Checchi Capital Advisers LLC Buys New Position in General Mills, Inc. (NYSE:GIS)
Checchi Capital Advisers LLC bought a new stake in General Mills, Inc. (NYSE:GIS) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,906 shares of the company’s stock, valued at approximately $259,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Buckingham Asset Management LLC raised its stake in General Mills by 10.9% during the 1st quarter. Buckingham Asset Management LLC now owns 9,163 shares of the company’s stock valued at $484,000 after acquiring an additional 897 shares during the last quarter. Shepherd Financial Partners LLC acquired a new stake in General Mills during the 1st quarter valued at $447,000. AE Wealth Management LLC grew its holdings in General Mills by 5.0% during the 1st quarter. AE Wealth Management LLC now owns 75,014 shares of the company’s stock valued at $3,958,000 after buying an additional 3,551 shares during the last quarter. Trustcore Financial Services LLC boosted its holdings in shares of General Mills by 13.4% during the first quarter. Trustcore Financial Services LLC now owns 2,454 shares of the company’s stock worth $129,000 after purchasing an additional 290 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of General Mills by 29.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 230,825 shares of the company’s stock worth $12,181,000 after buying an additional 51,892 shares during the period. 72.04% of the stock is owned by hedge funds and other institutional investors.
In other General Mills news, insider Bethany C. Quam sold 13,729 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $54.20, for a total value of $744,111.80. Following the sale, the insider now directly owns 51,749 shares in the company, valued at $2,804,795.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director R Kerry Clark sold 12,248 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $57.24, for a total transaction of $701,075.52. Following the completion of the sale, the director now owns 62,945 shares in the company, valued at $3,602,971.80. The disclosure for this sale can be found here. Insiders sold 137,668 shares of company stock worth $8,078,504 over the last 90 days. 0.52% of the stock is currently owned by company insiders.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 18th. The company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.01. General Mills had a net margin of 12.68% and a return on equity of 26.40%. The business had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the business posted $0.83 earnings per share. General Mills’s revenue was down .4% compared to the same quarter last year. On average, analysts predict that General Mills, Inc. will post 3.48 earnings per share for the current year.
GIS has been the topic of a number of analyst reports. Cfra raised General Mills from a “hold” rating to a “buy” rating and lifted their target price for the stock from $58.00 to $60.00 in a research report on Friday, March 6th. ValuEngine upgraded General Mills from a “sell” rating to a “hold” rating in a research note on Monday, March 9th. Stifel Nicolaus boosted their price objective on General Mills from $54.00 to $58.00 and gave the stock a “hold” rating in a research report on Thursday, March 19th. Sanford C. Bernstein raised General Mills from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $45.00 to $57.00 in a report on Wednesday, March 18th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $57.00 price target on shares of General Mills in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. General Mills presently has a consensus rating of “Hold” and an average target price of $58.80.
General Mills Company Profile
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, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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