Great Lakes Advisors buys $55.9 Million stake in General Mills (GIS)

General Mills (GIS) : Great Lakes Advisors scooped up 3,274 additional shares in General Mills during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 866,495 shares of General Mills which is valued at $55.9 Million.General Mills makes up approximately 1.54% of Great Lakes Advisors’s portfolio.

Other Hedge Funds, Including , Jefferies Group boosted its stake in GIS in the latest quarter, The investment management firm added 122 additional shares and now holds a total of 4,245 shares of General Mills which is valued at $273,887. General Mills makes up approx 0.01% of Jefferies Group’s portfolio.Sky Investment Group reduced its stake in GIS by selling 23 shares or 0.03% in the most recent quarter. The Hedge Fund company now holds 76,476 shares of GIS which is valued at $4.9 Million. General Mills makes up approx 2.43% of Sky Investment Group’s portfolio.Ariel Capital Advisors boosted its stake in GIS in the latest quarter, The investment management firm added 34 additional shares and now holds a total of 34,939 shares of General Mills which is valued at $2.2 Million. General Mills makes up approx 1.89% of Ariel Capital Advisors’s portfolio.Callahan Advisors boosted its stake in GIS in the latest quarter, The investment management firm added 4,021 additional shares and now holds a total of 64,378 shares of General Mills which is valued at $3.9 Million. General Mills makes up approx 1.09% of Callahan Advisors’s portfolio. Sawtooth Asset Management sold out all of its stake in GIS during the most recent quarter. The investment firm sold 7,662 shares of GIS which is valued $469,987.

General Mills opened for trading at $64.39 and hit $64.79 on the upside on Monday, eventually ending the session at $64.57, with a gain of 0.08% or 0.05 points. The heightened volatility saw the trading volume jump to 22,74,759 shares. Company has a market cap of $38,381 M.

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.

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