Hightower Advisors Lowers stake in General Mills (GIS)

General Mills (GIS) : Hightower Advisors reduced its stake in General Mills by 5.28% during the most recent quarter end. The investment management company now holds a total of 372,662 shares of General Mills which is valued at $26,522,355 after selling 20,769 shares in General Mills , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.General Mills makes up approximately 0.33% of Hightower Advisors’s portfolio.

Other Hedge Funds, Including , Dixon Hubard Feinour Brown Incva reduced its stake in GIS by selling 271 shares or 1.04% in the most recent quarter. The Hedge Fund company now holds 25,679 shares of GIS which is valued at $1,827,574. General Mills makes up approx 0.56% of Dixon Hubard Feinour Brown Incva’s portfolio.Schnieders Capital Management reduced its stake in GIS by selling 333 shares or 1.25% in the most recent quarter. The Hedge Fund company now holds 26,253 shares of GIS which is valued at $1,865,801. General Mills makes up approx 1.02% of Schnieders Capital Management’s portfolio.Coconut Grove Bank boosted its stake in GIS in the latest quarter, The investment management firm added 374 additional shares and now holds a total of 10,346 shares of General Mills which is valued at $729,910. General Mills makes up approx 0.65% of Coconut Grove Bank’s portfolio.Congress Asset Management Co reduced its stake in GIS by selling 2,046 shares or 1.87% in the most recent quarter. The Hedge Fund company now holds 107,303 shares of GIS which is valued at $7,570,227. General Mills makes up approx 0.17% of Congress Asset Management Co’s portfolio. Simplex Trading sold out all of its stake in GIS during the most recent quarter. The investment firm sold 49,685 shares of GIS which is valued $3,562,415.

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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