General Mills, Inc. (GIS) Q4 Earnings Beat But Revenues Miss; Should You Buy?

How have hedgies been trading General Mills, Inc. (NYSE:GIS)?

Heading into the second quarter of the year, a total of 24 of the hedge funds tracked by Insider Monkey held long positions in this stock, unchanged from one quarter earlier.

According to hedge fund experts at Insider Monkey, Ken Griffin‘s Citadel Investment Group had the number one position in General Mills, Inc. (NYSE:GIS), worth close to $103.1 million, amounting to 0.1% of its total 13F portfolio. Coming in second was AQR Capital Management, led by Cliff Asness, holding a $51.7 million position. The fund has 0.1% of its 13F portfolio invested in the stock. Some other members of the smart money that were bullish consist of David Harding’s Winton Capital Management, Phill Gross and Robert Atchinson’s Adage Capital Management, and Scott Wallace’s Wallace Capital Management.

On the other hand, General Mills, Inc. (NYSE:GIS) also had its share of hedge funds which dumped their stake in the firm. At the top of the heap, Jim Simons’ Renaissance Technologies cut the largest position of all the hedgies monitored by Insider Monkey, a position worth about $21.5 million and comprised of 402,700 shares. Clint Carlson of Carlson Capital was right behind this move, as the fund cut 109,200 shares or about $5.8 million worth. These moves are important to note, as aggregate hedge fund interest stayed the same, a bearish signal in our experience.

Based on the unchanged interest displayed by smart money at the end of the first quarter and the firm’s mixed results for the latest quarter and fiscal year, as well as the company’s main products continuing to face pressure from changing consumer tastes, we don’t recommend a long position in General Mills, Inc. (NYSE:GIS) at this time.

Disclosure: None