FUKOKU MUTUAL LIFE INSURANCE Co decreased its position in General Mills Inc. (NYSE:GIS) by 21.2% during the second quarter, Holdings Channel reports. The firm owned 4,100 shares of the company’s stock after selling 1,100 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in General Mills were worth $292,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. GaveKal Capital LLC raised its stake in General Mills by 5.0% in the second quarter. GaveKal Capital LLC now owns 273,177 shares of the company’s stock worth $19,483,000 after buying an additional 12,990 shares during the period. Panagora Asset Management Inc. raised its stake in General Mills by 647.8% in the first quarter. Panagora Asset Management Inc. now owns 1,363,848 shares of the company’s stock worth $86,400,000 after buying an additional 1,181,476 shares during the period. IMS Capital Management purchased a new stake in General Mills during the second quarter worth $212,000. State of Alaska Department of Revenue raised its stake in General Mills by 5.3% in the second quarter. State of Alaska Department of Revenue now owns 180,110 shares of the company’s stock worth $12,844,000 after buying an additional 9,006 shares during the period. Finally, MAI Capital Management raised its position in shares of General Mills by 2.3% in the second quarter. MAI Capital Management now owns 4,600 shares of the company’s stock worth $328,000 after buying an additional 103 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Mills Inc. (NYSE:GIS) opened at 64.65 on Friday. The stock has a 50 day moving average of $68.98 and a 200 day moving average of $66.09. General Mills Inc. has a 52-week low of $53.53 and a 52-week high of $72.95. The stock has a market capitalization of $38.44 billion, a PE ratio of 23.51 and a beta of 0.38.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 21st. The company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. General Mills had a net margin of 10.33% and a return on equity of 33.82%. The firm earned $3.91 billion during the quarter. During the same quarter in the prior year, the company posted $0.79 EPS. General Mills’s revenue was down 7.3% compared to the same quarter last year. Analysts forecast that General Mills Inc. will post $3.10 earnings per share for the current year.
A number of brokerages have recently commented on GIS. 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. Citigroup Inc. reissued a “buy” rating and issued a $83.00 price target (up previously from $76.00) on shares of General Mills in a report on Friday, July 15th. Morgan Stanley reissued a “hold” rating on shares of General Mills in a report on Sunday, July 17th. Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a report on Tuesday, July 5th. Finally, Credit Suisse Group AG reissued a “hold” rating on shares of General Mills in a report on Thursday, July 14th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $68.12.
In related news, EVP Peter C. Erickson sold 83,850 shares of the company’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $71.90, for a total transaction of $6,028,815.00. Following the sale, the executive vice president now owns 213,669 shares of the company’s stock, valued at $15,362,801.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael D. Rose sold 10,000 shares of the company’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $71.11, for a total transaction of $711,100.00. Following the sale, the director now directly owns 79,954 shares in the company, valued at approximately $5,685,528.94. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
About General Mills
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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