Meadow Creek Investment Management LLC decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 2.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 34,544 shares of the company’s stock after selling 884 shares during the period. Meadow Creek Investment Management LLC’s holdings in General Mills were worth $1,814,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of General Mills by 1.1% in the 1st quarter. BlackRock Inc. now owns 41,345,362 shares of the company’s stock valued at $2,139,622,000 after acquiring an additional 435,121 shares during the period. Northern Trust Corp raised its stake in shares of General Mills by 2.8% in the 1st quarter. Northern Trust Corp now owns 7,590,022 shares of the company’s stock valued at $392,784,000 after acquiring an additional 210,135 shares during the period. Geode Capital Management LLC raised its stake in shares of General Mills by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 7,230,663 shares of the company’s stock valued at $281,036,000 after acquiring an additional 473,831 shares during the period. Renaissance Technologies LLC raised its stake in shares of General Mills by 44.6% in the 2nd quarter. Renaissance Technologies LLC now owns 5,313,884 shares of the company’s stock valued at $279,085,000 after acquiring an additional 1,639,900 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of General Mills by 3.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,750,965 shares of the company’s stock valued at $249,521,000 after acquiring an additional 154,410 shares during the period. 68.97% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on GIS. Morgan Stanley raised their target price on shares of General Mills from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, June 27th. Guggenheim raised their price target on shares of General Mills from $58.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Bank of America reissued a “neutral” rating and set a $49.00 price objective on shares of General Mills in a report on Friday, May 17th. Goldman Sachs Group lowered shares of General Mills from a “neutral” rating to a “sell” rating and set a $41.00 price target for the company. in a report on Tuesday, May 28th. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $56.00 price target on shares of General Mills in a report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $53.21.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, June 26th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the firm earned $0.79 EPS. General Mills’s revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts predict that General Mills, Inc. will post 3.37 earnings per share for the current year.
General Mills Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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