PNC Financial Services Group Inc. Sells 676,478 Shares of General Mills, Inc. $GIS

PNC Financial Services Group Inc. trimmed its holdings in shares of General Mills, Inc. (NYSE:GIS) by 40.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,003,290 shares of the company’s stock after selling 676,478 shares during the period. PNC Financial Services Group Inc.’s holdings in General Mills were worth $46,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in GIS. Worldquant Millennium Advisors LLC bought a new stake in shares of General Mills in the 2nd quarter valued at about $84,862,000. Two Sigma Investments LP boosted its stake in shares of General Mills by 82.8% during the third quarter. Two Sigma Investments LP now owns 3,415,818 shares of the company’s stock valued at $172,226,000 after purchasing an additional 1,546,993 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in General Mills by 22.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company’s stock valued at $384,625,000 after buying an additional 1,383,913 shares during the period. Invesco Ltd. increased its holdings in General Mills by 13.0% during the third quarter. Invesco Ltd. now owns 7,664,990 shares of the company’s stock valued at $386,469,000 after buying an additional 883,150 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in General Mills by 1,824.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 895,225 shares of the company’s stock worth $41,628,000 after buying an additional 848,712 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company dropped their target price on General Mills from $33.00 to $30.00 and set an “underweight” rating on the stock in a research report on Monday. Barclays reduced their price target on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, May 11th. Mizuho decreased their price objective on General Mills from $47.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, March 19th. Royal Bank Of Canada dropped their price objective on General Mills from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, March 19th. Finally, BTIG Research began coverage on General Mills in a research note on Monday, April 13th. They issued a “neutral” rating on the stock. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $42.44.

Insider Activity

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

General Mills Price Performance

NYSE GIS opened at $33.46 on Friday. The firm’s fifty day simple moving average is $35.88 and its two-hundred day simple moving average is $42.48. The company has a current ratio of 0.56, a quick ratio of 0.36 and a debt-to-equity ratio of 1.17. General Mills, Inc. has a 12-month low of $32.64 and a 12-month high of $55.19. The firm has a market capitalization of $17.85 billion, a P/E ratio of 8.18 and a beta of -0.02.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, March 18th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.09). The business 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 revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 EPS. Analysts forecast that General Mills, Inc. will post 3.43 EPS for the current fiscal year.

General Mills Company 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.