General Mills, Inc. (NYSE:GIS) Holdings Lowered by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its stake in shares of General Mills, Inc. (NYSE:GIS) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,113 shares of the company’s stock after selling 1,384 shares during the period. Park Avenue Securities LLC’s holdings in General Mills were worth $1,980,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. TCW Group Inc. lifted its holdings in shares of General Mills by 0.8% during the fourth quarter. TCW Group Inc. now owns 23,061 shares of the company’s stock valued at $1,471,000 after purchasing an additional 194 shares during the last quarter. Quadrant Private Wealth Management LLC lifted its holdings in shares of General Mills by 3.7% during the fourth quarter. Quadrant Private Wealth Management LLC now owns 5,579 shares of the company’s stock valued at $356,000 after purchasing an additional 197 shares during the last quarter. Howard Capital Management Inc. raised its position in General Mills by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 3,916 shares of the company’s stock valued at $250,000 after buying an additional 198 shares during the period. Bogart Wealth LLC raised its position in General Mills by 5.2% during the fourth quarter. Bogart Wealth LLC now owns 4,055 shares of the company’s stock valued at $259,000 after buying an additional 201 shares during the period. Finally, Fairscale Capital LLC raised its position in General Mills by 30.2% during the fourth quarter. Fairscale Capital LLC now owns 871 shares of the company’s stock valued at $56,000 after buying an additional 202 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. UBS Group dropped their price target on General Mills from $54.00 to $52.00 and set a “sell” rating on the stock in a research report on Friday, June 6th. Barclays dropped their price target on General Mills from $68.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 18th. Mizuho dropped their price target on General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Citigroup dropped their price target on General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Finally, Piper Sandler dropped their price target on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, General Mills currently has a consensus rating of “Hold” and a consensus price target of $63.44.

General Mills Stock Performance

Shares of GIS stock opened at $54.47 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. General Mills, Inc. has a fifty-two week low of $52.39 and a fifty-two week high of $75.90. The stock’s 50-day moving average is $55.63 and its two-hundred day moving average is $59.50. The firm has a market cap of $30.02 billion, a P/E ratio of 11.84, a PEG ratio of 1.94 and a beta of 0.02.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.04. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.17 EPS. Analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

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 savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.