Steinberg Global Asset Management bought a new stake in General Mills, Inc. (NYSE:GIS) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,460 shares of the company’s stock, valued at approximately $246,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Legacy Advisors LLC acquired a new position in shares of General Mills during the 1st quarter valued at $31,000. Acima Private Wealth LLC acquired a new position in shares of General Mills during the 4th quarter valued at $29,000. We Are One Seven LLC acquired a new position in shares of General Mills during the 4th quarter valued at $30,000. Sageworth Trust Co acquired a new position in shares of General Mills during the 1st quarter valued at $49,000. Finally, BDO Wealth Advisors LLC acquired a new position in shares of General Mills during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 69.16% of the company’s stock.
GIS has been the topic of several research analyst reports. Deutsche Bank upgraded General Mills from a “hold” rating to a “buy” rating and lifted their price target for the company from $43.00 to $54.00 in a research report on Thursday, March 14th. Wells Fargo & Co lifted their price target on General Mills from $48.00 to $53.00 and gave the company an “outperform” rating in a research report on Monday, February 25th. Jefferies Financial Group reiterated a “buy” rating and set a $55.00 price target on shares of General Mills in a research report on Wednesday, March 20th. TheStreet upgraded General Mills from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. Finally, BMO Capital Markets raised their price objective on General Mills from $51.00 to $53.00 and gave the stock a “market perform” rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $49.91.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, March 20th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.14. The business had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.21 billion. General Mills had a return on equity of 28.11% and a net margin of 9.26%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company posted $0.79 EPS. On average, equities research analysts anticipate that General Mills, Inc. will post 3.14 EPS for the current fiscal year.
In other news, CFO Donal L. Mulligan sold 120,722 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $47.50, for a total value of $5,734,295.00. Following the completion of the sale, the chief financial officer now owns 252,326 shares of the company’s stock, valued at $11,985,485. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shawn P. Ogrady sold 118,152 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $48.50, for a total value of $5,730,372.00. Following the completion of the sale, the insider now directly owns 187,891 shares of the company’s stock, valued at approximately $9,112,713.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 444,222 shares of company stock valued at $21,764,784. 0.59% of the stock is currently owned by insiders.
General Mills Company 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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