Bernicke Wealth Management Ltd. Lowers stake in General Mills (GIS)

General Mills (GIS) : Bernicke Wealth Management Ltd. reduced its stake in General Mills by 0.28% during the most recent quarter end. The investment management company now holds a total of 16,784 shares of General Mills which is valued at $1,194,517 after selling 47 shares in General Mills , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.General Mills makes up approximately 1.05% of Bernicke Wealth Management Ltd.’s portfolio.

Other Hedge Funds, Including , Commonwealth Of Pennsylvania Public School Empls Retrmt Sys boosted its stake in GIS in the latest quarter, The investment management firm added 3,561 additional shares and now holds a total of 47,592 shares of General Mills which is valued at $3,387,123. General Mills makes up approx 0.06% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio.Texas Permanent School Fund reduced its stake in GIS by selling 12,018 shares or 5.87% in the most recent quarter. The Hedge Fund company now holds 192,848 shares of GIS which is valued at $13,724,992. General Mills makes up approx 0.18% of Texas Permanent School Fund’s portfolio.Plante Moran Financial Advisors boosted its stake in GIS in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 1,127 shares of General Mills which is valued at $78,642. General Mills makes up approx 0.06% of Plante Moran Financial Advisors’s portfolio.Cardinal Capital Management reduced its stake in GIS by selling 1,128 shares or 1.68% in the most recent quarter. The Hedge Fund company now holds 66,008 shares of GIS which is valued at $4,745,315. General Mills makes up approx 1.87% of Cardinal Capital Management’s portfolio.

General Mills closed down -0.46 points or -0.64% at $71.1 with 22,70,255 shares getting traded on Tuesday. Post opening the session at $71.56, the shares hit an intraday low of $70.93 and an intraday high of $71.625 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, General Mills reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jun 29, 2016. Analyst had a consensus of $0.60. The company had revenue of $3928.00 million for the quarter, compared to analysts expectations of $3860.63 million. The company’s revenue was down -8.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.75 EPS.

Many Wall Street Analysts have commented on General Mills. Company shares were Reiterated by UBS on Jul 6, 2016 to “Neutral”, Firm has raised the Price Target to $ 71 from a previous price target of $60 .General Mills was Upgraded by BofA/Merrill to ” Neutral” on Jun 30, 2016. Company shares were Reiterated by RBC Capital Mkts on Jun 30, 2016 to “Outperform”, Firm has raised the Price Target to $ 73 from a previous price target of $70 .

General Mills Inc. is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S. Retail International and Convenience Stores and Foodservice. The Company offers a range of food products with a focus on five categories: ready-to-eat cereal; convenient meals including meal kits ethnic meals pizza soup side dish mixes frozen breakfast and frozen entrees; snacks including grain fruit and savory snacks nutrition bars and frozen hot snacks; yogurt and super-premium ice cream. The Company’s other product categories include baking mixes and ingredients; refrigerated and frozen dough and frozen and shelf-stable vegetables. The Company has 50% interests in two joint ventures that manufacture and market food products.

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