 200-day moving average price is $59.85.

General Mills (NYSE:GIS) last issued its 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. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the business earned $1.17 earnings per share. The company’s revenue was down 5.1% compared to the same quarter last year. On average, sell-side analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

Insider Transactions at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the 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 owns 353,346 shares in the company, valued at approximately $22,967,490. This represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

About General Mills

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.