General Mills, Inc. (GIS) Shares Bought by Martingale Asset Management L P

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Martingale Asset Management L P lifted its stake in shares of General Mills, Inc. (NYSE:GIS) by 6.7% in the first quarter, Holdings Channel reports. The fund owned 248,886 shares of the company’s stock after acquiring an additional 15,590 shares during the quarter. Martingale Asset Management L P’s holdings in General Mills were worth $12,881,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of GIS. Acima Private Wealth LLC purchased a new position in General Mills in the 4th quarter worth $29,000. We Are One Seven LLC purchased a new position in General Mills in the 4th quarter worth $30,000. Legacy Advisors LLC purchased a new position in General Mills in the 1st quarter worth $31,000. Certified Advisory Corp raised its position in General Mills by 100.9% in the 1st quarter. Certified Advisory Corp now owns 643 shares of the company’s stock worth $33,000 after purchasing an additional 323 shares during the period. Finally, BDO Wealth Advisors LLC purchased a new position in General Mills in the 4th quarter worth $37,000. 69.10% of the stock is owned by institutional investors.

In other General Mills news, insider Shawn P. Ogrady sold 118,152 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $48.50, for a total value of $5,730,372.00. Following the transaction, the insider now owns 187,891 shares in the company, valued at $9,112,713.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R Kerry Clark sold 14,836 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $51.57, for a total transaction of $765,092.52. Following the completion of the transaction, the director now owns 62,211 shares in the company, valued at approximately $3,208,221.27. The disclosure for this sale can be found here. Insiders sold 444,222 shares of company stock worth $21,764,784 in the last 90 days. Corporate insiders own 0.59% of the company’s stock.

A number of equities analysts recently commented on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 target price on shares of General Mills in a research report on Wednesday, March 20th. Wells Fargo & Co lifted their target price on shares of General Mills from $53.00 to $56.00 and gave the stock a “positive” rating in a research report on Friday, March 22nd. Guggenheim reiterated a “buy” rating on shares of General Mills in a research report on Tuesday, February 26th. Morgan Stanley lifted their target price on shares of General Mills from $41.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Finally, Citigroup reiterated a “top pick” rating and issued a $60.00 target price (up previously from $54.00) on shares of General Mills in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. General Mills presently has an average rating of “Hold” and an average price target of $50.17.

GIS stock opened at $52.81 on Friday. General Mills, Inc. has a 12-month low of $36.42 and a 12-month high of $53.66. The stock has a market capitalization of $31.62 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 2.38 and a beta of 0.77. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.35 and a current ratio of 0.55.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, March 20th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14. General Mills had a net margin of 9.26% and a return on equity of 28.11%. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the company earned $0.79 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities analysts predict that General Mills, Inc. will post 3.14 EPS for the current year.

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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.

Further Reading: Analyzing a company’s cash flow statement

Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS).

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

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