Pingora Partners LLC Grows Position in General Mills, Inc. $GIS

Pingora Partners LLC increased its holdings in General Mills, Inc. (NYSE:GIS) by 2,637.5% in the fourth quarter, Holdings Channel reports. The fund owned 21,900 shares of the company’s stock after purchasing an additional 21,100 shares during the quarter. Pingora Partners LLC’s holdings in General Mills were worth $1,018,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC purchased a new stake in General Mills in the third quarter worth about $25,000. Bruce G. Allen Investments LLC lifted its stake in General Mills by 139.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after acquiring an additional 337 shares during the period. Close Asset Management Ltd purchased a new stake in General Mills in the third quarter worth about $28,000. Zions Bancorporation National Association UT lifted its stake in General Mills by 248.1% in the fourth quarter. Zions Bancorporation National Association UT now owns 630 shares of the company’s stock worth $29,000 after acquiring an additional 449 shares during the period. Finally, Activest Wealth Management lifted its stake in General Mills by 211.7% in the fourth quarter. Activest Wealth Management now owns 695 shares of the company’s stock worth $32,000 after acquiring an additional 472 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total transaction of $342,700.00. Following the transaction, the insider owned 86,002 shares in the company, valued at $2,947,288.54. This represents a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ricardo Fernandez sold 7,995 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the transaction, the insider owned 62,283 shares in the company, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.30% of the company’s stock.

General Mills Stock Performance

GIS stock opened at $34.47 on Monday. The firm has a market cap of $18.40 billion, a price-to-earnings ratio of 8.43 and a beta of -0.03. The firm has a 50-day simple moving average of $34.51 and a two-hundred day simple moving average of $40.95. General Mills, Inc. has a one year low of $31.75 and a one year high of $55.13. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.09). The firm had revenue of $4.44 billion for the quarter, compared to analysts’ expectations of $4.53 billion. General Mills had a net margin of 12.05% and a return on equity of 19.19%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 earnings per share. On average, equities analysts forecast that General Mills, Inc. will post 3.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on GIS. Mizuho lowered their price objective 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. TD Cowen lowered their price objective on shares of General Mills from $45.00 to $37.00 and set a “hold” rating for the company in a research note on Thursday, March 19th. Zacks Research lowered shares of General Mills from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. Sanford C. Bernstein lowered shares of General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price target for the company. in a research report on Wednesday, June 3rd. Finally, Stifel Nicolaus decreased their price target on shares of General Mills from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and seven have given a Sell rating to the company. According to MarketBeat.com, General Mills has a consensus rating of “Reduce” and an average price target of $39.39.

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.