Sawgrass Asset Management LLC Acquires 1,612 Shares of General Mills, Inc. (NYSE:GIS)

Sawgrass Asset Management LLC boosted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 18.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,512 shares of the company’s stock after buying an additional 1,612 shares during the quarter. Sawgrass Asset Management LLC’s holdings in General Mills were worth $685,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of General Mills from $58.00 to $61.00 and gave the company an “underweight” rating in a report on Thursday, March 21st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $77.00 price objective on shares of General Mills in a research note on Monday, April 22nd. Citigroup began coverage on shares of General Mills in a research report on Thursday, February 1st. They issued a “neutral” rating and a $67.00 price target on the stock. TD Cowen upped their target price on shares of General Mills from $68.00 to $70.00 and gave the company a “market perform” rating in a research report on Thursday, March 21st. Finally, HSBC boosted their target price on General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $72.18.

General Mills Stock Up 1.1 %

NYSE GIS traded up $0.75 on Tuesday, reaching $69.89. 2,453,764 shares of the stock traded hands, compared to its average volume of 4,184,218. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $90.89. The company has a market cap of $39.69 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 2.41 and a beta of 0.15. The company has a fifty day moving average price of $68.36 and a 200-day moving average price of $65.97. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.66.

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

Insider Activity at General Mills

In other General Mills news, insider Jonathon Nudi sold 10,000 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $69.21, for a total transaction of $692,100.00. Following the completion of the sale, the insider now owns 93,381 shares in the company, valued at $6,462,899.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.24% of the stock is currently owned by corporate insiders.

About General Mills

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.