Pioneer Investment Management Inc. Raises Position in General Mills, Inc. (GIS)
Pioneer Investment Management Inc. increased its position in shares of General Mills, Inc. (NYSE:GIS) by 44.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 493,058 shares of the company’s stock after purchasing an additional 152,158 shares during the quarter. Pioneer Investment Management Inc. owned 0.09% of General Mills worth $27,315,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of GIS. Waldron LP acquired a new position in General Mills during the first quarter worth $420,000. Sumitomo Mitsui Asset Management Company LTD raised its holdings in General Mills by 10.6% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 49,395 shares of the company’s stock worth $2,914,000 after purchasing an additional 4,740 shares during the last quarter. Bridge Creek Capital Management LLC raised its holdings in General Mills by 3.2% during the first quarter. Bridge Creek Capital Management LLC now owns 63,059 shares of the company’s stock worth $3,721,000 after purchasing an additional 1,960 shares during the last quarter. Arrow Financial Corp raised its holdings in General Mills by 1.2% during the first quarter. Arrow Financial Corp now owns 48,961 shares of the company’s stock worth $2,889,000 after purchasing an additional 570 shares during the last quarter. Finally, Greenleaf Trust raised its holdings in General Mills by 4.7% during the first quarter. Greenleaf Trust now owns 3,867 shares of the company’s stock worth $228,000 after purchasing an additional 172 shares during the last quarter. 69.38% of the stock is owned by hedge funds and other institutional investors.
Shares of General Mills, Inc. (NYSE:GIS) opened at 51.23 on Friday. General Mills, Inc. has a 12 month low of $51.06 and a 12 month high of $65.57. The stock has a market cap of $29.56 billion, a P/E ratio of 18.49 and a beta of 0.62. The stock has a 50 day moving average price of $55.75 and a 200-day moving average price of $56.75.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.05). The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.79 billion. General Mills had a net margin of 10.68% and a return on equity of 39.82%. General Mills’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 EPS. On average, analysts forecast that General Mills, Inc. will post $3.09 EPS for the current fiscal year.
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Several brokerages recently issued reports on GIS. Royal Bank Of Canada reduced their price objective on General Mills from $65.00 to $62.00 and set a “sector perform” rating for the company in a report on Thursday, June 29th. BMO Capital Markets reaffirmed a “hold” rating on shares of General Mills in a report on Tuesday, August 8th. UBS AG reaffirmed a “neutral” rating and set a $58.00 price objective (down from $61.00) on shares of General Mills in a report on Friday, June 30th. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, Wells Fargo & Company reduced their price objective on General Mills from $56.00 to $53.00 and set a “market perform” rating for the company in a report on Friday. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.66.
General Mills Company 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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