Wedbush Securities Inc. Acquires 5,037 Shares of General Mills, Inc. (NYSE:GIS)


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Wedbush Securities Inc. grew its position in General Mills, Inc. (NYSE:GIS) by 60.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,420 shares of the company’s stock after purchasing an additional 5,037 shares during the quarter. Wedbush Securities Inc.’s holdings in General Mills were worth $823,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GIS. Norges Bank acquired a new position in shares of General Mills in the fourth quarter valued at approximately $385,851,000. Federated Hermes Inc. grew its position in shares of General Mills by 183.8% in the fourth quarter. Federated Hermes Inc. now owns 4,137,872 shares of the company’s stock valued at $243,307,000 after purchasing an additional 2,679,622 shares during the last quarter. Cooke & Bieler LP grew its position in General Mills by 14,091.2% during the fourth quarter. Cooke & Bieler LP now owns 943,717 shares of the company’s stock worth $55,490,000 after buying an additional 937,067 shares in the last quarter. Voloridge Investment Management LLC grew its position in General Mills by 2,173.5% during the fourth quarter. Voloridge Investment Management LLC now owns 894,380 shares of the company’s stock worth $52,590,000 after buying an additional 855,040 shares in the last quarter. Finally, State of Wisconsin Investment Board grew its position in General Mills by 125.3% during the fourth quarter. State of Wisconsin Investment Board now owns 1,274,201 shares of the company’s stock worth $74,923,000 after buying an additional 708,687 shares in the last quarter. 73.17% of the stock is currently owned by institutional investors.

Shares of NYSE:GIS opened at $61.60 on Tuesday. The firm has a market cap of $37.57 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.98 and a beta of 0.57. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 1.24. General Mills, Inc. has a 12-month low of $53.96 and a 12-month high of $66.14. The business has a fifty day simple moving average of $60.81 and a 200 day simple moving average of $59.18.

General Mills (NYSE:GIS) last announced its earnings results on Tuesday, March 23rd. The company reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). General Mills had a return on equity of 28.60% and a net margin of 13.16%. The company had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.45 billion. During the same period in the prior year, the business earned $0.77 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities research analysts expect that General Mills, Inc. will post 3.73 EPS for the current year.

A number of brokerages recently issued reports on GIS. Morgan Stanley reduced their price target on General Mills from $63.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 14th. Credit Suisse Group reduced their price target on General Mills from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, March 29th. JPMorgan Chase & Co. reduced their price target on General Mills from $62.00 to $55.00 in a research report on Tuesday, January 19th. Finally, Jefferies Financial Group cut their target price on General Mills from $64.00 to $59.00 and set a “hold” rating for the company in a research note on Tuesday, January 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $63.27.

In other General Mills news, insider Jonathon Nudi sold 11,828 shares of the stock in a transaction dated Tuesday, March 30th. The stock was sold at an average price of $61.82, for a total transaction of $731,206.96. Also, insider Bethany C. Quam sold 10,732 shares of the stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $61.72, for a total value of $662,379.04. Following the sale, the insider now owns 55,248 shares of the company’s stock, valued at $3,409,906.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,208 shares of company stock valued at $4,436,830. Company insiders own 0.51% of the company’s stock.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, snack bars, fruit snacks, nutrition bars, and savory snacks, as well as organic products, including refrigerated yogurt, frozen and shelf-stable vegetables, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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