M&T Bank Corp Grows Stock Holdings in General Mills, Inc. (NYSE:GIS)

M&T Bank Corp lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 230,783 shares of the company’s stock after purchasing an additional 2,987 shares during the period. M&T Bank Corp’s holdings in General Mills were worth $15,033,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Operose Advisors LLC increased its position in General Mills by 214.1% during the third quarter. Operose Advisors LLC now owns 402 shares of the company’s stock worth $26,000 after purchasing an additional 274 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of General Mills during the 4th quarter worth approximately $28,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of General Mills during the 3rd quarter valued at approximately $31,000. HHM Wealth Advisors LLC acquired a new position in General Mills in the third quarter valued at approximately $32,000. Finally, Fortitude Family Office LLC purchased a new stake in General Mills in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Down 1.0 %

Shares of GIS traded down $0.74 during midday trading on Friday, reaching $69.91. The stock had a trading volume of 3,444,229 shares, compared to its average volume of 3,869,986. The company has a market cap of $39.70 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 2.41 and a beta of 0.15. The company’s fifty day simple moving average is $68.16 and its two-hundred day simple moving average is $65.84. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $90.89. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.66 and a quick ratio of 0.40.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.12. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $4.97 billion. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 earnings per share. Equities research analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GIS. Wells Fargo & Company raised their price objective on General Mills from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Morgan Stanley boosted their price target on shares of General Mills from $58.00 to $61.00 and gave the company an “underweight” rating in a research note on Thursday, March 21st. Stifel Nicolaus restated a “buy” rating and issued a $77.00 price objective on shares of General Mills in a report on Monday, April 22nd. JPMorgan Chase & Co. lifted their target price on shares of General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Finally, Citigroup assumed coverage on General Mills in a research note on Thursday, February 1st. They set a “neutral” rating and a $67.00 price target on the stock. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $72.18.

Insider Activity

In other news, insider Jonathon Nudi sold 10,000 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $69.21, for a total transaction of $692,100.00. Following the completion of the sale, the insider now owns 93,381 shares in the company, valued at $6,462,899.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.24% of the company’s stock.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.