Exchange Traded Concepts LLC Buys 490 Shares of General Mills, Inc. $GIS

Exchange Traded Concepts LLC boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,867 shares of the company’s stock after buying an additional 490 shares during the quarter. Exchange Traded Concepts LLC’s holdings in General Mills were worth $926,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Perpetual Ltd lifted its holdings in shares of General Mills by 3.5% in the first quarter. Perpetual Ltd now owns 5,411 shares of the company’s stock worth $324,000 after buying an additional 184 shares in the last quarter. Conning Inc. grew its position in General Mills by 4.6% during the first quarter. Conning Inc. now owns 4,212 shares of the company’s stock valued at $252,000 after acquiring an additional 185 shares during the last quarter. Benjamin Edwards Inc. grew its position in General Mills by 0.4% during the first quarter. Benjamin Edwards Inc. now owns 52,298 shares of the company’s stock valued at $3,127,000 after acquiring an additional 185 shares during the last quarter. Eastern Bank grew its position in General Mills by 0.8% during the first quarter. Eastern Bank now owns 24,817 shares of the company’s stock valued at $1,484,000 after acquiring an additional 186 shares during the last quarter. Finally, SPC Financial Inc. raised its holdings in General Mills by 1.5% during the 1st quarter. SPC Financial Inc. now owns 13,452 shares of the company’s stock valued at $804,000 after buying an additional 193 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GIS has been the topic of a number of recent analyst reports. Bernstein Bank cut their price target on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a report on Thursday, September 18th. Mizuho lowered their price objective on General Mills from $57.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, September 19th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $45.00 price target (down previously from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Jefferies Financial Group lowered their price target on General Mills from $51.00 to $50.00 and set a “hold” rating for the company in a research report on Monday, September 8th. Finally, Bank of America decreased their target price on General Mills from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $55.82.

General Mills Trading Up 0.9%

Shares of NYSE:GIS opened at $50.53 on Wednesday. The stock has a 50 day moving average of $49.77 and a 200 day moving average of $53.60. The company has a market cap of $26.95 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 1.26 and a beta of -0.02. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. General Mills, Inc. has a 12-month low of $48.29 and a 12-month high of $74.98.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The firm’s revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 EPS. As a group, equities research analysts expect that General Mills, Inc. will post 4.36 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $50.04, for a total transaction of $200,160.00. Following the sale, the insider owned 66,593 shares in the company, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

General Mills Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.