General Mills, Inc. (NYSE:GIS) Shares Sold by Bronte Capital Management Pty Ltd.

Bronte Capital Management Pty Ltd. cut its position in General Mills, Inc. (NYSE:GIS) by 28.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 99,176 shares of the company’s stock after selling 39,630 shares during the period. General Mills makes up 0.6% of Bronte Capital Management Pty Ltd.’s holdings, making the stock its 22nd largest position. Bronte Capital Management Pty Ltd.’s holdings in General Mills were worth $6,460,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GIS. Cetera Trust Company N.A purchased a new stake in shares of General Mills in the 4th quarter valued at $50,000. Bruce G. Allen Investments LLC purchased a new position in shares of General Mills during the 4th quarter valued at about $28,000. Apollon Wealth Management LLC lifted its holdings in shares of General Mills by 122.7% in the 4th quarter. Apollon Wealth Management LLC now owns 23,675 shares of the company’s stock valued at $1,542,000 after buying an additional 13,043 shares during the period. Sabal Trust CO grew its holdings in General Mills by 7,817.6% during the fourth quarter. Sabal Trust CO now owns 290,179 shares of the company’s stock worth $18,902,000 after acquiring an additional 286,514 shares during the period. Finally, Welch Group LLC grew its stake in shares of General Mills by 2.8% during the 4th quarter. Welch Group LLC now owns 615,389 shares of the company’s stock worth $40,086,000 after purchasing an additional 16,883 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Bank of America upped their target price on General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. TD Cowen raised their price target on shares of General Mills from $68.00 to $70.00 and gave the stock a “market perform” rating in a research note on Thursday, March 21st. Barclays lifted their price objective on General Mills from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $72.00 price target on shares of General Mills in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $72.18.

General Mills Stock Performance

Shares of GIS stock traded up $0.72 during midday trading on Thursday, hitting $70.25. The company had a trading volume of 2,397,352 shares, compared to its average volume of 4,145,590. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.66 and a quick ratio of 0.40. The company’s 50 day simple moving average is $68.46 and its 200 day simple moving average is $66.00. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $90.89. The stock has a market cap of $39.89 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 2.41 and a beta of 0.15.

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

Insider Transactions at General Mills

In other General Mills news, insider Jonathon Nudi sold 10,000 shares of General Mills stock in a transaction on Friday, March 22nd. The shares were 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.24% of the company’s stock.

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.