General Mills (GIS) : Pensionfund Sabic has sold out all of its stake in General Mills during the most recent quarter, according to a report filed by the company on Apr 4, 2016 with the SEC. The investment management company has sold out 42,000 shares of General Mills which is valued at $2.6 Million.
Other Hedge Funds, Including , Lvm Capital Management Ltdmi reduced its stake in GIS by selling 642 shares or 9.77% in the most recent quarter. The Hedge Fund company now holds 5,930 shares of GIS which is valued at $372,878. General Mills makes up approx 0.12% of Lvm Capital Management Ltdmi’s portfolio.Beacon Financial Group reduced its stake in GIS by selling 533 shares or 0.42% in the most recent quarter. The Hedge Fund company now holds 125,290 shares of GIS which is valued at $8.1 Million. General Mills makes up approx 1.76% of Beacon Financial Group’s portfolio.
On the company’s financial health, General Mills reported $0.65 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Mar 23, 2016. Analyst had a consensus of $0.62. The company had revenue of $4002.40 million for the quarter, compared to analysts expectations of $4083.56 million. The company’s revenue was down -8.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.70 EPS.
Many Wall Street Analysts have commented on General Mills. Company shares were Reiterated by Stifel on Mar 24, 2016 to “Buy”, Firm has raised the Price Target to $ 66 from a previous price target of $61 .
General Mills closed down -0.42 points or -0.66% at $62.88 with 32,95,866 shares getting traded on Monday. Post opening the session at $63.42, the shares hit an intraday low of $62.71 and an intraday high of $63.68 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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.