General Mills, Inc. $GIS Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its holdings in General Mills, Inc. (NYSE:GIS) by 9.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,269,781 shares of the company’s stock after purchasing an additional 109,063 shares during the period. Hsbc Holdings PLC owned about 0.24% of General Mills worth $59,040,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. LBP AM SA purchased a new stake in shares of General Mills during the fourth quarter valued at $2,639,000. Oak Thistle LLC purchased a new position in General Mills in the 4th quarter worth about $1,320,000. Robeco Institutional Asset Management B.V. increased its stake in General Mills by 1,824.7% in the 4th 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 in the last quarter. Korea Investment CORP raised its holdings in General Mills by 161.9% during the 3rd quarter. Korea Investment CORP now owns 333,199 shares of the company’s stock worth $16,800,000 after buying an additional 205,981 shares during the period. Finally, HF Advisory Group LLC raised its holdings in General Mills by 550.2% during the 4th quarter. HF Advisory Group LLC now owns 79,156 shares of the company’s stock worth $3,681,000 after buying an additional 66,981 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Mills

In related news, insider Ricardo Fernandez sold 7,995 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were 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 in the company, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total transaction of $342,700.00. Following the transaction, the insider directly owned 86,002 shares in the company, valued at $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.30% of the company’s stock.

General Mills Trading Down 0.2%

NYSE:GIS opened at $33.36 on Tuesday. The stock has a market cap of $17.81 billion, a PE ratio of 8.16 and a beta of -0.03. General Mills, Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $54.18. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36. The stock’s 50-day moving average is $34.10 and its two-hundred day moving average is $40.39.

Analysts Set New Price Targets

GIS has been the subject of several recent analyst reports. Bank of America decreased their target price on shares of General Mills from $42.00 to $36.00 and set a “neutral” rating for the company in a report on Thursday, May 28th. Morgan Stanley reduced their price target on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, June 5th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Mills from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Wells Fargo & Company lowered their price objective on shares of General Mills from $33.00 to $30.00 and set an “underweight” rating on the stock in a research report on Monday, May 18th. Finally, TD Cowen cut their target price on shares of General Mills from $45.00 to $37.00 and set a “hold” rating on the stock in a research note on Thursday, March 19th. Four 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $39.39.

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.