Berkshire Asset Management LLC PA Trims Position in General Mills, Inc. $GIS

Berkshire Asset Management LLC PA decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 3.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 399,742 shares of the company’s stock after selling 15,728 shares during the period. Berkshire Asset Management LLC PA’s holdings in General Mills were worth $18,588,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC purchased a new position in shares of General Mills during the third quarter valued at approximately $25,000. Bruce G. Allen Investments LLC lifted its stake in shares of General Mills by 139.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock valued at $27,000 after buying an additional 337 shares during the period. Close Asset Management Ltd acquired a new position in General Mills during the third quarter worth approximately $28,000. Zions Bancorporation National Association UT increased its position in General Mills by 248.1% during the fourth quarter. Zions Bancorporation National Association UT now owns 630 shares of the company’s stock worth $29,000 after purchasing an additional 449 shares during the last quarter. Finally, Activest Wealth Management increased its position in General Mills by 211.7% during the fourth quarter. Activest Wealth Management now owns 695 shares of the company’s stock worth $32,000 after purchasing an additional 472 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling at General Mills

In other news, insider Ricardo Fernandez sold 7,995 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total value of $275,827.50. Following the completion of the sale, the insider owned 62,283 shares of the company’s stock, valued at $2,148,763.50. This represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of 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 position. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GIS. Barclays dropped their price target on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, May 11th. TD Cowen dropped their price target on shares of General Mills from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Thursday, March 19th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Mills from $38.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, March 30th. Morgan Stanley dropped 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. Finally, Wells Fargo & Company dropped their price target on shares of General Mills from $33.00 to $30.00 and set an “underweight” rating for the company in a research report on Monday, May 18th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and seven have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $39.39.

General Mills Price Performance

General Mills stock opened at $34.41 on Wednesday. General Mills, Inc. has a 52-week low of $31.75 and a 52-week high of $54.18. The firm has a fifty day moving average of $34.38 and a 200-day moving average of $40.77. The firm has a market capitalization of $18.37 billion, a P/E ratio of 8.41 and a beta of -0.03. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last released 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). General Mills had a return on equity of 19.19% and a net margin of 12.05%.The business had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same period in the previous year, the company earned $1.12 EPS. General Mills’s revenue was down 8.4% on a year-over-year basis. As a group, 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.