Robecosam AG grew its stake in General Mills, Inc. (NYSE:GIS) by 70.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,573 shares of the company’s stock after purchasing an additional 6,424 shares during the quarter. Robecosam AG’s holdings in General Mills were worth $927,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Cable Hill Partners LLC raised its position in shares of General Mills by 274.5% in the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after purchasing an additional 1,647 shares during the period. Truewealth LLC bought a new position in shares of General Mills in the fourth quarter valued at about $119,000. Grove Bank & Trust raised its position in shares of General Mills by 322.7% in the third quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock valued at $127,000 after purchasing an additional 1,878 shares during the period. Financial Gravity Companies Inc. bought a new position in shares of General Mills in the fourth quarter valued at about $131,000. Finally, Tradewinds Capital Management LLC raised its position in shares of General Mills by 127.3% in the third quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock valued at $135,000 after purchasing an additional 1,459 shares during the period. 74.34% of the stock is currently owned by institutional investors.
GIS has been the topic of several research analyst reports. Wells Fargo & Co set a $65.00 price objective on shares of General Mills and gave the company a “buy” rating in a research report on Thursday, December 21st. Jefferies Group raised shares of General Mills from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Wednesday, February 14th. Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Monday, February 26th. Citigroup dropped their price objective on shares of General Mills from $71.00 to $69.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Finally, Edward Jones reaffirmed a “hold” rating on shares of General Mills in a research report on Wednesday, December 20th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $57.64.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, hitting analysts’ consensus estimates of $0.82. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.08 billion. General Mills had a net margin of 10.29% and a return on equity of 38.89%. General Mills’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.85 earnings per share. analysts anticipate that General Mills, Inc. will post 3.17 EPS for the current year.
General Mills announced that its Board of Directors has initiated a share repurchase program on Friday, February 23rd that permits the company to buyback outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total transaction of $517,492.80. Following the sale, the insider now directly owns 36,089 shares in the company, valued at $2,143,686.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.40% of the company’s stock.
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General Mills Company Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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