Denver Investment Advisors LLC Sells 18,867 Shares of General Mills Inc. (GIS)
Denver Investment Advisors LLC reduced its position in shares of General Mills Inc. (NYSE:GIS) by 10.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 164,560 shares of the company’s stock after selling 18,867 shares during the period. Denver Investment Advisors LLC’s holdings in General Mills were worth $11,736,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in GIS. GaveKal Capital LLC boosted its stake in shares of General Mills by 5.0% in the second quarter. GaveKal Capital LLC now owns 273,177 shares of the company’s stock worth $19,483,000 after buying an additional 12,990 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of General Mills by 647.8% in the first quarter. Panagora Asset Management Inc. now owns 1,363,848 shares of the company’s stock worth $86,400,000 after buying an additional 1,181,476 shares during the last quarter. IMS Capital Management purchased a new stake in General Mills during the second quarter valued at $212,000. State of Alaska Department of Revenue boosted its stake in General Mills by 5.3% in the second quarter. State of Alaska Department of Revenue now owns 180,110 shares of the company’s stock valued at $12,844,000 after buying an additional 9,006 shares in the last quarter. Finally, MAI Capital Management boosted its stake in General Mills by 2.3% in the second quarter. MAI Capital Management now owns 4,600 shares of the company’s stock valued at $328,000 after buying an additional 103 shares in the last quarter. 69.14% of the stock is owned by institutional investors.
Shares of General Mills Inc. (NYSE:GIS) traded down 0.61% during mid-day trading on Tuesday, reaching $64.81. The company had a trading volume of 1,709,153 shares. The firm has a market capitalization of $38.69 billion, a PE ratio of 23.40 and a beta of 0.38. The stock has a 50 day moving average price of $69.64 and a 200 day moving average price of $66.03. General Mills Inc. has a 12-month low of $53.53 and a 12-month high of $72.95.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 29th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.60 by $0.06. General Mills had a return on equity of 33.96% and a net margin of 10.25%. The business earned $3.93 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter last year, the company earned $0.75 EPS. The firm’s revenue was down 8.6% compared to the same quarter last year. On average, equities analysts forecast that General Mills Inc. will post $3.10 earnings per share for the current year.
Several equities research analysts recently weighed in on GIS shares. 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. Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Friday, June 24th. Morgan Stanley reaffirmed an “equal weight” rating and set a $63.00 price objective on shares of General Mills in a research report on Thursday, June 30th. Susquehanna reaffirmed a “hold” rating and set a $59.00 price objective on shares of General Mills in a research report on Tuesday, June 28th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $63.00 price objective (up previously from $62.00) on shares of General Mills in a research report on Thursday, June 23rd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. General Mills presently has an average rating of “Hold” and a consensus price target of $67.40.
In other news, COO Jeffrey L. Harmening sold 33,150 shares of General Mills stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $71.05, for a total transaction of $2,355,307.50. Following the completion of the sale, the chief operating officer now owns 133,106 shares in the company, valued at approximately $9,457,181.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael D. Rose sold 10,000 shares of General Mills stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $71.11, for a total value of $711,100.00. Following the sale, the director now owns 79,954 shares of the company’s stock, valued at approximately $5,685,528.94. 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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