Sawgrass Asset Management LLC Raises Holdings in General Mills, Inc. (GIS)

Sawgrass Asset Management LLC boosted its holdings in General Mills, Inc. (NYSE:GIS) by 10.2% during the 1st quarter, HoldingsChannel reports. The fund owned 19,350 shares of the company’s stock after purchasing an additional 1,785 shares during the quarter. Sawgrass Asset Management LLC’s holdings in General Mills were worth $1,001,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GIS. Actinver Wealth Management Inc. acquired a new stake in General Mills in the fourth quarter worth about $991,000. Two Sigma Advisers LP grew its position in General Mills by 24.1% in the fourth quarter. Two Sigma Advisers LP now owns 897,719 shares of the company’s stock worth $34,957,000 after acquiring an additional 174,157 shares in the last quarter. Norges Bank purchased a new position in General Mills in the fourth quarter worth about $208,406,000. DNB Asset Management AS grew its position in General Mills by 27.4% in the first quarter. DNB Asset Management AS now owns 110,514 shares of the company’s stock worth $5,719,000 after acquiring an additional 23,762 shares in the last quarter. Finally, Stifel Financial Corp grew its position in General Mills by 5.5% in the fourth quarter. Stifel Financial Corp now owns 1,864,294 shares of the company’s stock worth $72,721,000 after acquiring an additional 96,997 shares in the last quarter. Hedge funds and other institutional investors own 69.22% of the company’s stock.

Several research analysts recently commented on the company. Bank of America reiterated a “neutral” rating and issued a $49.00 price target on shares of General Mills in a research report on Friday. Wells Fargo & Co lifted their price target on General Mills from $53.00 to $56.00 and gave the stock a “positive” rating in a research report on Friday, March 22nd. Morgan Stanley lifted their price target on General Mills from $41.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. lifted their price target on General Mills from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Finally, Credit Suisse Group lifted their price target on General Mills from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $50.16.

In related news, Director R Kerry Clark sold 14,836 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $51.57, for a total value of $765,092.52. Following the completion of the transaction, the director now owns 62,211 shares of the company’s stock, valued at $3,208,221.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Donal L. Mulligan sold 120,722 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $47.50, for a total transaction of $5,734,295.00. Following the completion of the transaction, the chief financial officer now directly owns 252,326 shares of the company’s stock, valued at approximately $11,985,485. The disclosure for this sale can be found here. Insiders sold 444,222 shares of company stock valued at $21,764,784 in the last three months. 0.59% of the stock is currently owned by insiders.

Shares of NYSE:GIS opened at $52.40 on Monday. The company has a market capitalization of $31.38 billion, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 2.38 and a beta of 0.77. General Mills, Inc. has a 52 week low of $36.42 and a 52 week high of $53.00. The company has a quick ratio of 0.35, a current ratio of 0.55 and a debt-to-equity ratio of 1.61.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, March 20th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.14. The company had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.21 billion. General Mills had a net margin of 9.26% and a return on equity of 28.11%. General Mills’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 earnings per share. On average, sell-side analysts predict that General Mills, Inc. will post 3.14 EPS for the current fiscal year.

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

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