Peapack Gladstone Financial Corp Sells 2,661 Shares of General Mills, Inc. (NYSE:GIS)

Peapack Gladstone Financial Corp lowered its holdings in shares of General Mills, Inc. (NYSE:GIS) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,151 shares of the company’s stock after selling 2,661 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in General Mills were worth $4,440,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Morgan Stanley grew its position in shares of General Mills by 0.3% during the third quarter. Morgan Stanley now owns 8,242,274 shares of the company’s stock worth $527,423,000 after purchasing an additional 23,400 shares in the last quarter. Northern Trust Corp grew its holdings in General Mills by 5.0% during the 3rd quarter. Northern Trust Corp now owns 7,995,118 shares of the company’s stock valued at $511,608,000 after buying an additional 379,702 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in General Mills by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,527,989 shares of the company’s stock valued at $468,346,000 after buying an additional 44,933 shares in the last quarter. Norges Bank purchased a new position in General Mills during the 4th quarter valued at approximately $377,205,000. Finally, Nordea Investment Management AB grew its holdings in General Mills by 48.7% during the 3rd quarter. Nordea Investment Management AB now owns 5,051,607 shares of the company’s stock valued at $325,728,000 after buying an additional 1,654,111 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Sanford C. Bernstein upgraded General Mills from an “underperform” rating to a “market perform” rating and raised their price target for the company from $62.00 to $70.00 in a report on Wednesday, May 15th. Morgan Stanley lifted their target price on General Mills from $58.00 to $61.00 and gave the stock an “underweight” rating in a report on Thursday, March 21st. HSBC lifted their target price on General Mills from $74.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Bank of America lifted their target price on General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $72.00 target price on shares of General Mills in a report on Thursday, March 21st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $71.94.

Insider Buying and Selling at General Mills

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $70.57, for a total transaction of $50,104.70. Following the sale, the insider now owns 17,397 shares in the company, valued at approximately $1,227,706.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Werner Lanette Shaffer sold 710 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the completion of the transaction, the insider now owns 17,397 shares of the company’s stock, valued at approximately $1,227,706.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathon Nudi sold 10,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $69.21, for a total value of $692,100.00. Following the completion of the transaction, the insider now directly owns 93,381 shares of the company’s stock, valued at approximately $6,462,899.01. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

General Mills Stock Up 0.6 %

GIS stock traded up $0.39 on Tuesday, hitting $68.14. 2,433,747 shares of the company’s stock were exchanged, compared to its average volume of 4,070,563. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $85.84. The firm has a 50 day moving average price of $69.56 and a two-hundred day moving average price of $66.57. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.66. The stock has a market cap of $38.70 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 3.06 and a beta of 0.12.

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

General Mills Company 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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.