Arrow Financial Corp Has $1.18 Million Position in General Mills, Inc. (GIS)
Arrow Financial Corp cut its holdings in General Mills, Inc. (NYSE:GIS) by 56.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,235 shares of the company’s stock after selling 27,726 shares during the quarter. Arrow Financial Corp’s holdings in General Mills were worth $1,176,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Waldron LP bought a new position in shares of General Mills during the 1st quarter valued at $420,000. Greenleaf Trust lifted its holdings in shares of General Mills by 4.7% during the 1st quarter. Greenleaf Trust now owns 3,867 shares of the company’s stock valued at $228,000 after buying an additional 172 shares during the period. Oxbow Advisors LLC lifted its holdings in shares of General Mills by 8.9% during the 1st quarter. Oxbow Advisors LLC now owns 9,810 shares of the company’s stock valued at $579,000 after buying an additional 800 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of General Mills by 124.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 402,710 shares of the company’s stock valued at $23,764,000 after buying an additional 223,300 shares during the period. Finally, Ariel Capital Advisors LLC lifted its holdings in shares of General Mills by 6.7% during the 1st quarter. Ariel Capital Advisors LLC now owns 39,107 shares of the company’s stock valued at $2,308,000 after buying an additional 2,459 shares during the period. 69.38% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Mills, Inc. (NYSE GIS) opened at 51.23 on Friday. General Mills, Inc. has a 52 week low of $51.06 and a 52 week high of $65.57. The stock has a market cap of $29.12 billion, a price-to-earnings ratio of 18.36 and a beta of 0.62. The firm 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 posted its earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.79 billion. General Mills had a net margin of 10.68% and a return on equity of 39.82%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 earnings per share. On average, equities analysts anticipate that General Mills, Inc. will post $3.09 earnings per share for the current year.
Several research firms have recently weighed in on GIS. UBS AG reissued a “neutral” rating and set a $61.00 price target (down from $63.00) on shares of General Mills in a report on Wednesday, June 21st. BMO Capital Markets reissued a “market perform” rating and set a $57.00 price target (down from $60.00) on shares of General Mills in a report on Thursday. Bank of America Corporation lowered their price target on General Mills from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday. Wells Fargo & Company lowered their price target on General Mills from $56.00 to $53.00 and set a “market perform” rating on the stock in a report on Friday. Finally, Piper Jaffray Companies set a $56.00 price target on General Mills and gave the company a “sell” rating in a report on Monday, August 7th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. General Mills currently has a consensus rating of “Hold” and an average target price of $57.66.
About General Mills
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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