Intact Investment Management Inc. cut its stake in General Mills, Inc. (NYSE:GIS) by 16.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,400 shares of the company’s stock after selling 15,000 shares during the period. Intact Investment Management Inc.’s holdings in General Mills were worth $3,954,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GIS. Crossmark Global Holdings Inc. purchased a new stake in shares of General Mills during the third quarter valued at approximately $9,875,000. Benedict Financial Advisors Inc. increased its stake in shares of General Mills by 2.1% in the third quarter. Benedict Financial Advisors Inc. now owns 65,628 shares of the company’s stock worth $3,397,000 after buying an additional 1,379 shares during the last quarter. Murphy Pohlad Asset Management LLC increased its stake in shares of General Mills by 6.2% in the third quarter. Murphy Pohlad Asset Management LLC now owns 36,332 shares of the company’s stock worth $1,880,000 after buying an additional 2,110 shares during the last quarter. IFC Holdings Incorporated FL increased its stake in shares of General Mills by 113.0% in the third quarter. IFC Holdings Incorporated FL now owns 14,075 shares of the company’s stock worth $728,000 after buying an additional 7,467 shares during the last quarter. Finally, Excalibur Management Corp increased its stake in shares of General Mills by 75.2% in the third quarter. Excalibur Management Corp now owns 14,573 shares of the company’s stock worth $754,000 after buying an additional 6,254 shares during the last quarter. 72.78% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have commented on GIS shares. Piper Jaffray Companies set a $56.00 price objective on shares of General Mills and gave the stock a “sell” rating in a report on Monday, August 7th. BMO Capital Markets reaffirmed a “hold” rating on shares of General Mills in a report on Tuesday, August 8th. BidaskClub raised shares of General Mills from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $62.00 price target on shares of General Mills in a research report on Wednesday, September 6th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $56.60.
General Mills, Inc. (NYSE GIS) traded up $1.40 during trading on Tuesday, reaching $57.86. The company had a trading volume of 6,296,100 shares, compared to its average volume of 3,724,897. The company has a market capitalization of $32,088.39, a PE ratio of 18.76, a price-to-earnings-growth ratio of 2.10 and a beta of 0.66. General Mills, Inc. has a fifty-two week low of $49.65 and a fifty-two week high of $64.06. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.47 and a current ratio of 0.74.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.05). The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.79 billion. General Mills had a net margin of 10.68% and a return on equity of 39.82%. General Mills’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 EPS. research analysts predict that General Mills, Inc. will post 3.1 earnings per share for the current fiscal year.
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General Mills 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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