DekaBank Deutsche Girozentrale boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 47.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 96,264 shares of the company’s stock after buying an additional 30,787 shares during the period. DekaBank Deutsche Girozentrale’s holdings in General Mills were worth $5,765,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Lenox Wealth Advisors Inc. increased its position in General Mills by 0.8% in the first quarter. Lenox Wealth Advisors Inc. now owns 1,818 shares of the company’s stock valued at $107,000 after buying an additional 14 shares during the last quarter. Cribstone Capital Management LLC increased its position in General Mills by 275.6% in the first quarter. Cribstone Capital Management LLC now owns 2,017 shares of the company’s stock valued at $116,000 after buying an additional 1,480 shares during the last quarter. Commonwealth Financial Services LLC increased its position in General Mills by 1,239.8% in the first quarter. Commonwealth Financial Services LLC now owns 2,224 shares of the company’s stock valued at $130,000 after buying an additional 2,058 shares during the last quarter. Perennial Advisors LLC bought a new position in General Mills during the fourth quarter valued at $165,000. Finally, Advisory Services Network LLC bought a new position in General Mills during the first quarter valued at $179,000. 70.52% of the stock is owned by hedge funds and other institutional investors.
General Mills, Inc. (GIS) opened at 57.10 on Friday. The firm has a market capitalization of $32.90 billion, a P/E ratio of 21.16 and a beta of 0.60. The stock’s 50 day moving average price is $56.96 and its 200 day moving average price is $59.84. General Mills, Inc. has a 12 month low of $55.57 and a 12 month high of $72.95.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Tuesday, March 21st. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.01. The firm had revenue of $3.79 billion during 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 business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 EPS. On average, analysts forecast that General Mills, Inc. will post $3.05 earnings per share for the current year.
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A number of equities research analysts have recently commented on the company. Zacks Investment Research downgraded General Mills from a “hold” rating to a “sell” rating in a research report on Thursday, February 23rd. Royal Bank Of Canada reaffirmed a “hold” rating on shares of General Mills in a research report on Sunday, March 12th. Sanford C. Bernstein cut 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. BMO Capital Markets reiterated a “hold” rating and issued a $67.00 target price on shares of General Mills in a report on Wednesday, March 22nd. Finally, Stifel Nicolaus cut General Mills from a “buy” rating to a “hold” rating and reduced their target price for the company from $67.00 to $60.00 in a report on Wednesday, March 22nd. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have given a buy rating to the company. General Mills presently has a consensus rating of “Hold” and a consensus price target of $63.67.
In other General Mills news, insider Jonathon Nudi acquired 1,800 shares of the business’s stock in a transaction on Wednesday, April 12th. The stock was purchased at an average price of $57.45 per share, with a total value of $103,410.00. Following the acquisition, the insider now directly owns 34,077 shares of the company’s stock, valued at approximately $1,957,723.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 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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