Kingsview Wealth Management LLC Sells 26,493 Shares of General Mills, Inc. $GIS

Kingsview Wealth Management LLC cut its holdings in General Mills, Inc. (NYSE:GIS) by 13.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 176,256 shares of the company’s stock after selling 26,493 shares during the quarter. Kingsview Wealth Management LLC’s holdings in General Mills were worth $8,196,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Marshall Wace LLP bought a new stake in shares of General Mills in the 2nd quarter valued at $9,188,000. Bank of Nova Scotia grew its holdings in General Mills by 4.1% in the second quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock worth $3,374,000 after purchasing an additional 2,552 shares during the period. WINTON GROUP Ltd grew its holdings in General Mills by 112.6% in the second quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock worth $465,000 after purchasing an additional 4,752 shares during the period. Daiwa Securities Group Inc. increased its stake in General Mills by 4.9% in the second quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock valued at $4,250,000 after purchasing an additional 3,814 shares in the last quarter. Finally, Nebula Research & Development LLC increased its stake in General Mills by 334.2% in the second quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock valued at $1,012,000 after purchasing an additional 15,041 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Activity at General Mills

In related news, insider Ricardo Fernandez sold 7,995 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total transaction of $275,827.50. Following the completion of the sale, the insider owned 62,283 shares in the company, valued at approximately $2,148,763.50. This represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the sale, the insider directly owned 86,002 shares of the company’s stock, valued at $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is owned by insiders.

General Mills Trading Up 0.6%

GIS opened at $33.86 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36. General Mills, Inc. has a fifty-two week low of $32.64 and a fifty-two week high of $55.19. The firm has a market capitalization of $18.07 billion, a PE ratio of 8.28 and a beta of -0.02. The company’s 50-day moving average is $35.30 and its 200 day moving average is $42.03.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.53 billion. General Mills had a net margin of 12.05% and a return on equity of 19.19%. General Mills’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 EPS. As a group, research analysts predict that General Mills, Inc. will post 3.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GIS. JPMorgan Chase & Co. cut their price objective on shares of General Mills from $42.00 to $36.00 and set an “underweight” rating on the stock in a research report on Thursday, March 19th. Morgan Stanley decreased their target price on General Mills from $47.00 to $44.00 and set an “underweight” rating for the company in a research report on Wednesday, February 18th. Wells Fargo & Company dropped their price target on General Mills from $33.00 to $30.00 and set an “underweight” rating on the stock in a research note on Monday, May 18th. Bank of America cut their price target on General Mills from $42.00 to $36.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Sanford C. Bernstein decreased their price objective on General Mills from $53.00 to $48.00 and set a “market perform” rating for the company in a report on Wednesday, February 18th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $41.78.

General Mills 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.