Pinnacle Associates Ltd. Sells 62,634 Shares of General Mills, Inc. $GIS

Pinnacle Associates Ltd. reduced its position in shares of General Mills, Inc. (NYSE:GIS) by 87.0% during the 4th quarter, HoldingsChannel reports. The firm owned 9,370 shares of the company’s stock after selling 62,634 shares during the period. Pinnacle Associates Ltd.’s holdings in General Mills were worth $436,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GIS. Vermillion & White Wealth Management Group LLC bought a new position in shares of General Mills during the 3rd quarter worth $25,000. Close Asset Management Ltd purchased a new position in shares of General Mills during the third quarter valued at $28,000. Activest Wealth Management raised its holdings in shares of General Mills by 211.7% in the fourth quarter. Activest Wealth Management now owns 695 shares of the company’s stock valued at $32,000 after acquiring an additional 472 shares in the last quarter. Binnacle Investments Inc raised its holdings in shares of General Mills by 312.5% in the third quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock valued at $33,000 after acquiring an additional 500 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. lifted its stake in General Mills by 190.2% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 737 shares of the company’s stock worth $34,000 after acquiring an additional 483 shares during the period. 75.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In other General Mills news, insider Jacqueline Williams-Roll sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the transaction, the insider owned 86,002 shares of the company’s stock, valued at approximately $2,947,288.54. This trade represents a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ricardo Fernandez sold 7,995 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the sale, the insider directly owned 62,283 shares in the company, valued at $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of General Mills from $47.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, March 19th. Sanford C. Bernstein lowered their price target on shares of General Mills from $53.00 to $48.00 and set a “market perform” rating for the company in a research report on Wednesday, February 18th. 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 research note on Wednesday, February 18th. UBS Group cut their price objective on shares of General Mills from $40.00 to $35.00 and set a “sell” rating on the stock in a report on Thursday, March 19th. Finally, Zacks Research downgraded shares of General Mills from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $42.44.

General Mills Trading Up 1.4%

Shares of NYSE:GIS opened at $33.45 on Tuesday. The business’s 50-day moving average is $36.46 and its 200 day moving average is $42.76. General Mills, Inc. has a 1 year low of $32.79 and a 1 year high of $55.35. The firm has a market capitalization of $17.85 billion, a P/E ratio of 8.18 and a beta of -0.02. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.09). General Mills had a return on equity of 19.19% and a net margin of 12.05%.The business had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same period in the prior year, the business posted $1.12 EPS. General Mills’s revenue was down 8.4% compared to the same quarter last year. On average, research analysts predict that General Mills, Inc. will post 3.43 earnings per share for the current fiscal year.

About General Mills

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.