General Mills, Inc. $GIS Shares Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC lifted its holdings in General Mills, Inc. (NYSE:GIS) by 18.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 333,915 shares of the company’s stock after acquiring an additional 51,550 shares during the quarter. Wealthfront Advisers LLC’s holdings in General Mills were worth $15,527,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Austin Private Wealth LLC increased its stake in shares of General Mills by 5.0% in the third quarter. Austin Private Wealth LLC now owns 4,442 shares of the company’s stock worth $224,000 after acquiring an additional 211 shares during the period. Retirement Planning Co of New England Inc. boosted its holdings in General Mills by 4.2% during the third quarter. Retirement Planning Co of New England Inc. now owns 5,416 shares of the company’s stock worth $273,000 after buying an additional 219 shares in the last quarter. Smith Moore & CO. boosted its holdings in General Mills by 2.6% during the third quarter. Smith Moore & CO. now owns 8,785 shares of the company’s stock worth $443,000 after buying an additional 225 shares in the last quarter. Stonebridge Capital Advisors LLC boosted its holdings in General Mills by 0.7% during the second quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company’s stock worth $1,702,000 after buying an additional 226 shares in the last quarter. Finally, Tempus Wealth Planning LLC boosted its holdings in General Mills by 5.7% during the third quarter. Tempus Wealth Planning LLC now owns 4,297 shares of the company’s stock worth $217,000 after buying an additional 231 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Performance

GIS opened at $34.78 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The company has a market cap of $18.56 billion, a price-to-earnings ratio of 8.50 and a beta of 0.01. General Mills, Inc. has a 52-week low of $34.04 and a 52-week high of $57.08. The firm’s fifty day simple moving average is $38.98 and its two-hundred day simple moving average is $43.94.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, March 18th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.09). The company 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 for the quarter was down 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.12 earnings per share. Equities analysts anticipate that General Mills, Inc. will post 3.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GIS has been the topic of a number of recent analyst reports. TD Cowen lowered their price target on shares of General Mills from $45.00 to $37.00 and set a “hold” rating on the stock in a report on Thursday, March 19th. Stifel Nicolaus lowered their price target on shares of General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Royal Bank Of Canada lowered their price target on shares of General Mills from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, March 19th. Piper Sandler lowered their price target on shares of General Mills from $53.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, March 19th. Finally, BTIG Research initiated coverage on shares of General Mills in a report on Monday, April 13th. They set a “neutral” rating on the stock. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $43.22.

About General Mills

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.