Massmutual Trust Co. FSB ADV Buys 229 Shares of General Mills, Inc. (NYSE:GIS)

Posted by on Jun 24th, 2023

Massmutual Trust Co. FSB ADV lifted its stake in shares of General Mills, Inc. (NYSE:GIS – Get Rating) by 28.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,035 shares of the company’s stock after acquiring an additional 229 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in General Mills were worth $88,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV increased its holdings in shares of General Mills by 1.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 13,284 shares of the company’s stock valued at $1,114,000 after acquiring an additional 133 shares in the last quarter. Strategic Investment Advisors MI lifted its position in shares of General Mills by 1.2% during the 4th quarter. Strategic Investment Advisors MI now owns 11,193 shares of the company’s stock valued at $939,000 after buying an additional 134 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its holdings in General Mills by 3.6% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,874 shares of the company’s stock worth $325,000 after purchasing an additional 135 shares in the last quarter. LCM Capital Management Inc lifted its holdings in General Mills by 1.9% during the 4th quarter. LCM Capital Management Inc now owns 7,262 shares of the company’s stock worth $609,000 after purchasing an additional 136 shares in the last quarter. Finally, Atlas Capital Advisors LLC lifted its holdings in General Mills by 2.1% during the 4th quarter. Atlas Capital Advisors LLC now owns 6,575 shares of the company’s stock worth $551,000 after purchasing an additional 136 shares in the last quarter. 76.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $76.00 target price on shares of General Mills in a research note on Friday, March 24th. Mizuho increased their price objective on General Mills from $75.00 to $80.00 in a report on Monday, March 27th. JPMorgan Chase & Co. raised their target price on General Mills from $76.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, March 16th. Deutsche Bank Aktiengesellschaft raised their target price on General Mills from $84.00 to $86.00 in a research note on Friday, March 24th. Finally, Stifel Nicolaus initiated coverage on General Mills in a research note on Thursday, April 13th. They set a “buy” rating and a $95.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $84.76.

Insider Activity

In other news, CAO Mark A. Pallot sold 4,081 shares of General Mills stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $90.32, for a total transaction of $368,595.92. Following the sale, the chief accounting officer now owns 13,121 shares of the company’s stock, valued at approximately $1,185,088.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Jonathon Nudi sold 8,030 shares of General Mills stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $85.33, for a total value of $685,199.90. Following the completion of the sale, the insider now owns 83,049 shares in the company, valued at approximately $7,086,571.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark A. Pallot sold 4,081 shares of the business’s stock in a transaction on 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 transaction, the chief accounting officer now owns 13,121 shares of the company’s stock, valued at approximately $1,185,088.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,371 shares of company stock valued at $4,849,178. 0.67% of the stock is currently owned by company insiders.

General Mills Price Performance

NYSE:GIS opened at $81.32 on Friday. The stock has a market capitalization of $47.76 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 2.40 and a beta of 0.27. General Mills, Inc. has a 52 week low of $68.82 and a 52 week high of $90.89. The stock’s 50-day moving average price is $85.82 and its 200-day moving average price is $83.22. The company has a quick ratio of 0.32, a current ratio of 0.54 and a debt-to-equity ratio of 0.78.

General Mills (NYSE:GIS – Get Rating) last issued its quarterly earnings results on Thursday, March 23rd. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. General Mills had a net margin of 14.04% and a return on equity of 24.51%. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same period last year, the company posted $0.84 EPS. General Mills’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, equities analysts expect that General Mills, Inc. will post 4.24 EPS for the current fiscal year.

About General Mills

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General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers 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, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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