CIBC Asset Management Inc Acquires 46,823 Shares of General Mills, Inc. $GIS

CIBC Asset Management Inc lifted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 20.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 270,458 shares of the company’s stock after acquiring an additional 46,823 shares during the quarter. CIBC Asset Management Inc’s holdings in General Mills were worth $12,576,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GIS. State Street Corp boosted its stake in General Mills by 0.4% in the 3rd quarter. State Street Corp now owns 33,717,972 shares of the company’s stock valued at $1,700,060,000 after purchasing an additional 145,701 shares during the period. Geode Capital Management LLC raised its holdings in General Mills by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock valued at $704,170,000 after acquiring an additional 172,200 shares in the last quarter. Norges Bank acquired a new position in General Mills in the 4th quarter valued at $361,552,000. Invesco Ltd. raised its holdings in General Mills by 13.0% in the 3rd quarter. Invesco Ltd. now owns 7,664,990 shares of the company’s stock valued at $386,469,000 after acquiring an additional 883,150 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its holdings in General Mills by 22.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company’s stock valued at $384,625,000 after acquiring an additional 1,383,913 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Stock Performance

NYSE:GIS opened at $33.18 on Friday. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $55.19. The business has a fifty day simple moving average of $34.81 and a two-hundred day simple moving average of $41.48. 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 company has a market capitalization of $17.71 billion, a P/E ratio of 8.11 and a beta of -0.03.

General Mills (NYSE:GIS) last posted its quarterly 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 return on equity of 19.19% and a net margin of 12.05%.The company had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the previous year, the business earned $1.12 earnings per share. General Mills’s revenue was down 8.4% on a year-over-year basis. On average, analysts expect that General Mills, Inc. will post 3.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

GIS has been the subject of several analyst reports. Royal Bank Of Canada dropped their price objective on General Mills from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, March 19th. BTIG Research initiated coverage on General Mills in a report on Monday, April 13th. They issued a “neutral” rating for the company. Stifel Nicolaus dropped their price objective on General Mills from $44.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $36.00 price objective on shares of General Mills in a report on Tuesday. Finally, Morgan Stanley dropped their price objective on General Mills from $37.00 to $32.00 and set an “underweight” rating for the company in a report on Friday. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $39.39.

Insider Transactions at General Mills

In other news, insider Ricardo Fernandez sold 7,995 shares of General Mills stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the transaction, the insider owned 62,283 shares in the company, valued at approximately $2,148,763.50. The trade was a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total value 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. This represents a 10.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.30% of the company’s stock.

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.