General Mills, Inc. (GIS) Holdings Trimmed by Pinnacle Associates Ltd.
Pinnacle Associates Ltd. trimmed its position in General Mills, Inc. (NYSE:GIS) by 14.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,819 shares of the company’s stock after selling 12,653 shares during the period. Pinnacle Associates Ltd.’s holdings in General Mills were worth $3,821,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in GIS. Lenox Wealth Advisors Inc. boosted its stake in General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after acquiring an additional 15 shares in the last quarter. Cable Hill Partners LLC boosted its stake in General Mills by 274.5% in the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after acquiring an additional 1,647 shares in the last quarter. Grove Bank & Trust boosted its stake in General Mills by 322.7% in the third quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock valued at $127,000 after acquiring an additional 1,878 shares in the last quarter. Tradewinds Capital Management LLC boosted its stake in General Mills by 127.3% in the third quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock valued at $135,000 after acquiring an additional 1,459 shares in the last quarter. Finally, Spectrum Management Group Inc. acquired a new stake in General Mills in the third quarter valued at approximately $135,000. Institutional investors own 72.78% of the company’s stock.
Several brokerages have weighed in on GIS. Susquehanna Bancshares set a $57.00 target price on shares of General Mills and gave the company a “hold” rating in a research note on Wednesday, December 13th. Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. BMO Capital Markets reiterated a “market perform” rating and set a $57.00 price objective (down from $60.00) on shares of General Mills in a research note on Thursday, September 21st. Piper Jaffray Companies reiterated a “sell” rating and set a $53.00 price objective on shares of General Mills in a research note on Thursday, September 21st. Finally, Wells Fargo & Company lowered their price objective on shares of General Mills from $56.00 to $53.00 and set a “market perform” rating for the company in a research note on Friday, September 22nd. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. General Mills presently has a consensus rating of “Hold” and a consensus target price of $56.66.
General Mills, Inc. (NYSE:GIS) opened at $56.89 on Monday. The stock has a market cap of $32,332.80, a price-to-earnings ratio of 18.90, a P/E/G ratio of 2.12 and a beta of 0.66. General Mills, Inc. has a 1 year low of $49.65 and a 1 year high of $63.74. The company has a current ratio of 0.74, a quick ratio of 0.47 and a debt-to-equity ratio of 1.83.
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. equities analysts anticipate that General Mills, Inc. will post 3.1 EPS for the current fiscal year.
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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