45,251 Shares in General Mills, Inc. $GIS Bought by Edgemoor Investment Advisors Inc.

Edgemoor Investment Advisors Inc. bought a new position in General Mills, Inc. (NYSE:GIS) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 45,251 shares of the company’s stock, valued at approximately $2,104,000.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of General Mills by 0.4% during the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock valued at $1,700,060,000 after acquiring an additional 145,701 shares during the period. Geode Capital Management LLC increased its holdings in shares of General Mills by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock worth $704,170,000 after acquiring an additional 172,200 shares during the period. Norges Bank acquired a new stake in shares of General Mills in the 4th quarter worth about $361,552,000. Invesco Ltd. lifted its position in General Mills by 13.0% in the 3rd quarter. Invesco Ltd. now owns 7,664,990 shares of the company’s stock valued at $386,469,000 after purchasing an additional 883,150 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in General Mills by 22.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company’s stock valued at $384,625,000 after purchasing an additional 1,383,913 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Stock Performance

NYSE:GIS opened at $33.82 on Friday. The company has a 50-day moving average of $35.22 and a 200-day moving average of $41.97. The firm has a market cap of $18.05 billion, a price-to-earnings ratio of 8.27 and a beta of -0.02. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17. General Mills, Inc. has a twelve month low of $32.64 and a twelve month high of $55.19.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, March 18th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). General Mills had a return on equity of 19.19% and a net margin of 12.05%.The business had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the previous year, the firm earned $1.12 earnings per share. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. Analysts forecast that General Mills, Inc. will post 3.43 earnings per share for the current fiscal year.

Insider Activity at General Mills

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the transaction, the insider owned 62,283 shares of the company’s stock, valued at approximately $2,148,763.50. This represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the sale, the insider owned 86,002 shares of the company’s stock, valued at $2,947,288.54. This trade represents a 10.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on GIS shares. Barclays decreased their target price on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, May 11th. Mizuho cut their price target on General Mills from $47.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, March 19th. TD Cowen reduced their price objective on General Mills from $45.00 to $37.00 and set a “hold” rating for the company in a research report on Thursday, March 19th. Wells Fargo & Company decreased their price objective on General Mills from $33.00 to $30.00 and set an “underweight” rating for the company in a report on Monday, May 18th. Finally, Stifel Nicolaus lowered their target price on General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $41.78.

General Mills Company Profile

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.