US Bancorp DE trimmed its holdings in shares of General Mills, Inc. (NYSE:GIS) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,799,250 shares of the company’s stock after selling 71,539 shares during the quarter. US Bancorp DE owned 0.47% of General Mills worth $147,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in GIS. Iridian Asset Management LLC CT purchased a new position in General Mills during the 2nd quarter worth $106,946,000. FMR LLC grew its stake in General Mills by 92.9% during the 1st quarter. FMR LLC now owns 3,431,373 shares of the company’s stock worth $177,574,000 after buying an additional 1,652,275 shares during the last quarter. Renaissance Technologies LLC grew its stake in General Mills by 44.6% during the 2nd quarter. Renaissance Technologies LLC now owns 5,313,884 shares of the company’s stock worth $279,085,000 after buying an additional 1,639,900 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in General Mills by 469.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 953,445 shares of the company’s stock worth $43,653,000 after buying an additional 785,927 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in General Mills by 42.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,965,879 shares of the company’s stock worth $101,734,000 after buying an additional 584,631 shares during the last quarter. Hedge funds and other institutional investors own 68.97% of the company’s stock.
Shares of GIS traded down $0.10 during mid-day trading on Friday, reaching $53.99. The company had a trading volume of 180,481 shares, compared to its average volume of 3,450,669. General Mills, Inc. has a 52-week low of $36.42 and a 52-week high of $56.40. The company has a quick ratio of 0.37, a current ratio of 0.59 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $32.64 billion, a P/E ratio of 16.77, a PEG ratio of 2.31 and a beta of 0.74. The stock has a 50 day moving average of $53.98 and a two-hundred day moving average of $51.85.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 26th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. General Mills had a return on equity of 27.67% and a net margin of 10.39%. The firm had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the business earned $0.79 earnings per share. The company’s revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts expect that General Mills, Inc. will post 3.37 earnings per share for the current year.
Several research analysts recently weighed in on the company. Bank of America restated a “neutral” rating and set a $49.00 target price on shares of General Mills in a research note on Friday, May 17th. Goldman Sachs Group downgraded General Mills from a “neutral” rating to a “sell” rating and set a $41.00 target price on the stock. in a research note on Tuesday, May 28th. Evercore ISI started coverage on General Mills in a research note on Tuesday, June 11th. They set an “in-line” rating and a $56.00 target price on the stock. UBS Group boosted their price target on General Mills from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, June 27th. Finally, Guggenheim boosted their price target on General Mills from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $53.21.
General Mills Company Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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