US Bancorp DE lessened its stake in General Mills, Inc. (NYSE:GIS) by 2.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,799,250 shares of the company’s stock after selling 71,539 shares during the period. US Bancorp DE’s holdings in General Mills were worth $147,018,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Krane Funds Advisors LLC purchased a new position in General Mills in the second quarter worth approximately $25,000. Employers Holdings Inc. purchased a new position in General Mills in the second quarter worth approximately $32,000. Certified Advisory Corp grew its position in General Mills by 100.9% in the first quarter. Certified Advisory Corp now owns 643 shares of the company’s stock worth $33,000 after acquiring an additional 323 shares during the period. NuWave Investment Management LLC grew its position in General Mills by 377.4% in the second quarter. NuWave Investment Management LLC now owns 635 shares of the company’s stock worth $33,000 after acquiring an additional 502 shares during the period. Finally, Smart Money Group LLC purchased a new position in General Mills in the second quarter worth approximately $33,000. 68.97% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on GIS. Evercore ISI assumed coverage on General Mills in a research report on Tuesday, June 11th. They set an “in-line” rating and a $56.00 price target for the company. Morgan Stanley raised their price target on General Mills from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 27th. Credit Suisse Group restated a “hold” rating and set a $56.00 price target on shares of General Mills in a research report on Thursday. Zacks Investment Research upgraded General Mills from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Thursday, August 22nd. Finally, Piper Jaffray Companies raised their price target on General Mills from $50.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $53.21.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, June 26th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The business had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.24 billion. General Mills had a return on equity of 27.67% and a net margin of 10.39%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $0.79 earnings per share. On average, analysts expect that General Mills, Inc. will post 3.37 EPS for the current year.
General Mills Company Profile
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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