ExodusPoint Capital Management LP Invests $24.93 Million in General Mills, Inc. $GIS

ExodusPoint Capital Management LP bought a new stake in General Mills, Inc. (NYSE:GIS) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 536,031 shares of the company’s stock, valued at approximately $24,925,000.

Several other large investors have also modified their holdings of GIS. LBP AM SA acquired a new position in shares of General Mills in the 4th quarter worth approximately $2,639,000. Oak Thistle LLC acquired a new stake in shares of General Mills during the 4th quarter valued at approximately $1,320,000. Robeco Institutional Asset Management B.V. lifted its stake in General Mills by 1,824.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 895,225 shares of the company’s stock worth $41,628,000 after purchasing an additional 848,712 shares during the last quarter. Korea Investment CORP lifted its stake in General Mills by 161.9% during the third quarter. Korea Investment CORP now owns 333,199 shares of the company’s stock worth $16,800,000 after purchasing an additional 205,981 shares during the last quarter. Finally, HF Advisory Group LLC boosted its holdings in General Mills by 550.2% in the fourth quarter. HF Advisory Group LLC now owns 79,156 shares of the company’s stock worth $3,681,000 after purchasing an additional 66,981 shares during the period. Institutional investors own 75.71% of the company’s stock.

Insider Activity

In related news, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction dated 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 in the company, valued at $2,947,288.54. This trade represents a 10.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ricardo Fernandez sold 7,995 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the transaction, the insider directly owned 62,283 shares of the company’s stock, valued at $2,148,763.50. The trade was a 11.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Mizuho lowered their target price on shares of General Mills from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, March 19th. Sanford C. Bernstein downgraded shares of General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price target on the stock. in a research report on Wednesday, June 3rd. Stifel Nicolaus lowered their price objective on shares of General Mills from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Royal Bank Of Canada dropped their price objective on shares of General Mills from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, March 19th. Finally, Evercore set a $45.00 target price on shares of General Mills in a report on Wednesday, February 18th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $39.39.

General Mills Stock Performance

GIS stock opened at $34.41 on Wednesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56. The stock has a market capitalization of $18.37 billion, a price-to-earnings ratio of 8.41 and a beta of -0.03. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $54.18. The stock’s fifty day moving average is $34.38 and its two-hundred day moving average is $40.77.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.09). General Mills had a return on equity of 19.19% and a net margin of 12.05%.The firm had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the prior year, the company posted $1.12 EPS. The firm’s revenue was down 8.4% on a year-over-year basis. On average, research analysts predict that General Mills, Inc. will post 3.42 EPS for the current year.

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.