Highstreet Asset Management Inc. Increases Holdings in General Mills, Inc. (GIS)
Highstreet Asset Management Inc. grew its position in General Mills, Inc. (NYSE:GIS) by 87.3% in the first quarter, HoldingsChannel.com reports. The fund owned 17,238 shares of the company’s stock after buying an additional 8,036 shares during the period. Highstreet Asset Management Inc.’s holdings in General Mills were worth $892,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Actinver Wealth Management Inc. bought a new position in shares of General Mills during the 4th quarter worth approximately $991,000. Two Sigma Advisers LP lifted its position in shares of General Mills by 24.1% during the 4th quarter. Two Sigma Advisers LP now owns 897,719 shares of the company’s stock worth $34,957,000 after buying an additional 174,157 shares during the period. Private Ocean LLC lifted its position in shares of General Mills by 585.4% during the 1st quarter. Private Ocean LLC now owns 1,405 shares of the company’s stock worth $73,000 after buying an additional 1,200 shares during the period. Norges Bank bought a new position in shares of General Mills during the 4th quarter worth approximately $208,406,000. Finally, DNB Asset Management AS lifted its position in shares of General Mills by 27.4% during the 1st quarter. DNB Asset Management AS now owns 110,514 shares of the company’s stock worth $5,719,000 after buying an additional 23,762 shares during the period. Institutional investors own 69.79% of the company’s stock.
Several research firms recently commented on GIS. Bank of America restated a “neutral” rating and set a $49.00 target price on shares of General Mills in a research report on Friday, May 17th. Goldman Sachs Group downgraded General Mills from a “neutral” rating to a “sell” rating and set a $41.00 target price for the company. in a research report on Tuesday, May 28th. Wells Fargo & Co raised their target price on General Mills from $53.00 to $56.00 and gave the stock a “positive” rating in a research report on Friday, March 22nd. Morgan Stanley raised their target price on General Mills from $41.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Finally, Citigroup restated a “top pick” rating and set a $60.00 target price (up previously from $54.00) on shares of General Mills in a research report on Thursday, March 21st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. General Mills presently has a consensus rating of “Hold” and a consensus target price of $49.77.
GIS stock opened at $49.44 on Monday. General Mills, Inc. has a fifty-two week low of $36.42 and a fifty-two week high of $53.66. The firm has a market cap of $29.60 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 2.24 and a beta of 0.75. The company has a quick ratio of 0.35, a current ratio of 0.55 and a debt-to-equity ratio of 1.61.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 20th. The company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.14. General Mills had a return on equity of 28.11% and a net margin of 9.26%. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period last year, the firm posted $0.79 EPS. The business’s revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts expect that General Mills, Inc. will post 3.15 EPS for the current fiscal year.
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General Mills Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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