Taylor Cottrill Erickson & Associates Inc. purchased a new position in shares of General Mills Inc. (NYSE:GIS) during the second quarter, Holdings Channel reports. The fund purchased 10,188 shares of the company’s stock, valued at approximately $727,000.
Other hedge funds have also made changes to their positions in the company. Iberiabank Corp boosted its stake in General Mills by 1.3% in the first quarter. Iberiabank Corp now owns 6,629 shares of the company’s stock valued at $420,000 after buying an additional 88 shares in the last quarter. Culbertson A N & Co. Inc. bought a new position in shares of General Mills during the first quarter worth approximately $2,829,000. TNB Financial raised its position in shares of General Mills by 6.9% in the first quarter. TNB Financial now owns 12,363 shares of the company’s stock worth $783,000 after buying an additional 793 shares during the last quarter. Berkshire Asset Management LLC PA raised its position in shares of General Mills by 2.7% in the first quarter. Berkshire Asset Management LLC PA now owns 307,798 shares of the company’s stock worth $19,499,000 after buying an additional 7,951 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. raised its position in shares of General Mills by 18.6% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 399,646 shares of the company’s stock worth $22,268,000 after buying an additional 62,692 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.
General Mills Inc. (NYSE:GIS) traded down 0.66% during midday trading on Wednesday, hitting $64.27. 2,567,463 shares of the stock traded hands. The company has a market cap of $38.37 billion, a price-to-earnings ratio of 23.20 and a beta of 0.38. General Mills Inc. has a 52-week low of $53.53 and a 52-week high of $72.95. The firm’s 50-day moving average is $69.44 and its 200-day moving average is $66.07.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 21st. The company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.92 billion. General Mills had a net margin of 10.25% and a return on equity of 33.96%. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 earnings per share. Analysts predict that General Mills Inc. will post $3.10 EPS for the current year.
A number of equities analysts have recently commented on GIS shares. Zacks Investment Research lowered shares of General Mills from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Consumer Edge lowered shares of General Mills from a “neutral” rating to an “underperform” rating in a report on Tuesday. Royal Bank Of Canada reissued an “outperform” rating and issued a $70.00 price target (up previously from $64.00) on shares of General Mills in a report on Friday, June 17th. Deutsche Bank AG reissued a “hold” rating and issued a $67.00 price target on shares of General Mills in a report on Wednesday, September 14th. Finally, Goldman Sachs Group Inc. reissued a “sell” rating and issued a $61.00 price target (up previously from $60.00) on shares of General Mills in a report on Friday, July 15th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $67.40.
In other news, insider John R. Church sold 99,373 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $71.17, for a total value of $7,072,376.41. Following the transaction, the insider now directly owns 108,311 shares in the company, valued at $7,708,493.87. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael D. Rose sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $71.11, for a total transaction of $711,100.00. Following the completion of the transaction, the director now owns 79,954 shares in the company, valued at $5,685,528.94. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
General Mills Company Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S.
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