First Fiduciary Investment Counsel Inc. grew its holdings in General Mills, Inc. (NYSE:GIS) by 18.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 239,948 shares of the company’s stock after acquiring an additional 37,610 shares during the period. General Mills comprises about 2.0% of First Fiduciary Investment Counsel Inc.’s investment portfolio, making the stock its 29th biggest position. First Fiduciary Investment Counsel Inc.’s holdings in General Mills were worth $10,620,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in GIS. HPM Partners LLC lifted its position in shares of General Mills by 18.6% in the second quarter. HPM Partners LLC now owns 29,365 shares of the company’s stock worth $1,300,000 after buying an additional 4,612 shares in the last quarter. Cozad Asset Management Inc. purchased a new stake in shares of General Mills in the second quarter worth about $1,347,000. Moneta Group Investment Advisors LLC lifted its position in shares of General Mills by 145.6% in the second quarter. Moneta Group Investment Advisors LLC now owns 15,956 shares of the company’s stock worth $706,000 after buying an additional 9,458 shares in the last quarter. Worldquant Millennium Quantitative Strategies LLC purchased a new stake in shares of General Mills in the second quarter worth about $3,307,000. Finally, Centaurus Financial Inc. lifted its position in shares of General Mills by 324.2% in the second quarter. Centaurus Financial Inc. now owns 15,924 shares of the company’s stock worth $705,000 after buying an additional 12,170 shares in the last quarter. Institutional investors and hedge funds own 70.62% of the company’s stock.
A number of equities research analysts recently commented on the company. Zacks Investment Research downgraded General Mills from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Bank of America reiterated a “hold” rating and issued a $49.00 target price on shares of General Mills in a research report on Wednesday, June 27th. ValuEngine upgraded General Mills from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. Goldman Sachs Group reiterated a “neutral” rating and issued a $47.00 target price on shares of General Mills in a research report on Thursday, May 31st. Finally, Susquehanna Bancshares set a $50.00 target price on General Mills and gave the stock a “buy” rating in a research report on Monday, May 21st. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the stock. General Mills presently has a consensus rating of “Hold” and an average price target of $50.71.
Shares of NYSE GIS opened at $47.59 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.34 and a debt-to-equity ratio of 1.95. General Mills, Inc. has a 1-year low of $41.01 and a 1-year high of $60.69. The company has a market cap of $28.31 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.83 and a beta of 0.74.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, June 27th. The company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.07. General Mills had a return on equity of 35.14% and a net margin of 13.54%. The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. analysts predict that General Mills, Inc. will post 3.05 EPS for the current fiscal year.
About General Mills
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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