Bronte Capital Management Pty Ltd. Cuts Position in General Mills, Inc. (NYSE:GIS)

Bronte Capital Management Pty Ltd. lowered its holdings in shares of General Mills, Inc. (NYSE:GIS) by 28.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,176 shares of the company’s stock after selling 39,630 shares during the quarter. General Mills makes up 0.6% of Bronte Capital Management Pty Ltd.’s holdings, making the stock its 22nd largest position. Bronte Capital Management Pty Ltd.’s holdings in General Mills were worth $6,460,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GIS. Operose Advisors LLC raised its position in General Mills by 214.1% during the third quarter. Operose Advisors LLC now owns 402 shares of the company’s stock worth $26,000 after acquiring an additional 274 shares during the period. MeadowBrook Investment Advisors LLC acquired a new position in shares of General Mills during the 4th quarter worth about $27,000. Bruce G. Allen Investments LLC purchased a new position in General Mills in the 4th quarter valued at about $28,000. Authentikos Wealth Advisory LLC acquired a new stake in General Mills in the 3rd quarter worth about $31,000. Finally, HHM Wealth Advisors LLC purchased a new stake in General Mills during the 3rd quarter worth approximately $32,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GIS has been the topic of a number of research analyst reports. Bank of America lifted their price target on General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. TD Cowen upped their target price on shares of General Mills from $68.00 to $70.00 and gave the stock a “market perform” rating in a report on Thursday, March 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $72.00 price target on shares of General Mills in a research note on Thursday, March 21st. Citigroup started coverage on shares of General Mills in a research note on Thursday, February 1st. They set a “neutral” rating and a $67.00 price objective for the company. Finally, Barclays boosted their target price on General Mills from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $72.18.

General Mills Stock Up 1.0 %

GIS stock traded up $0.72 during midday trading on Thursday, hitting $70.25. The company’s stock had a trading volume of 2,397,352 shares, compared to its average volume of 4,145,590. The firm has a 50-day simple moving average of $68.46 and a 200-day simple moving average of $66.00. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.14. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $90.89. The firm has a market capitalization of $39.89 billion, a P/E ratio of 16.11, a PEG ratio of 2.41 and a beta of 0.15.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.12. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $4.97 billion. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The company’s revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $0.97 EPS. As a group, equities analysts forecast that General Mills, Inc. will post 4.51 EPS for the current year.

Insider Transactions at General Mills

In other news, insider Jonathon Nudi sold 10,000 shares of General Mills stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $69.21, for a total value of $692,100.00. Following the transaction, the insider now directly owns 93,381 shares of the company’s stock, valued at approximately $6,462,899.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.24% of the company’s stock.

General Mills Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, 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 and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.