Pinebridge Investments L.P. Purchases 40,551 Shares of General Mills, Inc. (NYSE:GIS)

Pinebridge Investments L.P. boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 9.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 448,410 shares of the company’s stock after buying an additional 40,551 shares during the period. Pinebridge Investments L.P. owned approximately 0.08% of General Mills worth $29,209,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GIS. Operose Advisors LLC grew its position in shares of General Mills by 214.1% during the 3rd quarter. Operose Advisors LLC now owns 402 shares of the company’s stock worth $26,000 after buying an additional 274 shares in the last quarter. MeadowBrook Investment Advisors LLC bought a new stake in General Mills during the fourth quarter valued at about $27,000. Bruce G. Allen Investments LLC bought a new stake in General Mills during the fourth quarter valued at about $28,000. Fortitude Family Office LLC bought a new stake in General Mills during the fourth quarter valued at about $40,000. Finally, Northwest Financial Advisors bought a new stake in General Mills during the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

NYSE:GIS traded down $0.69 during trading hours on Wednesday, reaching $67.45. The company had a trading volume of 3,293,855 shares, compared to its average volume of 4,063,860. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $85.78. The firm has a market cap of $38.30 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 2.93 and a beta of 0.12. The business’s 50 day moving average price is $69.51 and its 200-day moving average price is $66.58. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.66 and a quick ratio of 0.40.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.12. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same period in the previous year, the company posted $0.97 earnings per share. General Mills’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts forecast that General Mills, Inc. will post 4.51 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $72.00 price objective on shares of General Mills in a research report on Thursday, March 21st. Morgan Stanley raised their price target on General Mills from $58.00 to $61.00 and gave the stock an “underweight” rating in a report on Thursday, March 21st. Wells Fargo & Company raised their price target on General Mills from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. lowered their price target on General Mills from $72.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, May 28th. Finally, HSBC raised their price target on General Mills from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, General Mills has an average rating of “Hold” and a consensus price target of $71.94.

Insider Buying and Selling at General Mills

In other news, insider Jonathon Nudi sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $69.21, for a total transaction 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 approximately $6,462,899.01. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Jonathon Nudi sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $69.21, for a total transaction 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 approximately $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 company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the transaction, the insider now directly owns 17,397 shares of the company’s stock, 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.

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.