General Mills (GIS) : First City Capital Management reduced its stake in General Mills by 0.59% during the most recent quarter end. The investment management company now holds a total of 50,125 shares of General Mills which is valued at $3.2 Million after selling 300 shares in General Mills , the firm said in a disclosure report filed with the SEC on May 12, 2016.General Mills makes up approximately 2.19% of First City Capital Management’s portfolio.
Other Hedge Funds, Including , Dana Investment Advisors boosted its stake in GIS in the latest quarter, The investment management firm added 26,324 additional shares and now holds a total of 150,761 shares of General Mills which is valued at $9.7 Million. General Mills makes up approx 0.45% of Dana Investment Advisors’s portfolio.Amalgamated Bank boosted its stake in GIS in the latest quarter, The investment management firm added 5,612 additional shares and now holds a total of 23,664 shares of General Mills which is valued at $1.5 Million. General Mills makes up approx 0.15% of Amalgamated Bank’s portfolio.Coconut Grove Bank boosted its stake in GIS in the latest quarter, The investment management firm added 638 additional shares and now holds a total of 9,972 shares of General Mills which is valued at $643,393. General Mills makes up approx 0.59% of Coconut Grove Bank’s portfolio.
General Mills closed down -0.47 points or -0.75% at $62.45 with 33,13,346 shares getting traded on Friday. Post opening the session at $62.91, the shares hit an intraday low of $62.28 and an intraday high of $62.91 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
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 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.