General Mills, Inc. $GIS Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its holdings in General Mills, Inc. (NYSE:GIS) by 12.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,668,900 shares of the company’s stock after selling 392,773 shares during the quarter. Pacer Advisors Inc.’s holdings in General Mills were worth $124,104,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of General Mills during the 4th quarter worth $361,552,000. Wellington Management Group LLP increased its stake in General Mills by 2,970.1% in the 4th quarter. Wellington Management Group LLP now owns 7,466,693 shares of the company’s stock worth $347,201,000 after purchasing an additional 7,223,487 shares in the last quarter. AQR Capital Management LLC lifted its stake in General Mills by 366.1% during the fourth quarter. AQR Capital Management LLC now owns 5,117,287 shares of the company’s stock valued at $237,954,000 after buying an additional 4,019,319 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in shares of General Mills in the second quarter worth about $84,862,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of General Mills by 61.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,141,691 shares of the company’s stock worth $192,589,000 after buying an additional 1,573,444 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

NYSE GIS opened at $33.41 on Friday. The company has a 50 day simple moving average of $34.23 and a 200-day simple moving average of $40.58. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36. The firm has a market capitalization of $17.83 billion, a price-to-earnings ratio of 8.17 and a beta of -0.03. General Mills, Inc. has a 52-week low of $31.75 and a 52-week high of $54.18.

General Mills (NYSE:GIS) last posted its quarterly earnings results 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 return on equity of 19.19% and a net margin of 12.05%.The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same quarter in the prior year, the business posted $1.12 earnings per share. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. Equities research analysts predict that General Mills, Inc. will post 3.42 earnings per share for the current fiscal year.

Insider Activity at General Mills

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total transaction of $342,700.00. Following the transaction, the insider directly owned 86,002 shares in the company, valued at $2,947,288.54. The trade was a 10.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $275,827.50. Following the completion of the transaction, the insider directly owned 62,283 shares in the company, valued at $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GIS has been the topic of several analyst reports. Wells Fargo & Company dropped their target price on shares of General Mills from $33.00 to $30.00 and set an “underweight” rating on the stock in a research report on Monday, May 18th. Mizuho decreased their price objective on shares of General Mills from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, March 19th. Bank of America lowered their price objective on shares of General Mills from $42.00 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, May 28th. JPMorgan Chase & Co. cut their target price on shares of General Mills from $36.00 to $31.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 3rd. Finally, Barclays reduced their target price on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat.com, General Mills currently has a consensus rating of “Reduce” and an average target price of $39.39.

About General Mills

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.