MUFG Americas Holdings Corp cut its stake in General Mills, Inc. (NYSE:GIS) by 2.8% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 79,575 shares of the company’s stock after selling 2,330 shares during the period. MUFG Americas Holdings Corp’s holdings in General Mills were worth $4,696,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of GIS. Alpha Windward LLC boosted its stake in shares of General Mills by 0.8% in the first quarter. Alpha Windward LLC now owns 4,088 shares of the company’s stock valued at $241,000 after buying an additional 34 shares during the period. Ffcm LLC acquired a new stake in shares of General Mills during the fourth quarter valued at $1,481,000. Tompkins Financial Corp boosted its stake in shares of General Mills by 2.8% in the first quarter. Tompkins Financial Corp now owns 5,868 shares of the company’s stock valued at $372,000 after buying an additional 162 shares during the period. Smith Moore & CO. boosted its stake in shares of General Mills by 0.4% in the fourth quarter. Smith Moore & CO. now owns 10,791 shares of the company’s stock valued at $667,000 after buying an additional 40 shares during the period. Finally, Integrated Wealth Management boosted its stake in shares of General Mills by 0.6% in the first quarter. Integrated Wealth Management now owns 8,801 shares of the company’s stock valued at $519,000 after buying an additional 54 shares during the period. Institutional investors and hedge funds own 70.52% of the company’s stock.
Shares of General Mills, Inc. (GIS) opened at 57.10 on Friday. The company’s 50 day moving average is $56.96 and its 200 day moving average is $59.84. The company has a market capitalization of $32.90 billion, a price-to-earnings ratio of 21.16 and a beta of 0.60. General Mills, Inc. has a one year low of $55.57 and a one year high of $72.95.
General Mills (NYSE:GIS) last announced its earnings results on Tuesday, March 21st. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The business 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%. General Mills’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period last year, the firm posted $0.65 earnings per share. Equities research analysts predict that General Mills, Inc. will post $3.05 earnings per share for the current year.
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Several analysts have weighed in on GIS shares. Royal Bank Of Canada reiterated a “hold” rating on shares of General Mills in a research note on Sunday, March 12th. Zacks Investment Research cut shares of General Mills from a “hold” rating to a “sell” rating in a research note on Thursday, February 23rd. Sanford C. Bernstein cut shares of General Mills from a “market perform” rating to an “underperform” rating and set a $52.00 price objective for the company. in a research note on Tuesday, March 21st. Argus reiterated a “hold” rating on shares of General Mills in a research note on Thursday, March 23rd. Finally, Vetr cut shares of General Mills from a “buy” rating to a “hold” rating and set a $57.45 price objective for the company. in a research note on Tuesday, May 2nd. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.67.
In related news, insider Jonathon Nudi bought 1,800 shares of the stock in a transaction that occurred on Wednesday, April 12th. The shares were acquired at an average cost of $57.45 per share, with a total value of $103,410.00. Following the completion of the purchase, the insider now directly owns 34,077 shares of the company’s stock, valued at approximately $1,957,723.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 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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