Pingora Partners LLC Acquires 21,100 Shares of General Mills, Inc. $GIS

Pingora Partners LLC increased its holdings in General Mills, Inc. (NYSE:GIS) by 2,637.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,900 shares of the company’s stock after purchasing an additional 21,100 shares during the period. Pingora Partners LLC’s holdings in General Mills were worth $1,018,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of GIS. Norges Bank bought a new position in General Mills during the fourth quarter valued at $361,552,000. Worldquant Millennium Advisors LLC bought a new position in General Mills during the second quarter valued at $84,862,000. Arrowstreet Capital Limited Partnership increased its position in General Mills by 61.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,141,691 shares of the company’s stock valued at $192,589,000 after acquiring an additional 1,573,444 shares during the last quarter. Two Sigma Investments LP increased its position in General Mills by 82.8% during the third quarter. Two Sigma Investments LP now owns 3,415,818 shares of the company’s stock valued at $172,226,000 after acquiring an additional 1,546,993 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in General Mills by 131.7% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,065,086 shares of the company’s stock valued at $96,026,000 after acquiring an additional 1,173,919 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Trading Down 0.1%

NYSE GIS opened at $34.47 on Monday. The company’s 50-day moving average price is $34.51 and its 200-day moving average price is $40.95. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17. The stock has a market cap of $18.40 billion, a PE ratio of 8.43 and a beta of -0.03. General Mills, Inc. has a 12 month low of $31.75 and a 12 month high of $55.13.

General Mills (NYSE:GIS) last posted its quarterly 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). The company had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.53 billion. General Mills had a return on equity of 19.19% and a net margin of 12.05%.The company’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.12 earnings per share. Equities research analysts forecast that General Mills, Inc. will post 3.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on GIS shares. TD Cowen cut their price objective on shares of General Mills from $45.00 to $37.00 and set a “hold” rating on the stock in a research report on Thursday, March 19th. Morgan Stanley cut their price objective on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a research report on Friday, June 5th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Mills from $38.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. UBS Group cut their price objective on shares of General Mills from $35.00 to $30.00 and set a “sell” rating on the stock in a research report on Tuesday, June 2nd. Finally, BTIG Research started coverage on shares of General Mills in a research report on Monday, April 13th. They set a “neutral” rating on the stock. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $39.39.

Insider Transactions at General Mills

In other news, insider Ricardo Fernandez sold 7,995 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total value of $275,827.50. Following the transaction, the insider directly owned 62,283 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the transaction, the insider 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. Corporate insiders own 0.30% of the company’s stock.

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.