General Mills, Inc. (GIS) Position Increased by Skandinaviska Enskilda Banken AB publ
Skandinaviska Enskilda Banken AB publ lifted its stake in General Mills, Inc. (NYSE:GIS) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,323 shares of the company’s stock after purchasing an additional 1,400 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in General Mills were worth $5,866,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in GIS. American International Group Inc. increased its holdings in General Mills by 1,708.4% during the 3rd quarter. American International Group Inc. now owns 9,027,740 shares of the company’s stock valued at $467,276,000 after acquiring an additional 8,528,534 shares in the last quarter. Flossbach Von Storch AG purchased a new position in General Mills during the 2nd quarter valued at about $227,578,000. Janus Henderson Group PLC increased its holdings in General Mills by 3,178.6% during the 2nd quarter. Janus Henderson Group PLC now owns 2,611,312 shares of the company’s stock valued at $144,666,000 after acquiring an additional 2,531,664 shares in the last quarter. Federated Investors Inc. PA increased its holdings in General Mills by 94.6% during the 2nd quarter. Federated Investors Inc. PA now owns 4,516,168 shares of the company’s stock valued at $250,196,000 after acquiring an additional 2,195,397 shares in the last quarter. Finally, Morgan Stanley increased its holdings in General Mills by 29.4% during the 1st quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock valued at $416,318,000 after acquiring an additional 1,603,577 shares in the last quarter. Hedge funds and other institutional investors own 72.78% of the company’s stock.
Several equities analysts have weighed in on GIS shares. Zacks Investment Research upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Friday, September 15th. BidaskClub upgraded shares of General Mills from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Citigroup restated a “buy” rating and set a $67.00 target price on shares of General Mills in a report on Thursday, September 21st. Morgan Stanley restated an “equal weight” rating and set a $52.00 target price (down from $55.00) on shares of General Mills in a report on Thursday, September 21st. Finally, Susquehanna Bancshares restated a “hold” rating and set a $58.00 target price on shares of General Mills in a report on Tuesday, September 19th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $56.66.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). General Mills had a return on equity of 39.82% and a net margin of 10.68%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. research analysts predict that General Mills, Inc. will post 3.1 EPS for the current year.
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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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