First Horizon Advisors Inc. Increases Holdings in General Mills, Inc. (NYSE:GIS)

First Horizon Advisors Inc. raised its stake in General Mills, Inc. (NYSE:GIS) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,060 shares of the company’s stock after acquiring an additional 845 shares during the period. First Horizon Advisors Inc.’s holdings in General Mills were worth $590,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. L.M. Kohn & Company increased its stake in General Mills by 2.6% during the 3rd quarter. L.M. Kohn & Company now owns 6,034 shares of the company’s stock valued at $386,000 after purchasing an additional 155 shares in the last quarter. Traverso Chambers Private Wealth Management LLC raised its holdings in General Mills by 1.0% in the 4th quarter. Traverso Chambers Private Wealth Management LLC now owns 16,156 shares of the company’s stock worth $1,052,000 after acquiring an additional 156 shares during the last quarter. TrueWealth Advisors LLC raised its holdings in General Mills by 4.3% in the 3rd quarter. TrueWealth Advisors LLC now owns 3,837 shares of the company’s stock worth $246,000 after acquiring an additional 158 shares during the last quarter. Csenge Advisory Group lifted its position in General Mills by 1.0% in the 3rd quarter. Csenge Advisory Group now owns 16,079 shares of the company’s stock valued at $1,029,000 after acquiring an additional 164 shares in the last quarter. Finally, Lincoln National Corp boosted its stake in General Mills by 0.5% during the 3rd quarter. Lincoln National Corp now owns 35,838 shares of the company’s stock valued at $2,293,000 after purchasing an additional 164 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Citigroup started coverage on General Mills in a report on Thursday, February 1st. They set a “neutral” rating and a $67.00 price target on the stock. Wells Fargo & Company upped their target price on shares of General Mills from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $77.00 price target on shares of General Mills in a research note on Monday, April 22nd. HSBC increased their price objective on shares of General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, March 21st. Finally, Bank of America lifted their target price on shares of General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $72.18.

Insider Transactions at General Mills

In related 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 transaction of $692,100.00. Following the transaction, the insider now owns 93,381 shares in the company, valued at approximately $6,462,899.01. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.24% of the company’s stock.

General Mills Stock Performance

Shares of GIS opened at $69.91 on Friday. The business has a 50-day simple moving average of $68.16 and a two-hundred day simple moving average of $65.84. 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 stock has a market cap of $39.70 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 2.41 and a beta of 0.15.

General Mills (NYSE:GIS) last released 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 during the quarter, compared to analyst estimates of $4.97 billion. During the same period in the prior year, the firm posted $0.97 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. On average, analysts expect that General Mills, Inc. will post 4.51 EPS for the current year.

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.