Indexiq Advisors buys $3,120,093 stake in General Mills (GIS)

General Mills (GIS) : Indexiq Advisors scooped up 27,096 additional shares in General Mills during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 43,840 shares of General Mills which is valued at $3,120,093.General Mills makes up approximately 0.18% of Indexiq Advisors’s portfolio.

Other Hedge Funds, Including , Comerica Bank reduced its stake in GIS by selling 2,163 shares or 0.94% in the most recent quarter. The Hedge Fund company now holds 228,878 shares of GIS which is valued at $16,289,247. General Mills makes up approx 0.14% of Comerica Bank’s portfolio.M&r Capital Management Inc boosted its stake in GIS in the latest quarter, The investment management firm added 625 additional shares and now holds a total of 27,623 shares of General Mills which is valued at $1,965,929. General Mills makes up approx 0.50% of M&r Capital Management Inc’s portfolio. Notis-mcconarty Edward added GIS to its portfolio by purchasing 3,000 company shares during the most recent quarter which is valued at $213,210. General Mills makes up approx 0.14% of Notis-mcconarty Edward’s portfolio. Biltmore Wealth Management added GIS to its portfolio by purchasing 11,265 company shares during the most recent quarter which is valued at $786,072. General Mills makes up approx 0.66% of Biltmore Wealth 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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