General Mills, Inc. (GIS) Holdings Cut by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan trimmed its stake in shares of General Mills, Inc. (NYSE:GIS) by 22.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,910 shares of the company’s stock after selling 4,230 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in General Mills were worth $772,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Flossbach Von Storch AG purchased a new position in shares of General Mills in the second quarter worth about $227,578,000. Janus Henderson Group PLC lifted its stake in shares of General Mills by 3,178.6% in the second quarter. Janus Henderson Group PLC now owns 2,611,312 shares of the company’s stock worth $144,666,000 after buying an additional 2,531,664 shares in the last quarter. Federated Investors Inc. PA lifted its stake in shares of General Mills by 94.6% in the second quarter. Federated Investors Inc. PA now owns 4,516,168 shares of the company’s stock worth $250,196,000 after buying an additional 2,195,397 shares in the last quarter. Morgan Stanley lifted its stake in shares of General Mills by 29.4% in the first quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock worth $416,318,000 after buying an additional 1,603,577 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of General Mills by 15.9% in the third quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock worth $584,665,000 after buying an additional 1,550,074 shares in the last quarter. 72.78% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. BidaskClub raised shares of General Mills from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Susquehanna Bancshares restated a “hold” rating and set a $58.00 price objective on shares of General Mills in a research report on Tuesday, September 19th. Piper Jaffray Companies set a $56.00 price objective on shares of General Mills and gave the stock a “sell” rating in a research report on Monday, August 7th. Finally, BMO Capital Markets restated a “hold” rating on shares of General Mills in a research report on Tuesday, August 8th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $56.60.
Shares of General Mills, Inc. (GIS) opened at $57.21 on Tuesday. General Mills, Inc. has a 12-month low of $49.65 and a 12-month high of $64.06. The firm has a market cap of $32,088.39, a PE ratio of 18.76, a price-to-earnings-growth ratio of 2.10 and a beta of 0.66. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.47 and a current ratio of 0.74.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). General Mills had a net margin of 10.68% and a return on equity of 39.82%. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. General Mills’s revenue was down 3.6% on a year-over-year basis. equities research analysts anticipate that General Mills, Inc. will post 3.1 EPS for the current year.
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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