Conning Inc. reduced its stake in shares of General Mills Inc. (NYSE:GIS) by 3.6% during the second quarter, Holdings Channel reports. The fund owned 366,410 shares of the company’s stock after selling 13,791 shares during the period. Conning Inc.’s holdings in General Mills were worth $26,132,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. WESPAC Advisors LLC bought a new stake in General Mills during the second quarter valued at $211,000. Tufton Capital Management boosted its stake in General Mills by 4.5% in the second quarter. Tufton Capital Management now owns 4,674 shares of the company’s stock valued at $333,000 after buying an additional 200 shares during the last quarter. Canandaigua National Bank & Trust Co. boosted its stake in General Mills by 18.7% in the second quarter. Canandaigua National Bank & Trust Co. now owns 28,149 shares of the company’s stock valued at $2,008,000 after buying an additional 4,439 shares during the last quarter. Callahan Advisors LLC boosted its stake in General Mills by 2.2% in the second quarter. Callahan Advisors LLC now owns 65,793 shares of the company’s stock valued at $4,692,000 after buying an additional 1,415 shares during the last quarter. Finally, Albion Financial Group UT boosted its stake in General Mills by 21.3% in the second quarter. Albion Financial Group UT now owns 27,754 shares of the company’s stock valued at $1,979,000 after buying an additional 4,865 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.
Shares of General Mills Inc. (NYSE:GIS) traded down 1.16% during mid-day trading on Monday, hitting $63.90. 3,176,471 shares of the company were exchanged. The firm has a market capitalization of $37.79 billion, a P/E ratio of 23.24 and a beta of 0.38. The company’s 50-day moving average price is $68.79 and its 200-day moving average price is $66.20. General Mills Inc. has a 12-month low of $53.53 and a 12-month high of $72.95.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 21st. The company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03. General Mills had a net margin of 10.25% and a return on equity of 33.96%. The firm had revenue of $3.91 billion for the quarter. During the same period in the prior year, the business earned $0.79 EPS. General Mills’s quarterly revenue was down 7.3% compared to the same quarter last year. Equities research analysts predict that General Mills Inc. will post $3.10 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on the stock. RBC Capital Markets reiterated an “outperform” rating and issued a $73.00 target price on shares of General Mills in a research note on Friday. Barclays PLC reiterated an “equal weight” rating and issued a $66.00 target price on shares of General Mills in a research note on Friday. Credit Agricole SA set a $65.00 target price on shares of General Mills and gave the company a “sell” rating in a research note on Thursday. Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Friday. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $74.00 target price on shares of General Mills in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $68.12.
In other General Mills news, Director Paul Danos sold 20,000 shares of General Mills stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $71.53, for a total transaction of $1,430,600.00. Following the transaction, the director now owns 43,799 shares of the company’s stock, valued at approximately $3,132,942.47. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael D. Rose sold 10,000 shares of General Mills stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $72.32, for a total transaction of $723,200.00. Following the transaction, the director now directly owns 71,240 shares in the company, valued at approximately $5,152,076.80. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
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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