Summit Global Investments Has $217,000 Stake in General Mills, Inc. (NYSE:GIS)

Summit Global Investments lowered its stake in General Mills, Inc. (NYSE:GIS) by 88.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,327 shares of the company’s stock after selling 25,021 shares during the period. Summit Global Investments’ holdings in General Mills were worth $217,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Operose Advisors LLC lifted its stake in shares of General Mills by 214.1% during the third quarter. Operose Advisors LLC now owns 402 shares of the company’s stock valued at $26,000 after acquiring an additional 274 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of General Mills during the 4th quarter worth approximately $28,000. Authentikos Wealth Advisory LLC acquired a new position in General Mills in the third quarter valued at approximately $31,000. HHM Wealth Advisors LLC acquired a new stake in General Mills during the 3rd quarter worth $32,000. Finally, Fortitude Family Office LLC bought a new stake in shares of General Mills during the 4th quarter valued at $40,000. Institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GIS shares. Morgan Stanley lifted their price objective on General Mills from $58.00 to $61.00 and gave the stock an “underweight” rating in a research note on Thursday, March 21st. Stifel Nicolaus reissued a “buy” rating and set a $77.00 price target on shares of General Mills in a research report on Monday, April 22nd. HSBC boosted their target price on General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $72.00 target price on shares of General Mills in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $72.18.

Insider Activity

In other General Mills news, insider Jonathon Nudi sold 10,000 shares of General Mills stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $69.21, for a total value of $692,100.00. Following the completion of the sale, the insider now directly owns 93,381 shares of the company’s stock, valued at $6,462,899.01. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.24% of the stock is currently owned by company insiders.

General Mills Trading Down 1.1 %

Shares of NYSE GIS opened at $69.14 on Tuesday. The stock has a market cap of $39.26 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 2.41 and a beta of 0.15. The firm has a 50 day moving average price of $68.24 and a two-hundred day moving average price of $65.93. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.66. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $90.89.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $4.97 billion. During the same period last year, the company earned $0.97 EPS. General Mills’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts forecast that General Mills, Inc. will post 4.51 EPS for the current year.

About General Mills

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.