Sawgrass Asset Management Lowers stake in General Mills (GIS)

General Mills (GIS) : Sawgrass Asset Management reduced its stake in General Mills by 20.86% during the most recent quarter end. The investment management company now holds a total of 682,604 shares of General Mills which is valued at $47,632,107 after selling 179,970 shares in General Mills , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.General Mills makes up approximately 2.17% of Sawgrass Asset Management’s portfolio.

Other Hedge Funds, Including , Her Majesty The Queen In Right Of The Province Of Alberta… boosted its stake in GIS in the latest quarter, The investment management firm added 180,300 additional shares and now holds a total of 376,800 shares of General Mills which is valued at $26,293,104. General Mills makes up approx 0.33% of Her Majesty The Queen In Right Of The Province Of Alberta…’s portfolio.Seaward Management Limited Partnership reduced its stake in GIS by selling 250 shares or 1.47% in the most recent quarter. The Hedge Fund company now holds 16,782 shares of GIS which is valued at $1,183,970. General Mills makes up approx 0.06% of Seaward Management Limited Partnership’s portfolio.Nisa Investment Advisors boosted its stake in GIS in the latest quarter, The investment management firm added 6,235 additional shares and now holds a total of 263,837 shares of General Mills which is valued at $19,070,138. General Mills makes up approx 0.25% of Nisa Investment Advisors’s portfolio.Murphy Pohlad Asset Management reduced its stake in GIS by selling 495 shares or 1.36% in the most recent quarter. The Hedge Fund company now holds 35,946 shares of GIS which is valued at $2,585,955. General Mills makes up approx 1.87% of Murphy Pohlad Asset Management’s portfolio.

General Mills opened for trading at $70.49 and hit $70.88 on the upside on Monday, eventually ending the session at $70.63, with a gain of 0.11% or 0.08 points. The heightened volatility saw the trading volume jump to 24,28,695 shares. Company has a market cap of $42,168 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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