Karp Capital Management Corp purchased a new position in General Mills, Inc. (NYSE:GIS) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 435,814 shares of the company’s stock, valued at approximately $25,717,000.
Other large investors also recently bought and sold shares of the company. Lenox Wealth Advisors Inc. boosted its stake in shares of General Mills by 0.8% in the first quarter. Lenox Wealth Advisors Inc. now owns 1,818 shares of the company’s stock worth $107,000 after buying an additional 14 shares during the last quarter. Cribstone Capital Management LLC boosted its stake in shares of General Mills by 275.6% in the first quarter. Cribstone Capital Management LLC now owns 2,017 shares of the company’s stock worth $116,000 after buying an additional 1,480 shares during the last quarter. Commonwealth Financial Services LLC boosted its stake in shares of General Mills by 1,239.8% in the first quarter. Commonwealth Financial Services LLC now owns 2,224 shares of the company’s stock worth $130,000 after buying an additional 2,058 shares during the last quarter. Perennial Advisors LLC acquired a new stake in shares of General Mills during the fourth quarter worth about $165,000. Finally, Advisory Services Network LLC acquired a new stake in shares of General Mills during the first quarter worth about $179,000. 70.51% of the stock is currently owned by institutional investors.
General Mills, Inc. (NYSE:GIS) opened at 55.94 on Friday. The stock’s 50 day moving average is $56.95 and its 200-day moving average is $59.75. The stock has a market capitalization of $32.23 billion, a price-to-earnings ratio of 20.73 and a beta of 0.60. General Mills, Inc. has a 52-week low of $55.57 and a 52-week high of $72.95.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Tuesday, March 21st. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.82 billion. General Mills had a net margin of 10.34% and a return on equity of 37.15%. The company’s revenue was down 5.2% on a year-over-year basis. During the same period last year, the firm earned $0.65 EPS. Equities research analysts anticipate that General Mills, Inc. will post $3.05 EPS for the current fiscal year.
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GIS has been the topic of a number of analyst reports. Vetr raised shares of General Mills from a “hold” rating to a “buy” rating and set a $58.98 target price on the stock in a report on Monday, May 1st. Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Monday, March 27th. Royal Bank Of Canada reissued a “hold” rating on shares of General Mills in a report on Sunday, March 12th. Stifel Nicolaus cut shares of General Mills from a “buy” rating to a “hold” rating and lowered their target price for the company from $67.00 to $60.00 in a report on Wednesday, March 22nd. Finally, Sanford C. Bernstein cut shares of General Mills from a “market perform” rating to an “underperform” rating and set a $52.00 target price on the stock. in a report on Tuesday, March 21st. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $63.61.
In other news, insider Jonathon Nudi acquired 1,800 shares of the firm’s stock in a transaction dated Wednesday, April 12th. The shares were purchased at an average cost of $57.45 per share, for a total transaction of $103,410.00. Following the transaction, the insider now directly owns 34,077 shares of the company’s stock, valued at $1,957,723.65. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.30% of the stock is owned by company insiders.
General Mills Company Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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