General Mills, Inc. $GIS Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 23.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 61,698 shares of the company’s stock after selling 18,611 shares during the period. Fisher Asset Management LLC’s holdings in General Mills were worth $2,869,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Choate Investment Advisors lifted its position in General Mills by 4.4% during the 4th quarter. Choate Investment Advisors now owns 95,224 shares of the company’s stock worth $4,428,000 after acquiring an additional 4,012 shares in the last quarter. Clearstead Advisors LLC lifted its position in General Mills by 65.1% during the 4th quarter. Clearstead Advisors LLC now owns 12,896 shares of the company’s stock worth $600,000 after acquiring an additional 5,086 shares in the last quarter. Morningstar Investment Management LLC lifted its position in General Mills by 8.5% during the 4th quarter. Morningstar Investment Management LLC now owns 56,098 shares of the company’s stock worth $2,609,000 after acquiring an additional 4,413 shares in the last quarter. Glenview Trust Co lifted its position in General Mills by 44.5% during the 4th quarter. Glenview Trust Co now owns 5,845 shares of the company’s stock worth $272,000 after acquiring an additional 1,799 shares in the last quarter. Finally, HBK Sorce Advisory LLC lifted its position in General Mills by 5.4% during the 4th quarter. HBK Sorce Advisory LLC now owns 9,272 shares of the company’s stock worth $444,000 after acquiring an additional 474 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Ricardo Fernandez sold 7,995 shares of the company’s 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s 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 approximately $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their target price on General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. BTIG Research initiated coverage on General Mills in a research report on Monday, April 13th. They issued a “neutral” rating on the stock. Evercore set a $45.00 target price on General Mills in a research report on Wednesday, February 18th. Zacks Research lowered General Mills from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. Finally, Sanford C. Bernstein cut their target price on General Mills from $53.00 to $48.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 18th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $41.78.

General Mills Stock Performance

GIS stock opened at $33.86 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17. The firm has a market cap of $18.07 billion, a P/E ratio of 8.28 and a beta of -0.02. General Mills, Inc. has a 12-month low of $32.64 and a 12-month high of $55.19. The stock’s 50 day simple moving average is $35.30 and its 200 day simple moving average is $42.03.

General Mills (NYSE:GIS) last posted its quarterly earnings results 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 firm had revenue of $4.44 billion for the quarter, compared to analyst estimates 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 was down 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.12 earnings per share. As a group, equities research analysts predict that General Mills, Inc. will post 3.43 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.