Northwestern Mutual Wealth Management Co. Boosts Stake in General Mills, Inc. $GIS

Northwestern Mutual Wealth Management Co. raised its holdings in General Mills, Inc. (NYSE:GIS) by 198.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 180,868 shares of the company’s stock after purchasing an additional 120,349 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in General Mills were worth $8,410,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GIS. Worldquant Millennium Advisors LLC purchased a new stake in General Mills in the second quarter valued at $84,862,000. Two Sigma Investments LP raised its position in General Mills by 82.8% in the third quarter. Two Sigma Investments LP now owns 3,415,818 shares of the company’s stock valued at $172,226,000 after purchasing an additional 1,546,993 shares during the period. Diamond Hill Capital Management Inc. raised its position in General Mills by 22.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company’s stock valued at $384,625,000 after purchasing an additional 1,383,913 shares during the period. Invesco Ltd. raised its position in General Mills by 13.0% in the third quarter. Invesco Ltd. now owns 7,664,990 shares of the company’s stock valued at $386,469,000 after purchasing an additional 883,150 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in General Mills by 1,824.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 895,225 shares of the company’s stock valued at $41,628,000 after purchasing an additional 848,712 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Mizuho reduced their target price on General Mills from $47.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, March 19th. Piper Sandler cut their price objective on General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. The Goldman Sachs Group cut their price objective on General Mills from $47.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, March 19th. Evercore set a $45.00 price objective on General Mills in a report on Wednesday, February 18th. Finally, Royal Bank Of Canada cut their price objective on General Mills from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, March 19th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, General Mills has an average rating of “Reduce” and an average target price of $42.44.

Insider Activity

In other General Mills news, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the sale, the insider owned 86,002 shares in the company, valued at $2,947,288.54. This represents a 10.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ricardo Fernandez sold 7,995 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the sale, the insider owned 62,283 shares in the company, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is owned by corporate insiders.

General Mills Price Performance

Shares of NYSE GIS opened at $33.71 on Friday. The stock’s 50-day moving average is $35.74 and its two-hundred day moving average is $42.42. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36. General Mills, Inc. has a 1-year low of $32.64 and a 1-year high of $55.19. The company has a market cap of $17.99 billion, a price-to-earnings ratio of 8.24 and a beta of -0.02.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share 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 company had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter last year, the company earned $1.12 EPS. General Mills’s revenue for the quarter was down 8.4% compared to the same quarter last year. Analysts forecast that General Mills, Inc. will post 3.43 EPS for the current fiscal 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.