Meridian Wealth Management LLC Buys 31,295 Shares of General Mills, Inc. (NYSE:GIS)

Meridian Wealth Management LLC raised its stake in shares of General Mills, Inc. (NYSE:GIS) by 451.6% in the fourth quarter, Holdings Channel reports. The fund owned 38,225 shares of the company’s stock after acquiring an additional 31,295 shares during the period. Meridian Wealth Management LLC’s holdings in General Mills were worth $2,490,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GIS. Fiera Capital Corp bought a new position in shares of General Mills in the fourth quarter valued at about $495,000. M. Kulyk & Associates LLC raised its holdings in shares of General Mills by 4.3% in the fourth quarter. M. Kulyk & Associates LLC now owns 65,944 shares of the company’s stock valued at $4,296,000 after buying an additional 2,745 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of General Mills by 26.0% in the fourth quarter. Quadrant Capital Group LLC now owns 14,259 shares of the company’s stock valued at $929,000 after buying an additional 2,940 shares during the last quarter. Apexium Financial LP bought a new position in shares of General Mills in the fourth quarter valued at about $929,000. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of General Mills in the fourth quarter valued at about $548,000. 75.71% of the stock is owned by institutional investors.

General Mills Trading Down 0.2 %

NYSE GIS opened at $71.24 on Friday. The company has a market cap of $40.46 billion, a PE ratio of 16.34, a PEG ratio of 2.46 and a beta of 0.15. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $89.28. The stock has a 50 day moving average of $69.33 and a 200-day moving average of $66.28. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, March 20th. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.12. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same period in the previous year, the business earned $0.97 EPS. General Mills’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GIS shares. Royal Bank of Canada reissued a “sector perform” rating and set a $72.00 price objective on shares of General Mills in a report on Thursday, March 21st. TD Cowen boosted their target price on General Mills from $68.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, March 21st. Bank of America boosted their target price on General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Morgan Stanley boosted their target price on General Mills from $58.00 to $61.00 and gave the stock an “underweight” rating in a research report on Thursday, March 21st. Finally, Citigroup assumed coverage on General Mills in a research report on Thursday, February 1st. They set a “neutral” rating and a $67.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, General Mills presently has an average rating of “Hold” and an average price target of $72.06.

Insider Buying and Selling

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of General Mills stock in a transaction on Monday, May 13th. The shares were sold at an average price of $70.57, for a total transaction of $50,104.70. Following the completion of the transaction, the insider now directly owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Werner Lanette Shaffer sold 710 shares of the business’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 transaction of $50,104.70. Following the completion of the sale, the insider now owns 17,397 shares in the company, valued at $1,227,706.29. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jonathon Nudi sold 10,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $69.21, for a total value of $692,100.00. Following the transaction, the insider now owns 93,381 shares in the company, valued at approximately $6,462,899.01. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,765 shares of company stock valued at $745,822. 0.24% of the stock is owned by insiders.

General Mills Profile

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.