M&T Bank Corp Buys 17,415 Shares of General Mills, Inc. $GIS

M&T Bank Corp boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 9.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 208,274 shares of the company’s stock after purchasing an additional 17,415 shares during the quarter. M&T Bank Corp’s holdings in General Mills were worth $9,685,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Retirement Planning Co of New England Inc. boosted its position in General Mills by 4.2% during the third quarter. Retirement Planning Co of New England Inc. now owns 5,416 shares of the company’s stock worth $273,000 after purchasing an additional 219 shares during the period. Smith Moore & CO. boosted its stake in General Mills by 2.6% during the 3rd quarter. Smith Moore & CO. now owns 8,785 shares of the company’s stock valued at $443,000 after purchasing an additional 225 shares during the period. Stonebridge Capital Advisors LLC boosted its stake in General Mills by 0.7% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company’s stock valued at $1,702,000 after purchasing an additional 226 shares during the period. Tempus Wealth Planning LLC boosted its stake in General Mills by 5.7% during the 3rd quarter. Tempus Wealth Planning LLC now owns 4,297 shares of the company’s stock valued at $217,000 after purchasing an additional 231 shares during the period. Finally, N.E.W. Advisory Services LLC boosted its stake in General Mills by 35.4% during the 3rd quarter. N.E.W. Advisory Services LLC now owns 937 shares of the company’s stock valued at $47,000 after purchasing an additional 245 shares during the period. Institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on GIS shares. Barclays decreased their target price on General Mills from $46.00 to $43.00 and set an “equal weight” rating for the company in a research note on Monday, March 16th. The Goldman Sachs Group decreased their target price on General Mills from $47.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, March 19th. Royal Bank Of Canada decreased their price target on shares of General Mills from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, March 19th. UBS Group decreased their price target on shares of General Mills from $40.00 to $35.00 and set a “sell” rating on the stock in a research report on Thursday, March 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Mills from $38.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $43.22.

General Mills Price Performance

Shares of NYSE:GIS opened at $34.57 on Wednesday. General Mills, Inc. has a 1-year low of $33.58 and a 1-year high of $55.35. The firm has a market capitalization of $18.45 billion, a PE ratio of 8.45 and a beta of -0.02. The business’s 50 day moving average is $38.37 and its 200-day moving average is $43.66. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.09). General Mills had a return on equity of 19.19% and a net margin of 12.05%.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 business posted $1.12 EPS. General Mills’s revenue for the quarter was down 8.4% compared to the same quarter last year. Sell-side analysts predict that General Mills, Inc. will post 3.44 earnings per share for the current year.

About General Mills

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.