Integrated Advisors Network LLC Makes New Investment in General Mills, Inc. (NYSE:GIS)

Integrated Advisors Network LLC bought a new position in General Mills, Inc. (NYSE:GIS) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,449 shares of the company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in General Mills by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company’s stock worth $4,376,573,000 after acquiring an additional 1,868,508 shares during the period. Geode Capital Management LLC grew its stake in General Mills by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 14,488,451 shares of the company’s stock worth $923,907,000 after acquiring an additional 136,895 shares during the period. Ameriprise Financial Inc. grew its stake in General Mills by 34.5% in the 4th quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock worth $581,903,000 after acquiring an additional 2,341,137 shares during the period. Northern Trust Corp grew its stake in General Mills by 18.4% in the 4th quarter. Northern Trust Corp now owns 8,061,793 shares of the company’s stock worth $514,101,000 after acquiring an additional 1,253,483 shares during the period. Finally, Norges Bank purchased a new stake in General Mills in the 4th quarter worth approximately $496,484,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GIS. The Goldman Sachs Group lowered shares of General Mills from a “buy” rating to a “neutral” rating and decreased their price target for the company from $68.00 to $58.00 in a report on Monday, June 9th. Citigroup decreased their price target on shares of General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Stifel Nicolaus decreased their price target on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Barclays decreased their price target on shares of General Mills from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 18th. Finally, Piper Sandler decreased their price target on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $63.44.

General Mills Stock Performance

Shares of GIS stock opened at $53.50 on Monday. General Mills, Inc. has a 12 month low of $52.39 and a 12 month high of $75.90. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The firm has a market capitalization of $29.49 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.94 and a beta of 0.02. The company’s fifty day moving average price is $55.38 and its two-hundred day moving average price is $59.20.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.17 EPS. On average, research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Company Profile

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 savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.