Wick Capital Partners LLC Takes $1.53 Million Position in General Mills, Inc. $GIS

Wick Capital Partners LLC acquired a new stake in General Mills, Inc. (NYSE:GIS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,816 shares of the company’s stock, valued at approximately $1,526,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GIS. Marshall Wace LLP acquired a new stake in shares of General Mills during the 2nd quarter worth approximately $9,188,000. Bank of Nova Scotia lifted its holdings in General Mills by 4.1% in the second quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock valued at $3,374,000 after acquiring an additional 2,552 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in General Mills by 112.6% in the second quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock valued at $465,000 after acquiring an additional 4,752 shares during the last quarter. Daiwa Securities Group Inc. grew its position in General Mills by 4.9% in the second quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock worth $4,250,000 after acquiring an additional 3,814 shares during the period. Finally, Nebula Research & Development LLC grew its position in General Mills by 334.2% in the second quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock worth $1,012,000 after acquiring an additional 15,041 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jacqueline Williams-Roll sold 10,000 shares of the 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 transaction, the insider owned 86,002 shares of the company’s stock, valued at approximately $2,947,288.54. This represents a 10.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ricardo Fernandez sold 7,995 shares of General Mills stock in a transaction dated 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 transaction, the insider directly owned 62,283 shares of the company’s stock, valued at approximately $2,148,763.50. This represents a 11.38% 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 currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Piper Sandler reduced their target price on General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Stifel Nicolaus lowered their price target on General Mills from $44.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. TD Cowen cut their price objective 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. Zacks Research lowered shares of General Mills from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Finally, UBS Group decreased their target price on shares of General Mills from $35.00 to $30.00 and set a “sell” rating on the stock in a research report on Tuesday, June 2nd. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and seven have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $39.39.

General Mills Stock Up 0.1%

NYSE:GIS opened at $33.41 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The stock’s fifty day moving average is $34.23 and its two-hundred day moving average is $40.58. General Mills, Inc. has a 52 week low of $31.75 and a 52 week high of $54.18. The stock has a market capitalization of $17.83 billion, a price-to-earnings ratio of 8.17 and a beta of -0.03.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). The firm had revenue of $4.44 billion during 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 company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 earnings per share. Research analysts anticipate that General Mills, Inc. will post 3.42 EPS for the current year.

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.