BB&T Corp lessened its stake in General Mills, Inc. (NYSE:GIS) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 162,540 shares of the company’s stock after selling 7,424 shares during the quarter. BB&T Corp’s holdings in General Mills were worth $8,413,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spinnaker Trust lifted its holdings in General Mills by 0.9% during the 1st quarter. Spinnaker Trust now owns 14,058 shares of the company’s stock valued at $830,000 after purchasing an additional 120 shares during the last quarter. Schroder Investment Management Group lifted its holdings in General Mills by 17.0% during the 1st quarter. Schroder Investment Management Group now owns 4,541,794 shares of the company’s stock valued at $268,283,000 after purchasing an additional 660,726 shares during the last quarter. Dai Ichi Life Insurance Company Ltd lifted its holdings in General Mills by 13.6% during the 1st quarter. Dai Ichi Life Insurance Company Ltd now owns 207,098 shares of the company’s stock valued at $12,221,000 after purchasing an additional 24,717 shares during the last quarter. Blair William & Co. IL lifted its holdings in General Mills by 40.4% during the 1st quarter. Blair William & Co. IL now owns 124,927 shares of the company’s stock valued at $7,504,000 after purchasing an additional 35,928 shares during the last quarter. Finally, American International Group Inc. increased its position in General Mills by 1.9% during the 1st quarter. American International Group Inc. now owns 483,094 shares of the company’s stock worth $28,507,000 after buying an additional 9,015 shares during the period. 72.78% of the stock is owned by institutional investors.
Shares of General Mills, Inc. (GIS) traded down $0.72 during midday trading on Thursday, hitting $56.69. The company had a trading volume of 3,129,914 shares, compared to its average volume of 3,721,247. The company has a quick ratio of 0.47, a current ratio of 0.74 and a debt-to-equity ratio of 1.83. General Mills, Inc. has a 52 week low of $49.65 and a 52 week high of $64.06. The company has a market capitalization of $32,537.38, a PE ratio of 19.02, a P/E/G ratio of 2.13 and a beta of 0.66.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.05). General Mills had a return on equity of 39.82% and a net margin of 10.68%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the business posted $0.78 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. research analysts anticipate that General Mills, Inc. will post 3.1 earnings per share for the current year.
Several research firms have weighed in on GIS. Susquehanna Bancshares set a $56.00 price objective on General Mills and gave the stock a “hold” rating in a research report on Tuesday, October 17th. Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. BMO Capital Markets reiterated a “market perform” rating and set a $57.00 price objective (down previously from $60.00) on shares of General Mills in a research report on Thursday, September 21st. Piper Jaffray Companies reiterated a “sell” rating and set a $53.00 price objective on shares of General Mills in a research report on Thursday, September 21st. Finally, Wells Fargo & Company lowered their price objective on General Mills from $56.00 to $53.00 and set a “market perform” rating on the stock in a research report on Friday, September 22nd. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $56.60.
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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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