ST Germain D J Co. Inc. Grows Position in General Mills, Inc. (NYSE:GIS)

ST Germain D J Co. Inc. raised its holdings in General Mills, Inc. (NYSE:GIS) by 19.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 320,233 shares of the company’s stock after acquiring an additional 52,496 shares during the period. ST Germain D J Co. Inc. owned approximately 0.06% of General Mills worth $19,147,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GIS. Norges Bank purchased a new stake in shares of General Mills in the 4th quarter valued at about $496,484,000. JPMorgan Chase & Co. raised its holdings in shares of General Mills by 105.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after acquiring an additional 2,926,232 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of General Mills by 34.5% during the 4th quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock valued at $581,903,000 after buying an additional 2,341,137 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of General Mills by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company’s stock valued at $4,376,573,000 after buying an additional 1,868,508 shares in the last quarter. Finally, LSV Asset Management raised its holdings in shares of General Mills by 115.2% during the 4th quarter. LSV Asset Management now owns 2,817,780 shares of the company’s stock valued at $179,690,000 after buying an additional 1,508,680 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

GIS opened at $54.13 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. General Mills, Inc. has a 52-week low of $52.39 and a 52-week high of $75.90. The stock has a market capitalization of $29.84 billion, a PE ratio of 11.77, a price-to-earnings-growth 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 posted its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating 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 firm 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 earned $1.17 earnings per share. The business’s revenue was down 5.1% compared to the same quarter last year. On average, equities research analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

Insider Activity

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

GIS has been the topic of a number of research reports. 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. Piper Sandler decreased their price target on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Citigroup decreased their price target on General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. UBS Group began coverage on General Mills in a research note on Wednesday, April 23rd. They issued a “sell” rating and a $54.00 price target on the stock. Finally, Stifel Nicolaus decreased their price target on General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $64.69.

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.