Beese Fulmer Investment Management Lowers stake in General Mills (GIS)

General Mills (GIS) : Beese Fulmer Investment Management reduced its stake in General Mills by 1.46% during the most recent quarter end. The investment management company now holds a total of 58,604 shares of General Mills which is valued at $4,089,387 after selling 870 shares in General Mills , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.General Mills makes up approximately 1.14% of Beese Fulmer Investment Management’s portfolio.

Other Hedge Funds, Including , Aberdeen Asset Management Plcuk reduced its stake in GIS by selling 3,577 shares or 1.26% in the most recent quarter. The Hedge Fund company now holds 281,110 shares of GIS which is valued at $19,615,856. General Mills makes up approx 0.07% of Aberdeen Asset Management Plcuk’s portfolio.Puplava Financial Services reduced its stake in GIS by selling 45,111 shares or 79.94% in the most recent quarter. The Hedge Fund company now holds 11,321 shares of GIS which is valued at $818,282. General Mills makes up approx 0.47% of Puplava Financial Services’s portfolio.New England Research Management reduced its stake in GIS by selling 1,800 shares or 21.3% in the most recent quarter. The Hedge Fund company now holds 6,650 shares of GIS which is valued at $479,532. General Mills makes up approx 0.42% of New England Research Management’s portfolio.

General Mills opened for trading at $70 and hit $70.51 on the upside on Thursday, eventually ending the session at $70.49, with a gain of 1.02% or 0.71 points. The heightened volatility saw the trading volume jump to 42,34,666 shares. Company has a market cap of $42,084 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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