Dynamic Technology Lab Private Ltd Buys New Stake in General Mills, Inc. (NYSE:GIS)

Dynamic Technology Lab Private Ltd bought a new stake in General Mills, Inc. (NYSE:GIS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,942 shares of the company’s stock, valued at approximately $713,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of General Mills in the fourth quarter worth $377,205,000. Massachusetts Financial Services Co. MA grew its stake in shares of General Mills by 106.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,442,653 shares of the company’s stock worth $224,254,000 after acquiring an additional 1,778,345 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of General Mills by 48.7% in the third quarter. Nordea Investment Management AB now owns 5,051,607 shares of the company’s stock worth $325,728,000 after acquiring an additional 1,654,111 shares in the last quarter. American Century Companies Inc. grew its stake in shares of General Mills by 257.7% in the third quarter. American Century Companies Inc. now owns 1,061,943 shares of the company’s stock worth $67,954,000 after acquiring an additional 765,070 shares in the last quarter. Finally, LSV Asset Management grew its stake in shares of General Mills by 165.6% in the fourth quarter. LSV Asset Management now owns 1,049,750 shares of the company’s stock worth $68,381,000 after acquiring an additional 654,550 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on GIS. Royal Bank of Canada restated a “sector perform” rating and issued a $72.00 price target on shares of General Mills in a research note on Thursday, March 21st. Wells Fargo & Company lifted their price objective on shares of General Mills from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Barclays lifted their price objective on shares of General Mills from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. HSBC lifted their price objective on shares of General Mills from $74.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. Finally, Bank of America lifted their price objective on shares of General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, General Mills currently has an average rating of “Hold” and a consensus price target of $72.06.

Insider Buying and Selling

In other General Mills news, 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 transaction, the insider now directly owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The sale was disclosed in a filing with the SEC, which is available at this link. In other General Mills news, insider Jonathon Nudi sold 10,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 93,381 shares of the company’s stock, valued at $6,462,899.01. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Werner Lanette Shaffer sold 710 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $70.57, for a total transaction of $50,104.70. Following the completion of the sale, the insider now owns 17,397 shares in the company, valued at $1,227,706.29. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

General Mills Trading Down 0.4 %

NYSE GIS opened at $70.35 on Thursday. The stock has a market capitalization of $39.95 billion, a P/E ratio of 16.13, a P/E/G ratio of 3.14 and a beta of 0.15. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $85.84. The firm has a 50-day moving average price of $69.62 and a 200 day moving average price of $66.39. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.14.

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 the consensus estimate of $1.05 by $0.12. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $4.97 billion. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 earnings per share. Equities research analysts expect 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.