Contravisory Investment Management Lowers stake in General Mills (GIS)

General Mills (GIS) : Contravisory Investment Management reduced its stake in General Mills by 6.91% during the most recent quarter end. The investment management company now holds a total of 145,071 shares of General Mills which is valued at $10,436,408 after selling 10,765 shares in General Mills , the firm said in a disclosure report filed with the SEC on Jul 13, 2016.General Mills makes up approximately 3.16% of Contravisory Investment Management’s portfolio.

Other Hedge Funds, Including , Capstone Asset Management Co boosted its stake in GIS in the latest quarter, The investment management firm added 3,813 additional shares and now holds a total of 228,445 shares of General Mills which is valued at $16,434,333. General Mills makes up approx 0.48% of Capstone Asset Management Co’s portfolio.Atria Investments boosted its stake in GIS in the latest quarter, The investment management firm added 3,009 additional shares and now holds a total of 22,564 shares of General Mills which is valued at $1,623,254. General Mills makes up approx 0.17% of Atria Investments’s portfolio.Firstmerit Bank N A Trustee reduced its stake in GIS by selling 523 shares or 2.64% in the most recent quarter. The Hedge Fund company now holds 19,286 shares of GIS which is valued at $1,387,435. General Mills makes up approx 0.11% of Firstmerit Bank N A Trustee’s portfolio.Ct Mason reduced its stake in GIS by selling 536 shares or 0.77% in the most recent quarter. The Hedge Fund company now holds 69,443 shares of GIS which is valued at $5,031,840. General Mills makes up approx 2.10% of Ct Mason’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in GIS in the latest quarter, The investment management firm added 9,396 additional shares and now holds a total of 153,861 shares of General Mills which is valued at $11,148,768. General Mills makes up approx 0.23% of Exxonmobil Investment Management Inc Tx’s portfolio.

General Mills opened for trading at $72.19 and hit $72.4 on the upside on Monday, eventually ending the session at $72.28, with a gain of 0.36% or 0.26 points. The heightened volatility saw the trading volume jump to 22,17,280 shares. Company has a market cap of $43,153 M.

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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