Los Angeles Capital Management LLC Lowers Holdings in General Mills, Inc. (NYSE:GIS)

Los Angeles Capital Management LLC cut its holdings in General Mills, Inc. (NYSE:GIS) by 7.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,365 shares of the company’s stock after selling 12,052 shares during the period. Los Angeles Capital Management LLC’s holdings in General Mills were worth $10,941,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Morgan Stanley lifted its holdings in General Mills by 0.3% in the 3rd quarter. Morgan Stanley now owns 8,242,274 shares of the company’s stock worth $527,423,000 after purchasing an additional 23,400 shares in the last quarter. Northern Trust Corp lifted its holdings in General Mills by 5.0% in the 3rd quarter. Northern Trust Corp now owns 7,995,118 shares of the company’s stock worth $511,608,000 after purchasing an additional 379,702 shares in the last quarter. Capital World Investors lifted its holdings in General Mills by 7.6% in the 4th quarter. Capital World Investors now owns 7,074,884 shares of the company’s stock worth $460,858,000 after purchasing an additional 501,717 shares in the last quarter. Norges Bank purchased a new position in General Mills in the 4th quarter worth approximately $377,205,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of General Mills by 4.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,003,306 shares of the company’s stock worth $325,909,000 after acquiring an additional 235,938 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Price Performance

GIS opened at $66.66 on Thursday. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $82.59. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. The business’s fifty day simple moving average is $68.83 and its 200-day simple moving average is $66.74. The company has a market capitalization of $37.86 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 2.89 and a beta of 0.12.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The business had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter in the prior year, the company earned $0.97 EPS. The business’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

Insider Transactions at General Mills

In other news, insider Werner Lanette Shaffer sold 710 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $70.57, for a total transaction of $50,104.70. Following the transaction, the insider now owns 17,397 shares of the company’s stock, valued at approximately $1,227,706.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Jonathon Nudi sold 10,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $69.21, for a total transaction of $692,100.00. Following the transaction, the insider now directly owns 93,381 shares of the company’s stock, valued at approximately $6,462,899.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Werner Lanette Shaffer sold 710 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $70.57, for a total value of $50,104.70. Following the completion of the sale, the insider now owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GIS. Morgan Stanley upped their price objective on General Mills from $58.00 to $61.00 and gave the stock an “underweight” rating in a report on Thursday, March 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $72.00 price objective on shares of General Mills in a report on Thursday, March 21st. JPMorgan Chase & Co. decreased their price objective on General Mills from $72.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, May 28th. Sanford C. Bernstein upgraded General Mills from an “underperform” rating to a “market perform” rating and increased their price target for the company from $62.00 to $70.00 in a report on Wednesday, May 15th. Finally, Bank of America increased their price target on General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, General Mills presently has an average rating of “Hold” and an average target price of $71.94.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.