Swedbank AB Acquires 146,122 Shares of General Mills, Inc. $GIS

Swedbank AB grew its holdings in General Mills, Inc. (NYSE:GIS) by 23.8% in the 4th quarter, Holdings Channel reports. The fund owned 759,497 shares of the company’s stock after purchasing an additional 146,122 shares during the quarter. Swedbank AB’s holdings in General Mills were worth $35,317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Retirement Planning Co of New England Inc. lifted its position in General Mills by 4.2% in the third quarter. Retirement Planning Co of New England Inc. now owns 5,416 shares of the company’s stock worth $273,000 after purchasing an additional 219 shares during the period. Smith Moore & CO. lifted its position in General Mills by 2.6% in the third quarter. Smith Moore & CO. now owns 8,785 shares of the company’s stock worth $443,000 after purchasing an additional 225 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC lifted its position in General Mills by 1.9% in the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company’s stock worth $565,000 after purchasing an additional 225 shares during the period. Allegheny Financial Group lifted its position in General Mills by 4.8% in the fourth quarter. Allegheny Financial Group now owns 4,904 shares of the company’s stock worth $228,000 after purchasing an additional 226 shares during the period. Finally, Stonebridge Capital Advisors LLC lifted its position in General Mills by 0.7% in the second quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company’s stock worth $1,702,000 after purchasing an additional 226 shares during the period. 75.71% of the stock is owned by institutional investors.

General Mills Stock Performance

General Mills stock opened at $33.71 on Monday. 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 has a fifty day moving average price of $35.74 and a two-hundred day moving average price of $42.39. General Mills, Inc. has a 52-week low of $32.64 and a 52-week high of $55.19. The firm has a market capitalization of $17.99 billion, a P/E ratio of 8.24 and a beta of -0.02.

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 company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same quarter in the prior year, the company earned $1.12 earnings per share. The business’s revenue was down 8.4% compared to the same quarter last year. As a group, analysts anticipate that General Mills, Inc. will post 3.43 EPS for the current fiscal year.

Insider Buying and Selling at General Mills

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total transaction of $275,827.50. Following the completion of the transaction, the insider directly owned 62,283 shares in the company, 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 SEC, which can be accessed through this link. 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 value of $342,700.00. Following the transaction, the insider owned 86,002 shares of the company’s stock, valued at $2,947,288.54. This represents a 10.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the subject of several research reports. Evercore set a $45.00 target price on General Mills in a research report on Wednesday, February 18th. Wells Fargo & Company reduced their target price on General Mills from $33.00 to $30.00 and set an “underweight” rating for the company in a research report on Monday, May 18th. Royal Bank Of Canada reduced their target price on General Mills from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, March 19th. Sanford C. Bernstein reduced their target price on General Mills from $53.00 to $48.00 and set a “market perform” rating for the company in a research report on Wednesday, February 18th. Finally, TD Cowen reduced their target price on General Mills from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Thursday, March 19th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, General Mills currently has an average rating of “Reduce” and an average price target of $42.44.

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.