MML Investors Services LLC decreased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 9.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,138 shares of the company’s stock after selling 10,759 shares during the period. MML Investors Services LLC’s holdings in General Mills were worth $5,679,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Westside Investment Management Inc. acquired a new position in General Mills during the second quarter worth $5,185,000. Krane Funds Advisors LLC acquired a new position in General Mills during the second quarter worth $25,000. Employers Holdings Inc. acquired a new position in General Mills during the second quarter worth $32,000. NuWave Investment Management LLC raised its holdings in General Mills by 377.4% during the second quarter. NuWave Investment Management LLC now owns 635 shares of the company’s stock worth $33,000 after buying an additional 502 shares during the last quarter. Finally, Certified Advisory Corp raised its holdings in shares of General Mills by 100.9% in the first quarter. Certified Advisory Corp now owns 643 shares of the company’s stock valued at $33,000 after purchasing an additional 323 shares during the last quarter. Hedge funds and other institutional investors own 68.97% of the company’s stock.
Several brokerages have recently commented on GIS. Guggenheim increased their target price 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. Evercore ISI began coverage on shares of General Mills in a report on Tuesday, June 11th. They issued an “in-line” rating and a $56.00 target price for the company. Zacks Investment Research upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Thursday, August 22nd. UBS Group increased their target price on shares of General Mills from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, June 27th. Finally, Morgan Stanley increased their target price on shares of General Mills from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $53.21.
GIS traded up $0.10 during trading on Thursday, hitting $54.42. 104,026 shares of the company traded hands, compared to its average volume of 4,285,208. The firm has a market cap of $33.06 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74. The stock’s fifty day moving average is $53.98 and its 200 day moving average is $51.85. The company has a quick ratio of 0.37, a current ratio of 0.59 and a debt-to-equity ratio of 1.58. General Mills, Inc. has a one year low of $36.42 and a one year high of $56.40.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 26th. The company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.07. The company had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.24 billion. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 earnings per share. On average, equities research analysts forecast that General Mills, Inc. will post 3.37 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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