Dai Ichi Life Insurance Company Ltd Reduces Position in General Mills, Inc. (GIS)

Dai Ichi Life Insurance Company Ltd trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 74.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,524 shares of the company’s stock after selling 164,015 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in General Mills were worth $2,977,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in General Mills by 1.4% during the second 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. boosted its stake in General Mills by 15.9% during the third 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. American International Group Inc. boosted its stake in General Mills by 1,708.4% during the third quarter. American International Group Inc. now owns 9,027,740 shares of the company’s stock worth $467,276,000 after buying an additional 8,528,534 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in General Mills by 13.5% during the third 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. Finally, Morgan Stanley boosted its stake in General Mills by 29.4% during the first 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. Hedge funds and other institutional investors own 72.78% of the company’s stock.

A number of equities analysts have weighed in on GIS shares. Consumer Edge raised General Mills from a “sell” rating to a “neutral” rating in a research note on Friday, September 8th. BidaskClub raised General Mills from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. BMO Capital Markets reissued a “market perform” rating and set a $57.00 price objective (down previously from $60.00) on shares of General Mills in a research note on Thursday, September 21st. Piper Jaffray Companies reissued a “sell” rating and set a $53.00 price objective on shares of General Mills in a research note on Thursday, September 21st. Finally, Credit Suisse Group reissued a “neutral” rating and set a $53.00 price objective on shares of General Mills in a research note on Monday, September 25th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company’s stock. General Mills currently has a consensus rating of “Hold” and a consensus target price of $56.66.

Shares of General Mills, Inc. (NYSE:GIS) traded down $0.34 during trading on Friday, hitting $56.13. The stock had a trading volume of 2,842,600 shares, compared to its average volume of 3,715,397. General Mills, Inc. has a twelve month low of $49.65 and a twelve month high of $63.74. The firm has a market cap of $32,094.08, a price-to-earnings ratio of 18.76, a PEG ratio of 2.10 and a beta of 0.66. 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 announced its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the company earned $0.78 EPS. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. research analysts expect that General Mills, Inc. will post 3.1 earnings per share for the current year.

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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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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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