Busey Trust CO Decreases Position in General Mills, Inc. (GIS)

Busey Trust CO reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,096 shares of the company’s stock after selling 80 shares during the period. Busey Trust CO’s holdings in General Mills were worth $477,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lenox Wealth Advisors Inc. raised 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 period. Cribstone Capital Management LLC raised 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 period. Commonwealth Financial Services LLC raised 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 period. Perennial Advisors LLC bought a new position in General Mills during the fourth quarter valued at approximately $165,000. Finally, Advisory Services Network LLC bought a new position in General Mills during the first quarter valued at approximately $179,000. 70.52% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for General Mills (NYSE:GIS)

General Mills, Inc. (NYSE:GIS) opened at 57.10 on Friday. The company has a 50-day moving average price of $56.96 and a 200-day moving average price of $59.84. The firm has a market capitalization of $32.90 billion, a P/E ratio of 21.16 and a beta of 0.60. General Mills, Inc. has a 1-year low of $55.57 and a 1-year 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, topping the consensus estimate of $0.71 by $0.01. General Mills had a net margin of 10.34% and a return on equity of 37.15%. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the firm posted $0.65 EPS. The business’s revenue was down 5.2% compared to the same quarter last year. On average, equities research analysts predict that General Mills, Inc. will post $3.05 earnings per share for the current fiscal year.

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Several research firms have commented on GIS. Zacks Investment Research lowered General Mills from a “hold” rating to a “sell” rating in a research report on Wednesday, May 24th. Argus reissued a “hold” rating on shares of General Mills in a research report on Thursday, March 23rd. BMO Capital Markets reissued a “hold” rating and issued a $67.00 price objective on shares of General Mills in a research report on Wednesday, March 22nd. Piper Jaffray Companies began coverage on General Mills in a research report on Wednesday, May 24th. They issued an “underweight” rating and a $57.00 price objective on the stock. Finally, Royal Bank Of Canada cut their price objective on General Mills from $66.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 22nd. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have issued a buy rating to the stock. General Mills currently has an average rating of “Hold” and an average price target of $63.67.

In related news, insider Jonathon Nudi acquired 1,800 shares of the company’s stock in a transaction dated Wednesday, April 12th. The shares were bought at an average price of $57.45 per share, for a total transaction of $103,410.00. Following the acquisition, the insider now owns 34,077 shares in the company, valued at approximately $1,957,723.65. The transaction was disclosed in a legal filing 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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