Cetera Advisor Networks LLC Raises Stock Holdings in General Mills, Inc. (NYSE:GIS)

Posted by Defense World Staff on Jun 13th, 2023

Cetera Advisor Networks LLC grew its stake in General Mills, Inc. (NYSE:GIS – Get Rating) by 17.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 131,771 shares of the company’s stock after acquiring an additional 19,364 shares during the quarter. Cetera Advisor Networks LLC’s holdings in General Mills were worth $11,049,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GIS. Capital Wealth Planning LLC boosted its holdings in General Mills by 42.2% in the fourth quarter. Capital Wealth Planning LLC now owns 3,547,188 shares of the company’s stock worth $297,432,000 after acquiring an additional 1,052,899 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in General Mills by 56,697.1% in the third quarter. Canada Pension Plan Investment Board now owns 857,636 shares of the company’s stock worth $65,703,000 after acquiring an additional 856,126 shares in the last quarter. Bank of Montreal Can boosted its holdings in General Mills by 112.4% in the fourth quarter. Bank of Montreal Can now owns 1,464,414 shares of the company’s stock worth $122,791,000 after acquiring an additional 774,961 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in General Mills by 572.4% in the fourth quarter. Panagora Asset Management Inc. now owns 731,955 shares of the company’s stock worth $61,374,000 after acquiring an additional 623,091 shares in the last quarter. Finally, Intech Investment Management LLC boosted its holdings in General Mills by 209.9% in the third quarter. Intech Investment Management LLC now owns 790,928 shares of the company’s stock worth $60,592,000 after acquiring an additional 535,715 shares in the last quarter. 74.48% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Mark A. Pallot sold 4,081 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $90.32, for a total transaction of $368,595.92. Following the completion of the sale, the chief accounting officer now owns 13,121 shares in the company, valued at $1,185,088.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Mark A. Pallot sold 4,081 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $90.32, for a total transaction of $368,595.92. Following the completion of the sale, the chief accounting officer now owns 13,121 shares in the company, valued at $1,185,088.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bethany C. Quam sold 21,734 shares of the stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $85.86, for a total value of $1,866,081.24. Following the sale, the insider now owns 47,560 shares of the company’s stock, valued at approximately $4,083,501.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,371 shares of company stock worth $4,849,178. 0.67% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of research analyst reports. Morgan Stanley upped their price target on General Mills from $73.00 to $77.00 and gave the company an “underweight” rating in a report on Tuesday, April 11th. Barclays upped their price target on General Mills from $81.00 to $83.00 in a report on Monday, March 27th. Deutsche Bank Aktiengesellschaft upped their price target on General Mills from $84.00 to $86.00 in a report on Friday, March 24th. JPMorgan Chase & Co. upped their price target on General Mills from $76.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, March 16th. Finally, StockNews.com initiated coverage on General Mills in a report on Thursday, May 18th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $84.76.

General Mills Stock Performance

Shares of GIS opened at $81.58 on Tuesday. The company has a quick ratio of 0.32, a current ratio of 0.54 and a debt-to-equity ratio of 0.78. The business has a 50-day simple moving average of $86.88 and a two-hundred day simple moving average of $83.44. The stock has a market cap of $47.92 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.45 and a beta of 0.27. General Mills, Inc. has a 52 week low of $64.94 and a 52 week high of $90.89.

General Mills (NYSE:GIS – Get Rating) last issued its quarterly earnings results on Thursday, March 23rd. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $4.97 billion. General Mills had a return on equity of 24.51% and a net margin of 14.04%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.84 earnings per share. On average, analysts expect that General Mills, Inc. will post 4.23 EPS for the current year.

General Mills Profile

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General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. The firm operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet, and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.