Eurizon Capital SGR S.p.A. Invests $43.18 Million in General Mills, Inc. $GIS

Eurizon Capital SGR S.p.A. acquired a new position in General Mills, Inc. (NYSE:GIS) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 928,399 shares of the company’s stock, valued at approximately $43,184,000.

Several other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake in shares of General Mills by 0.4% in the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock worth $1,700,060,000 after purchasing an additional 145,701 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of General Mills by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock worth $704,170,000 after purchasing an additional 172,200 shares during the last quarter. Invesco Ltd. raised its stake in shares of General Mills by 13.0% in the third quarter. Invesco Ltd. now owns 7,664,990 shares of the company’s stock worth $386,469,000 after purchasing an additional 883,150 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in shares of General Mills by 22.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company’s stock worth $384,625,000 after purchasing an additional 1,383,913 shares during the last quarter. Finally, Capital World Investors raised its stake in shares of General Mills by 0.3% in the third quarter. Capital World Investors now owns 5,585,110 shares of the company’s stock worth $281,601,000 after purchasing an additional 16,028 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Down 0.2%

Shares of GIS opened at $33.82 on Friday. 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 12 month low of $32.64 and a 12 month high of $55.19. The stock’s 50 day moving average is $35.22 and its two-hundred day moving average is $41.97. The firm has a market cap of $18.05 billion, a P/E ratio of 8.27 and a beta of -0.02.

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. 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 note on Thursday, March 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Mills from $38.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Bank of America reduced their price objective on General Mills from $42.00 to $36.00 and set a “neutral” rating for the company in a research note on Thursday. The Goldman Sachs Group reduced their price objective on General Mills from $47.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, March 19th. Finally, UBS Group reduced their price target on General Mills from $40.00 to $35.00 and set a “sell” rating for the company in a research report on Thursday, March 19th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $41.78.

Insider Activity at General Mills

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of the firm’s stock in a transaction that occurred 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 sale, the insider directly owned 62,283 shares of the company’s stock, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 86,002 shares in the company, valued at approximately $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is currently owned by company insiders.

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.