250,100 Shares in General Mills, Inc. (GIS) Purchased by Andra AP fonden
Andra AP fonden purchased a new position in General Mills, Inc. (NYSE:GIS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 250,100 shares of the company’s stock, valued at approximately $11,069,000. General Mills makes up 0.3% of Andra AP fonden’s investment portfolio, making the stock its 16th largest holding.
A number of other institutional investors have also recently made changes to their positions in GIS. Lee Financial Co lifted its stake in General Mills by 178.2% during the 1st quarter. Lee Financial Co now owns 2,504 shares of the company’s stock valued at $113,000 after acquiring an additional 1,604 shares during the period. Institutional & Family Asset Management LLC bought a new position in General Mills during the 1st quarter valued at about $115,000. Acadian Asset Management LLC bought a new position in General Mills during the 2nd quarter valued at about $115,000. Adviser Investments LLC lifted its stake in General Mills by 158.7% during the 2nd quarter. Adviser Investments LLC now owns 2,608 shares of the company’s stock valued at $115,000 after acquiring an additional 1,600 shares during the period. Finally, CSat Investment Advisory L.P. bought a new position in General Mills during the 2nd quarter valued at about $118,000. Institutional investors own 70.62% of the company’s stock.
Several equities analysts have issued reports on GIS shares. Jefferies Financial Group restated a “buy” rating and set a $55.00 target price on shares of General Mills in a research note on Wednesday, June 27th. Citigroup reduced their price target on shares of General Mills from $61.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, June 29th. Susquehanna Bancshares set a $50.00 price target on shares of General Mills and gave the company a “buy” rating in a research report on Monday, May 21st. Piper Jaffray Companies set a $45.00 price target on shares of General Mills and gave the company a “hold” rating in a research report on Thursday, July 12th. Finally, Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $50.35.
NYSE GIS opened at $47.77 on Tuesday. General Mills, Inc. has a 52 week low of $41.01 and a 52 week high of $60.69. The stock has a market cap of $28.31 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 1.83 and a beta of 0.74. The company has a quick ratio of 0.34, a current ratio of 0.56 and a debt-to-equity ratio of 1.95.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, June 27th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.07. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.89 billion. General Mills had a net margin of 13.54% and a return on equity of 35.14%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 EPS. sell-side analysts forecast that General Mills, Inc. will post 3.05 EPS for the current fiscal year.
About General Mills
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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