Kingsview Wealth Management LLC Has $8.20 Million Stock Position in General Mills, Inc. $GIS

Kingsview Wealth Management LLC cut its holdings in shares of General Mills, Inc. (NYSE:GIS) by 13.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 176,256 shares of the company’s stock after selling 26,493 shares during the period. Kingsview Wealth Management LLC’s holdings in General Mills were worth $8,196,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of General Mills by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock worth $704,170,000 after buying an additional 172,200 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in General Mills in the fourth quarter valued at about $387,000. Steel Grove Capital Advisors LLC bought a new position in General Mills in the fourth quarter valued at about $1,307,000. AlphaQuest LLC raised its stake in General Mills by 230.4% during the fourth quarter. AlphaQuest LLC now owns 54,728 shares of the company’s stock worth $2,545,000 after acquiring an additional 38,162 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC lifted its holdings in shares of General Mills by 63.6% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,147 shares of the company’s stock worth $53,000 after acquiring an additional 446 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Activity

In other General Mills news, 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 value of $342,700.00. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ricardo Fernandez sold 7,995 shares of the 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 completion of the sale, the insider directly owned 62,283 shares of the company’s stock, valued at approximately $2,148,763.50. The trade was a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is currently owned by insiders.

General Mills Stock Performance

NYSE:GIS opened at $33.86 on Friday. The stock’s 50-day moving average is $35.30 and its 200-day moving average is $42.03. General Mills, Inc. has a 1-year low of $32.64 and a 1-year high of $55.19. 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 $18.07 billion, a P/E ratio of 8.28 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 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.09). The business 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 business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 EPS. Equities research analysts anticipate that General Mills, Inc. will post 3.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus reduced their price target on shares of General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. TD Cowen dropped their price objective on shares of General Mills from $45.00 to $37.00 and set a “hold” rating for the company in a research note on Thursday, March 19th. JPMorgan Chase & Co. cut their target price on shares of General Mills from $42.00 to $36.00 and set an “underweight” rating on the stock in a research report on Thursday, March 19th. The Goldman Sachs Group decreased their target price on shares of General Mills from $47.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, March 19th. Finally, Piper Sandler lowered their price target on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $41.78.

General Mills 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.