MGO One Seven LLC Cuts Position in General Mills, Inc. $GIS

MGO One Seven LLC cut its stake in General Mills, Inc. (NYSE:GIS) by 59.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,326 shares of the company’s stock after selling 23,458 shares during the period. MGO One Seven LLC’s holdings in General Mills were worth $759,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp grew its position in General Mills by 0.4% in the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock worth $1,700,060,000 after acquiring an additional 145,701 shares in the last quarter. Nordea Investment Management AB lifted its stake in General Mills by 15.9% in the third quarter. Nordea Investment Management AB now owns 9,956,665 shares of the company’s stock worth $494,548,000 after purchasing an additional 1,368,041 shares during the last quarter. Invesco Ltd. lifted its stake in General Mills by 13.0% in the third quarter. Invesco Ltd. now owns 7,664,990 shares of the company’s stock worth $386,469,000 after purchasing an additional 883,150 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in General Mills by 22.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company’s stock worth $384,625,000 after purchasing an additional 1,383,913 shares during the last quarter. Finally, Capital World Investors lifted its stake in General Mills by 0.3% in the third quarter. Capital World Investors now owns 5,585,110 shares of the company’s stock worth $281,601,000 after purchasing an additional 16,028 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on GIS shares. Weiss Ratings downgraded shares of General Mills from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 13th. Sanford C. Bernstein lowered their price target on shares of General Mills from $53.00 to $48.00 and set a “market perform” rating for the company in a research note on Wednesday, February 18th. Bank of America downgraded shares of General Mills from a “buy” rating to a “neutral” rating and set a $48.00 price target for the company. in a research note on Monday, February 23rd. Mizuho lowered their price target on shares of General Mills from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, March 19th. Finally, Barclays lowered their price target on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Mills presently has a consensus rating of “Reduce” and a consensus price target of $42.83.

General Mills Trading Up 0.9%

NYSE:GIS opened at $34.10 on Wednesday. General Mills, Inc. has a one year low of $33.37 and a one year high of $55.35. 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’s 50-day simple moving average is $37.33 and its 200 day simple moving average is $43.17. The firm has a market capitalization of $18.20 billion, a P/E ratio of 8.34 and a beta of -0.02.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, March 18th. The company reported $0.64 EPS 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 business had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the previous year, the firm earned $1.12 EPS. The company’s revenue was down 8.4% on a year-over-year basis. As a group, analysts forecast that General Mills, Inc. will post 3.44 EPS for the current fiscal year.

General Mills Company 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.