Healthcare of Ontario Pension Plan Trust Fund Raises Stake in General Mills, Inc. $GIS

Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of General Mills, Inc. (NYSE:GIS) by 131.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,065,086 shares of the company’s stock after purchasing an additional 1,173,919 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in General Mills were worth $96,026,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Landscape Capital Management L.L.C. lifted its holdings in shares of General Mills by 72.6% in the fourth quarter. Landscape Capital Management L.L.C. now owns 167,475 shares of the company’s stock worth $7,788,000 after buying an additional 70,425 shares in the last quarter. Cornerstone Financial Management LLC purchased a new position in shares of General Mills in the fourth quarter worth $168,000. Barclays PLC lifted its holdings in shares of General Mills by 2.3% in the fourth quarter. Barclays PLC now owns 1,785,989 shares of the company’s stock worth $83,048,000 after buying an additional 39,998 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of General Mills in the fourth quarter worth $1,860,000. Finally, Arrowstreet Capital Limited Partnership lifted 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 in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

GIS has been the topic of several research analyst reports. TD Cowen lowered their target price on shares of General Mills from $45.00 to $37.00 and set a “hold” rating on the stock in a report on Thursday, March 19th. Mizuho lowered their target price on shares of General Mills from $47.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, March 19th. Barclays lowered their target price on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, May 11th. Sanford C. Bernstein downgraded shares of General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 target price on the stock. in a report on Wednesday, June 3rd. Finally, 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 report on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $39.39.

Insiders Place Their Bets

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the transaction, the insider owned 62,283 shares in the company, valued at $2,148,763.50. The trade was a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 owned 86,002 shares in the company, 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.

General Mills Trading Up 1.9%

Shares of GIS opened at $34.47 on Friday. The company’s fifty day moving average is $34.51 and its 200 day moving average is $41.00. General Mills, Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $55.13. The stock has a market capitalization of $18.40 billion, a PE ratio of 8.43 and a beta of -0.03. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56.

General Mills (NYSE:GIS) last announced its quarterly earnings results 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). 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 prior year, the firm posted $1.12 EPS. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. Sell-side analysts expect that General Mills, Inc. will post 3.42 earnings per share for the current fiscal year.

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.