General Mills, Inc. $GIS Shares Acquired by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd increased its stake in shares of General Mills, Inc. (NYSE:GIS) by 46.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 316,831 shares of the company’s stock after buying an additional 100,582 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in General Mills were worth $14,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. LBP AM SA purchased a new stake in shares of General Mills during the fourth quarter valued at $2,639,000. Oak Thistle LLC purchased a new stake in shares of General Mills during the fourth quarter valued at $1,320,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of General Mills by 1,824.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 895,225 shares of the company’s stock valued at $41,628,000 after buying an additional 848,712 shares during the last quarter. Korea Investment CORP grew its holdings in shares of General Mills by 161.9% during the third quarter. Korea Investment CORP now owns 333,199 shares of the company’s stock valued at $16,800,000 after buying an additional 205,981 shares during the last quarter. Finally, AE Wealth Management LLC grew its holdings in shares of General Mills by 7.7% during the third quarter. AE Wealth Management LLC now owns 346,005 shares of the company’s stock valued at $17,445,000 after buying an additional 24,688 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Price Performance

NYSE:GIS opened at $33.84 on Tuesday. General Mills, Inc. has a one year low of $33.37 and a one year high of $55.35. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56. The firm has a market cap of $18.06 billion, a price-to-earnings ratio of 8.27 and a beta of -0.02. The firm’s fifty day moving average is $37.56 and its two-hundred day moving average is $43.28.

General Mills (NYSE:GIS) last posted its quarterly 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). General Mills had a net margin of 12.05% and a return on equity of 19.19%. The business had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the previous year, the company posted $1.12 earnings per share. General Mills’s revenue for the quarter was down 8.4% compared to the same quarter last year. Research analysts expect that General Mills, Inc. will post 3.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GIS. Morgan Stanley dropped their price objective on shares of General Mills from $47.00 to $44.00 and set an “underweight” rating on the stock in a report on Wednesday, February 18th. BTIG Research assumed coverage on shares of General Mills in a report on Monday, April 13th. They issued a “neutral” rating on the stock. Weiss Ratings lowered shares of General Mills from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, January 13th. Barclays set a $36.00 price target on shares of General Mills in a report on Monday. Finally, Evercore set a $45.00 price target on shares of General Mills in a report on Wednesday, February 18th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, General Mills has an average rating of “Reduce” and a consensus target price of $42.83.

General Mills Profile

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.