Oppenheimer & Co. Inc. grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,060 shares of the company’s stock after purchasing an additional 2,105 shares during the period. Oppenheimer & Co. Inc.’s holdings in General Mills were worth $2,954,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of General Mills by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 39,968,232 shares of the company’s stock worth $2,214,240,000 after buying an additional 533,919 shares during the last quarter. American Century Companies Inc. raised its stake in shares of General Mills by 15.9% during the 3rd quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock worth $584,665,000 after buying an additional 1,550,074 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of General Mills by 13.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,490,175 shares of the company’s stock worth $387,691,000 after buying an additional 890,262 shares during the last quarter. Morgan Stanley raised its stake in shares of General Mills by 29.4% during the 1st quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock worth $416,318,000 after buying an additional 1,603,577 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of General Mills by 5.3% during the 1st quarter. Geode Capital Management LLC now owns 5,814,657 shares of the company’s stock worth $342,642,000 after buying an additional 295,119 shares during the last quarter. Institutional investors own 72.78% of the company’s stock.
General Mills, Inc. (NYSE:GIS) traded up $0.05 during midday trading on Tuesday, hitting $55.89. 3,303,300 shares of the stock were exchanged, compared to its average volume of 3,720,624. General Mills, Inc. has a one year low of $49.65 and a one year high of $64.06. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.47 and a current ratio of 0.74. The firm has a market cap of $31,730.34, a P/E ratio of 18.55, a P/E/G ratio of 2.08 and a beta of 0.66.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.05). General Mills had a net margin of 10.68% and a return on equity of 39.82%. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the company earned $0.78 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. analysts expect that General Mills, Inc. will post 3.1 EPS for the current fiscal year.
GIS has been the subject of several research reports. Zacks Investment Research downgraded General Mills from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Jefferies Group started coverage on shares of General Mills in a research note on Friday, October 20th. They issued a “hold” rating and a $56.00 target price for the company. Societe Generale raised shares of General Mills from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Royal Bank of Canada cut their target price on shares of General Mills from $62.00 to $58.00 and set a “sector perform” rating for the company in a research note on Thursday, September 21st. Finally, BidaskClub raised shares of General Mills from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. General Mills presently has a consensus rating of “Hold” and an average target price of $56.60.
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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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