Capital Research Global Investors Has $127.15 Million Stock Position in General Mills, Inc. $GIS

Capital Research Global Investors reduced its position in shares of General Mills, Inc. (NYSE:GIS) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,734,427 shares of the company’s stock after selling 251,027 shares during the quarter. Capital Research Global Investors’ holdings in General Mills were worth $127,151,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GIS. Marshall Wace LLP acquired a new position in General Mills during the 2nd quarter worth approximately $9,188,000. Bank of Nova Scotia raised its stake in General Mills by 4.1% during the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock worth $3,374,000 after buying an additional 2,552 shares during the period. WINTON GROUP Ltd raised its stake in General Mills by 112.6% during the 2nd quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock worth $465,000 after buying an additional 4,752 shares during the period. Daiwa Securities Group Inc. raised its stake in General Mills by 4.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock worth $4,250,000 after buying an additional 3,814 shares during the period. Finally, Nebula Research & Development LLC raised its stake in General Mills by 334.2% during the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock worth $1,012,000 after buying an additional 15,041 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Stock Performance

Shares of GIS opened at $33.13 on Tuesday. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $17.68 billion, a price-to-earnings ratio of 8.10 and a beta of -0.03. The stock has a 50 day moving average of $34.75 and a 200 day moving average of $41.34. General Mills, Inc. has a 12 month low of $31.75 and a 12 month high of $55.19.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). The business had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.53 billion. General Mills had a net margin of 12.05% and a return on equity of 19.19%. The business’s revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.12 earnings per share. As a group, sell-side analysts forecast that General Mills, Inc. will post 3.43 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Mizuho lowered their price objective on General Mills from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, March 19th. Stifel Nicolaus lowered their price objective on General Mills from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Barclays lowered their price objective on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Mills from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Finally, Morgan Stanley lowered their price objective on General Mills from $37.00 to $32.00 and set an “underweight” rating for the company in a research note on Friday. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $39.39.

Insider Buying and Selling

In related news, insider Ricardo Fernandez sold 7,995 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total transaction of $275,827.50. Following the completion of the sale, the insider directly owned 62,283 shares of the company’s stock, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the sale, the insider directly owned 86,002 shares of the company’s stock, valued at $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.30% of the company’s stock.

General Mills Company Profile

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.