Dean Capital Investments Management LLC bought a new position in shares of General Mills, Inc. (NYSE:GIS) during the first quarter, HoldingsChannel reports. The fund bought 21,371 shares of the company’s stock, valued at approximately $1,106,000. General Mills comprises 0.7% of Dean Capital Investments Management LLC’s portfolio, making the stock its 13th largest position.
Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of General Mills in the 4th quarter worth $208,406,000. Oregon Public Employees Retirement Fund increased its holdings in shares of General Mills by 3,788.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,531,100 shares of the company’s stock worth $65,000 after buying an additional 2,466,013 shares during the last quarter. BlackRock Inc. increased its holdings in shares of General Mills by 2.6% in the 4th quarter. BlackRock Inc. now owns 40,910,241 shares of the company’s stock worth $1,593,046,000 after buying an additional 1,049,722 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in shares of General Mills in the 4th quarter worth $33,087,000. Finally, Gotham Asset Management LLC increased its holdings in shares of General Mills by 476.8% in the 4th quarter. Gotham Asset Management LLC now owns 632,908 shares of the company’s stock worth $24,645,000 after buying an additional 523,175 shares during the last quarter. 69.22% of the stock is currently owned by institutional investors and hedge funds.
GIS has been the topic of a number of research analyst reports. TheStreet raised shares of General Mills from a “c+” rating to a “b-” rating in a report on Friday, March 15th. Deutsche Bank raised shares of General Mills from a “hold” rating to a “buy” rating and increased their price target for the stock from $43.00 to $54.00 in a report on Thursday, March 14th. Guggenheim reissued a “buy” rating on shares of General Mills in a report on Tuesday, February 26th. Jefferies Financial Group reissued a “buy” rating and issued a $55.00 price target on shares of General Mills in a report on Wednesday, March 20th. Finally, Morgan Stanley increased their price target on shares of General Mills from $41.00 to $49.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $49.91.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, March 20th. The company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.14. General Mills had a net margin of 9.26% and a return on equity of 28.11%. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the firm earned $0.79 EPS. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Research analysts expect that General Mills, Inc. will post 3.14 earnings per share for the current year.
In other General Mills news, CFO Donal L. Mulligan sold 120,722 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $47.50, for a total transaction 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 approximately $11,985,485. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director R Kerry Clark sold 14,836 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $51.57, for a total transaction of $765,092.52. Following the sale, the director now directly owns 62,211 shares of the company’s stock, valued at approximately $3,208,221.27. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 444,222 shares of company stock worth $21,764,784. 0.59% of the stock is owned by insiders.
About General Mills
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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