Beacon Financial Group Lowers stake in General Mills (GIS)

General Mills (GIS) : Beacon Financial Group reduced its stake in General Mills by 7.72% during the most recent quarter end. The investment management company now holds a total of 115,300 shares of General Mills which is valued at $7,190,108 after selling 9,645 shares in General Mills , the firm said in a disclosure report filed with the SEC on Oct 3, 2016.General Mills makes up approximately 1.51% of Beacon Financial Group’s portfolio.

Other Hedge Funds, Including , Lvm Capital Management Ltdmi boosted its stake in GIS in the latest quarter, The investment management firm added 2,094 additional shares and now holds a total of 8,848 shares of General Mills which is valued at $551,761. General Mills makes up approx 0.17% of Lvm Capital Management Ltdmi’s portfolio.

General Mills closed down -0.83 points or -1.30% at $63.05 with 36,17,990 shares getting traded on Tuesday. Post opening the session at $63.86, the shares hit an intraday low of $62.89 and an intraday high of $63.92 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, General Mills reported $0.78 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Sep 21, 2016. Analyst had a consensus of $0.75. The company had revenue of $3900.00 million for the quarter, compared to analysts expectations of $3915.06 million. The company’s revenue was down -7.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.79 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 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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