Ilmarinen Mutual Pension Insurance Co Takes Position in General Mills, Inc. $GIS

Ilmarinen Mutual Pension Insurance Co bought a new stake in General Mills, Inc. (NYSE:GIS) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 102,000 shares of the company’s stock, valued at approximately $4,743,000.

A number of other hedge funds have also recently bought and sold shares of the company. Marshall Wace LLP purchased a new stake in shares of General Mills in the second quarter worth about $9,188,000. Bank of Nova Scotia increased its holdings in General Mills by 4.1% during the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock valued at $3,374,000 after purchasing an additional 2,552 shares during the period. WINTON GROUP Ltd increased its position in General Mills by 112.6% during the 2nd quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock valued at $465,000 after purchasing an additional 4,752 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of General Mills by 4.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock worth $4,250,000 after acquiring an additional 3,814 shares during the period. Finally, Nebula Research & Development LLC grew its position in shares of General Mills by 334.2% in the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock worth $1,012,000 after buying an additional 15,041 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Performance

GIS opened at $33.82 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36. The firm has a fifty day moving average price of $35.22 and a 200 day moving average price of $41.97. The stock has a market cap of $18.05 billion, a P/E ratio of 8.27 and a beta of -0.02. General Mills, Inc. has a 1 year low of $32.64 and a 1 year high of $55.19.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, March 18th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). General Mills had a net margin of 12.05% and a return on equity of 19.19%. The firm had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period in the previous year, the company earned $1.12 EPS. General Mills’s revenue was down 8.4% compared to the same quarter last year. Equities research analysts anticipate that General Mills, Inc. will post 3.43 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on GIS shares. Royal Bank Of Canada cut their target price on General Mills from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, March 19th. 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. Barclays decreased their price target on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, May 11th. Mizuho reduced their price target on General Mills from $47.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, March 19th. Finally, The Goldman Sachs Group reduced their price objective on General Mills from $47.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, March 19th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $41.78.

Insiders Place Their Bets

In other General Mills news, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ricardo Fernandez sold 7,995 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the completion of the transaction, the insider directly owned 62,283 shares of the company’s stock, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by corporate insiders.

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.