Edge Asset Management Inc. boosted its stake in General Mills Inc. (NYSE:GIS) by 7.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 420,926 shares of the company’s stock after buying an additional 30,881 shares during the period. Edge Asset Management Inc. owned approximately 0.07% of General Mills worth $30,020,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Berkshire Asset Management LLC PA raised its position in General Mills by 2.7% in the first quarter. Berkshire Asset Management LLC PA now owns 307,798 shares of the company’s stock worth $19,499,000 after buying an additional 7,951 shares during the period. Dalton Greiner Hartman Maher & Co. raised its position in General Mills by 18.6% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 399,646 shares of the company’s stock worth $22,268,000 after buying an additional 62,692 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in General Mills by 0.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 45,202 shares of the company’s stock worth $2,864,000 after buying an additional 348 shares during the period. Webster Bank N. A. raised its position in General Mills by 1.2% in the first quarter. Webster Bank N. A. now owns 6,011 shares of the company’s stock worth $380,000 after buying an additional 74 shares during the period. Finally, Prospera Financial Services Inc raised its position in General Mills by 1.0% in the first quarter. Prospera Financial Services Inc now owns 5,111 shares of the company’s stock worth $324,000 after buying an additional 52 shares during the period. 69.14% of the stock is owned by hedge funds and other institutional investors.

General Mills Inc. (NYSE:GIS) traded down 0.64% during trading on Tuesday, hitting $64.79. The stock had a trading volume of 1,706,484 shares. The company’s 50 day moving average is $69.64 and its 200 day moving average is $66.03. General Mills Inc. has a 52-week low of $53.53 and a 52-week high of $72.95. The firm has a market cap of $38.68 billion, a PE ratio of 23.39 and a beta of 0.38.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 29th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. The firm earned $3.93 billion during the quarter, compared to analyst estimates of $3.86 billion. General Mills had a return on equity of 33.96% and a net margin of 10.25%. General Mills’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 earnings per share. Equities research analysts forecast that General Mills Inc. will post $3.10 earnings per share for the current year.

A number of research firms recently weighed in on GIS. Morgan Stanley reaffirmed a “hold” rating on shares of General Mills in a research report on Sunday, July 17th. Royal Bank Of Canada raised their price objective on General Mills from $70.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, June 30th. Citigroup Inc. reaffirmed a “buy” rating and set a $76.00 price objective (up previously from $72.00) on shares of General Mills in a research report on Wednesday, June 29th. Goldman Sachs Group Inc. reaffirmed a “sell” rating and set a $60.00 price objective (up previously from $58.00) on shares of General Mills in a research report on Thursday, June 30th. Finally, Bank of America Corp. reaffirmed a “sell” rating on shares of General Mills in a research report on Tuesday, May 24th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $67.40.

In related news, Director Dorothy A. Terrell sold 13,556 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $71.70, for a total value of $971,965.20. Following the completion of the sale, the director now owns 72,542 shares in the company, valued at $5,201,261.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter C. Erickson sold 83,850 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $71.90, for a total value of $6,028,815.00. Following the completion of the sale, the executive vice president now owns 213,669 shares of the company’s stock, valued at approximately $15,362,801.10. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

About General Mills

General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S.

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