Mcmillion Capital Management Inc. Has $3,235,000 Position in General Mills Inc. (GIS)
Mcmillion Capital Management Inc. cut its stake in shares of General Mills Inc. (NYSE:GIS) by 2.0% during the second quarter, Holdings Channel reports. The firm owned 45,363 shares of the company’s stock after selling 935 shares during the period. General Mills comprises about 2.5% of Mcmillion Capital Management Inc.’s investment portfolio, making the stock its 18th largest position. Mcmillion Capital Management Inc.’s holdings in General Mills were worth $3,235,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the stock. State Street Corp increased its stake in shares of General Mills by 2.1% in the first quarter. State Street Corp now owns 36,502,697 shares of the company’s stock valued at $2,312,451,000 after buying an additional 736,454 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of General Mills by 8.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 19,026,634 shares of the company’s stock valued at $1,205,337,000 after buying an additional 1,447,446 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of General Mills by 5.4% in the first quarter. BlackRock Fund Advisors now owns 13,141,964 shares of the company’s stock valued at $832,543,000 after buying an additional 673,941 shares in the last quarter. BlackRock Group LTD increased its stake in shares of General Mills by 17.8% in the first quarter. BlackRock Group LTD now owns 6,924,092 shares of the company’s stock valued at $438,641,000 after buying an additional 1,047,510 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of General Mills by 34.5% in the second quarter. American Century Companies Inc. now owns 6,546,046 shares of the company’s stock valued at $466,864,000 after buying an additional 1,679,776 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.
Shares of General Mills Inc. (NYSE:GIS) traded down 0.53% during mid-day trading on Wednesday, hitting $64.36. The stock had a trading volume of 2,836,955 shares. The stock’s 50-day moving average is $69.44 and its 200-day moving average is $66.07. General Mills Inc. has a 1-year low of $53.53 and a 1-year high of $72.95. The firm has a market capitalization of $38.42 billion, a PE ratio of 23.23 and a beta of 0.38.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 21st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.03. General Mills had a return on equity of 33.96% and a net margin of 10.25%. The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the business posted $0.79 earnings per share. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. Equities analysts expect that General Mills Inc. will post $3.10 earnings per share for the current year.
Several equities research analysts have recently commented on GIS shares. Royal Bank Of Canada restated an “outperform” rating and issued a $70.00 target price (up previously from $64.00) on shares of General Mills in a research note on Friday, June 17th. Morgan Stanley restated a “hold” rating on shares of General Mills in a research note on Sunday, July 17th. Goldman Sachs Group Inc. restated a “sell” rating and issued a $61.00 target price (up previously from $60.00) on shares of General Mills in a research note on Friday, July 15th. Zacks Investment Research upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Friday, June 24th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $67.00 target price on shares of General Mills in a research note on Wednesday, September 14th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $67.40.
In other General Mills news, Director Michael D. Rose sold 10,000 shares of General Mills stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $72.32, for a total value of $723,200.00. Following the transaction, the director now owns 71,240 shares in the company, valued at $5,152,076.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John R. Church sold 99,373 shares of General Mills stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $71.17, for a total value of $7,072,376.41. Following the completion of the transaction, the insider now owns 108,311 shares in the company, valued at approximately $7,708,493.87. The disclosure for this sale can be found here. 1.30% of the stock is owned by company 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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