General Mills, Inc. $GIS Stake Lowered by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its stake in shares of General Mills, Inc. (NYSE:GIS) by 12.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,668,900 shares of the company’s stock after selling 392,773 shares during the quarter. Pacer Advisors Inc. owned about 0.50% of General Mills worth $124,104,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in GIS. Marshall Wace LLP acquired a new stake in General Mills in the second quarter worth $9,188,000. Bank of Nova Scotia boosted its holdings in shares of General Mills by 4.1% during the second quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock valued at $3,374,000 after acquiring an additional 2,552 shares during the period. WINTON GROUP Ltd grew its position in shares of General Mills by 112.6% during the second quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock worth $465,000 after acquiring an additional 4,752 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of General Mills by 4.9% during the second quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock worth $4,250,000 after acquiring an additional 3,814 shares during the last quarter. Finally, Nebula Research & Development LLC increased its holdings in shares of General Mills by 334.2% in the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock worth $1,012,000 after acquiring an additional 15,041 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

GIS stock opened at $33.41 on Friday. The company has a market capitalization of $17.83 billion, a P/E ratio of 8.17 and a beta of -0.03. The company has a 50-day simple moving average of $34.23 and a 200 day simple moving average of $40.58. General Mills, Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $54.18. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, March 18th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.09). The company had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.53 billion. General Mills had a net margin of 12.05% and a return on equity of 19.19%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 EPS. Sell-side analysts predict that General Mills, Inc. will post 3.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on GIS shares. Stifel Nicolaus cut their price objective on shares of General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. JPMorgan Chase & Co. decreased their target price on shares of General Mills from $36.00 to $31.00 and set an “underweight” rating for the company in a research report on Wednesday, June 3rd. Mizuho dropped their price target on shares of General Mills from $47.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, March 19th. Morgan Stanley cut their price target on General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, June 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on General Mills from $38.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, March 30th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $39.39.

Insider Buying and Selling

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of the company’s stock in a transaction that occurred on 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 directly owned 62,283 shares in the company, valued at $2,148,763.50. This represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the transaction, the insider directly owned 86,002 shares of the company’s stock, valued at approximately $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by company insiders.

About General Mills

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.