Bank of New York Mellon Corp raised its stake in General Mills, Inc. (NYSE:GIS) by 13.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,490,175 shares of the company’s stock after purchasing an additional 890,262 shares during the quarter. Bank of New York Mellon Corp owned 1.32% of General Mills worth $387,691,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Lenox Wealth Advisors Inc. boosted its stake in shares of General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after buying an additional 15 shares in the last quarter. Cable Hill Partners LLC boosted its stake in shares of General Mills by 274.5% in the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after buying an additional 1,647 shares in the last quarter. Winslow Evans & Crocker Inc. raised its holdings in General Mills by 2.9% during the second quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock worth $136,000 after purchasing an additional 69 shares during the last quarter. IHT Wealth Management LLC raised its holdings in General Mills by 33.4% during the first quarter. IHT Wealth Management LLC now owns 2,506 shares of the company’s stock worth $146,000 after purchasing an additional 627 shares during the last quarter. Finally, Tradewinds Capital Management LLC raised its holdings in General Mills by 127.3% during the third quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock worth $135,000 after purchasing an additional 1,459 shares during the last quarter. Hedge funds and other institutional investors own 72.78% of the company’s stock.
General Mills, Inc. (NYSE:GIS) traded up $0.16 during mid-day trading on Thursday, reaching $57.41. The company’s stock had a trading volume of 2,973,400 shares, compared to its average volume of 3,723,763. General Mills, Inc. has a 1 year low of $49.65 and a 1 year 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. The stock has a market capitalization of $32,537.38, a P/E ratio of 19.02, a PEG ratio of 2.13 and a beta of 0.66.
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 Zacks’ consensus estimate of $0.76 by ($0.05). General Mills had a net margin of 10.68% and a return on equity of 39.82%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period last year, the firm posted $0.78 EPS. General Mills’s revenue was down 3.6% on a year-over-year basis. equities analysts predict that General Mills, Inc. will post 3.1 earnings per share for the current fiscal year.
Several equities analysts recently issued reports on GIS shares. Zacks Investment Research cut General Mills from a “hold” rating to a “sell” rating in a report on Monday, October 23rd. Jefferies Group started coverage on General Mills in a report on Friday, October 20th. They set a “hold” rating and a $56.00 price objective for the company. Societe Generale raised General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Royal Bank Of Canada reduced their price objective on General Mills from $62.00 to $58.00 and set a “sector perform” rating for the company in a report on Thursday, September 21st. Finally, BidaskClub raised General Mills from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Four investment 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 company has an average rating of “Hold” and a consensus target price of $56.60.
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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