Cigna Investments Inc. New Cuts Position in General Mills, Inc. $GIS

Cigna Investments Inc. New cut its stake in General Mills, Inc. (NYSE:GIS) by 4.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,297 shares of the company’s stock after selling 228 shares during the quarter. Cigna Investments Inc. New’s holdings in General Mills were worth $274,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Perpetual Ltd increased its holdings in shares of General Mills by 3.5% in the 1st quarter. Perpetual Ltd now owns 5,411 shares of the company’s stock valued at $324,000 after acquiring an additional 184 shares during the period. Conning Inc. increased its holdings in shares of General Mills by 4.6% in the 1st quarter. Conning Inc. now owns 4,212 shares of the company’s stock valued at $252,000 after acquiring an additional 185 shares during the period. Benjamin Edwards Inc. increased its holdings in shares of General Mills by 0.4% in the 1st quarter. Benjamin Edwards Inc. now owns 52,298 shares of the company’s stock valued at $3,127,000 after acquiring an additional 185 shares during the period. Eastern Bank increased its holdings in shares of General Mills by 0.8% in the 1st quarter. Eastern Bank now owns 24,817 shares of the company’s stock valued at $1,484,000 after acquiring an additional 186 shares during the period. Finally, SPC Financial Inc. increased its holdings in shares of General Mills by 1.5% in the 1st quarter. SPC Financial Inc. now owns 13,452 shares of the company’s stock valued at $804,000 after acquiring an additional 193 shares during the period. 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 analyst reports. Bank of America cut their price target on General Mills from $63.00 to $61.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Wells Fargo & Company set a $53.00 price objective on General Mills and gave the stock an “equal weight” rating in a research report on Thursday, June 26th. Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. HSBC lowered their price objective on General Mills from $59.00 to $57.00 and set a “hold” rating for the company in a research report on Thursday, September 18th. Finally, Wall Street Zen raised General Mills from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $55.82.

General Mills Stock Performance

Shares of GIS opened at $49.42 on Friday. The stock has a 50-day moving average of $49.78 and a two-hundred day moving average of $53.47. General Mills, Inc. has a one year low of $48.29 and a one year high of $74.98. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66. The stock has a market cap of $26.36 billion, a P/E ratio of 9.34, a P/E/G ratio of 1.29 and a beta of -0.02.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The company had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The firm’s revenue was down 6.8% compared to the same quarter last year. As a group, research analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

Insider Buying and Selling

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of General Mills stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $50.04, for a total transaction of $200,160.00. Following the completion of the sale, the insider owned 66,593 shares of the company’s stock, valued at approximately $3,332,313.72. The trade was a 5.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

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.