Shell Asset Management Co. Trims Position in General Mills, Inc. (NYSE:GIS)

Shell Asset Management Co. lessened its position in shares of General Mills, Inc. (NYSE:GIS) by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 151,872 shares of the company’s stock after selling 6,400 shares during the quarter. Shell Asset Management Co.’s holdings in General Mills were worth $8,014,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GIS. Paragon Capital Management LLC purchased a new stake in General Mills during the first quarter valued at $25,000. Royal Fund Management LLC purchased a new stake in General Mills during the first quarter valued at $26,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in General Mills during the first quarter valued at $28,000. RMR Wealth Builders purchased a new stake in General Mills in the fourth quarter worth about $30,000. Finally, Firestone Capital Management purchased a new stake in General Mills in the fourth quarter worth about $33,000. Institutional investors own 70.30% of the company’s stock.

In related news, insider Jodi J. Benson sold 17,475 shares of the stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $61.19, for a total transaction of $1,069,295.25. Following the completion of the transaction, the insider now directly owns 47,702 shares of the company’s stock, valued at $2,918,885.38. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Shawn P. Ogrady sold 6,187 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $59.95, for a total value of $370,910.65. Following the transaction, the insider now directly owns 134,820 shares of the company’s stock, valued at $8,082,459. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,668 shares of company stock valued at $8,078,504. 0.52% of the stock is owned by corporate insiders.

A number of brokerages have commented on GIS. Piper Sandler upped their price target on General Mills from $67.00 to $71.00 and gave the stock an “outperform” rating in a research report on Tuesday. Royal Bank of Canada upped their price target on General Mills from $57.00 to $61.00 in a research report on Thursday, March 19th. Credit Suisse Group upped their price target on General Mills from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 18th. Sanford C. Bernstein upgraded General Mills from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $45.00 to $57.00 in a research report on Wednesday, March 18th. Finally, Cfra upgraded General Mills from a “hold” rating to a “buy” rating and upped their price target for the stock from $58.00 to $60.00 in a research report on Friday, March 6th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. General Mills presently has a consensus rating of “Hold” and a consensus target price of $59.74.

General Mills stock traded up $0.01 during midday trading on Friday, reaching $59.96. 2,089,528 shares of the stock traded hands, compared to its average volume of 3,313,174. The stock’s fifty day moving average is $59.48 and its 200-day moving average is $54.45. General Mills, Inc. has a 12 month low of $46.59 and a 12 month high of $64.31. The stock has a market cap of $36.34 billion, a P/E ratio of 17.23, a PEG ratio of 2.23 and a beta of 0.60. The company has a quick ratio of 0.41, a current ratio of 0.64 and a debt-to-equity ratio of 1.47.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 18th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. General Mills had a return on equity of 26.40% and a net margin of 12.68%. The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the company earned $0.83 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. On average, equities analysts predict that General Mills, Inc. will post 3.58 EPS for the current fiscal year.

General Mills Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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