Adage Capital Partners GP L.L.C. Sells 63,200 Shares of General Mills, Inc. (NYSE:GIS)

Adage Capital Partners GP L.L.C. cut its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 401,196 shares of the company's stock after selling 63,200 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.07% of General Mills worth $25,584,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in General Mills by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company's stock worth $4,376,573,000 after acquiring an additional 1,868,508 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of General Mills by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 14,488,451 shares of the company's stock worth $923,907,000 after purchasing an additional 136,895 shares during the period. Nordea Investment Management AB lifted its holdings in General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company's stock worth $497,054,000 after purchasing an additional 3,058,414 shares during the last quarter. Norges Bank bought a new stake in General Mills in the 4th quarter valued at $496,484,000. Finally, Dimensional Fund Advisors LP grew its holdings in General Mills by 8.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,351,735 shares of the company's stock valued at $405,035,000 after buying an additional 509,268 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Price Performance

Shares of GIS stock traded up $0.45 on Tuesday, reaching $56.20. The company had a trading volume of 3,275,376 shares, compared to its average volume of 4,397,941. The business's 50-day moving average is $59.28 and its 200 day moving average is $62.16. General Mills, Inc. has a one year low of $55.08 and a one year high of $75.90. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $30.98 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.94 and a beta of 0.15.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.96 by $0.04. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm's revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 EPS. Equities research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

Insider Activity at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the transaction, the chief executive officer now directly owns 353,346 shares in the company, valued at approximately $22,967,490. This trade represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GIS. JPMorgan Chase & Co. dropped their target price on General Mills from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. Stifel Nicolaus dropped their price objective on shares of General Mills from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Citigroup decreased their target price on shares of General Mills from $60.00 to $58.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $70.00 price target on shares of General Mills in a research report on Monday, March 17th. Finally, UBS Group began coverage on General Mills in a research report on Wednesday, April 23rd. They set a "sell" rating and a $54.00 price target on the stock. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, General Mills currently has an average rating of "Hold" and an average price target of $65.00.

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 savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.