Franklin Resources Inc. Sells 76,281 Shares of General Mills, Inc. (NYSE:GIS)

Franklin Resources Inc. lowered its holdings in shares of General Mills, Inc. (NYSE:GISFree Report) by 13.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 512,448 shares of the company’s stock after selling 76,281 shares during the period. Franklin Resources Inc. owned about 0.09% of General Mills worth $33,381,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in General Mills during the fourth quarter worth about $377,205,000. Massachusetts Financial Services Co. MA lifted its stake in General Mills by 106.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,442,653 shares of the company’s stock valued at $224,254,000 after purchasing an additional 1,778,345 shares during the last quarter. Nordea Investment Management AB boosted its position in General Mills by 48.7% in the third quarter. Nordea Investment Management AB now owns 5,051,607 shares of the company’s stock valued at $325,728,000 after buying an additional 1,654,111 shares in the last quarter. American Century Companies Inc. grew its stake in shares of General Mills by 257.7% during the third quarter. American Century Companies Inc. now owns 1,061,943 shares of the company’s stock worth $67,954,000 after buying an additional 765,070 shares during the last quarter. Finally, LSV Asset Management grew its stake in shares of General Mills by 165.6% during the fourth quarter. LSV Asset Management now owns 1,049,750 shares of the company’s stock worth $68,381,000 after buying an additional 654,550 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on GIS. Morgan Stanley increased their target price on General Mills from $58.00 to $61.00 and gave the company an “underweight” rating in a research report on Thursday, March 21st. Mizuho increased their price objective on shares of General Mills from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Bank of America boosted their target price on shares of General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. HSBC increased their price target on General Mills from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Finally, Sanford C. Bernstein raised shares of General Mills from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $62.00 to $70.00 in a research note on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $72.06.

Get Our Latest Stock Analysis on General Mills

Insider Activity

In related news, insider Jonathon Nudi sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $69.21, for a total transaction of $692,100.00. Following the completion of the transaction, the insider now owns 93,381 shares of the company’s stock, valued at $6,462,899.01. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Jonathon Nudi sold 10,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $69.21, for a total transaction of $692,100.00. Following the completion of the transaction, the insider now directly owns 93,381 shares in the company, valued at approximately $6,462,899.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Werner Lanette Shaffer sold 710 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the completion of the sale, the insider now owns 17,397 shares in the company, valued at approximately $1,227,706.29. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

General Mills Stock Down 1.1 %

General Mills stock opened at $68.30 on Monday. The firm has a 50 day simple moving average of $69.73 and a 200 day simple moving average of $66.45. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $85.84. The firm has a market capitalization of $38.79 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 3.04 and a beta of 0.15.

General Mills (NYSE:GISGet Free Report) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.12. The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $4.97 billion. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.97 earnings per share. On average, analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current year.

About General Mills

(Free Report)

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.

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

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