Pinnacle Financial Partners Inc. Has $1.17 Million Position in General Mills, Inc. (NYSE:GIS)

Pinnacle Financial Partners Inc. cut its position in General Mills, Inc. (NYSE:GIS) by 2.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,286 shares of the company’s stock after selling 578 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in General Mills were worth $1,170,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bragg Financial Advisors Inc raised its stake in General Mills by 1.0% in the first quarter. Bragg Financial Advisors Inc now owns 36,123 shares of the company’s stock valued at $1,869,000 after purchasing an additional 345 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of General Mills by 58.0% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 161,292 shares of the company’s stock valued at $8,347,000 after purchasing an additional 59,204 shares in the last quarter. Chesley Taft & Associates LLC boosted its holdings in shares of General Mills by 2.3% in the 2nd quarter. Chesley Taft & Associates LLC now owns 26,905 shares of the company’s stock valued at $1,413,000 after purchasing an additional 600 shares in the last quarter. Private Ocean LLC increased its stake in shares of General Mills by 585.4% in the 1st quarter. Private Ocean LLC now owns 1,405 shares of the company’s stock valued at $73,000 after purchasing an additional 1,200 shares during the last quarter. Finally, BBT Capital Management LLC bought a new position in shares of General Mills in the 2nd quarter valued at $266,000. Institutional investors and hedge funds own 68.97% of the company’s stock.

GIS traded up $0.07 on Wednesday, reaching $54.60. The stock had a trading volume of 139,216 shares, compared to its average volume of 3,366,674. General Mills, Inc. has a fifty-two week low of $36.42 and a fifty-two week high of $56.40. The firm has a 50-day moving average of $53.93 and a 200-day moving average of $51.81. The company has a current ratio of 0.59, a quick ratio of 0.37 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $33.55 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 2.36 and a beta of 0.74.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 26th. The company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.07. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.24 billion. General Mills had a return on equity of 27.67% and a net margin of 10.39%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.79 earnings per share. Sell-side analysts anticipate that General Mills, Inc. will post 3.37 EPS for the current fiscal year.

Several analysts recently weighed in on the company. Bank of America restated a “neutral” rating and set a $49.00 price objective on shares of General Mills in a research report on Friday, May 17th. Goldman Sachs Group cut General Mills from a “neutral” rating to a “sell” rating and set a $41.00 target price on the stock. in a research report on Tuesday, May 28th. Morgan Stanley lifted their target price on General Mills from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, June 27th. UBS Group boosted their target price on General Mills from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, June 27th. Finally, Piper Jaffray Companies increased their target price on shares of General Mills from $50.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. General Mills currently has a consensus rating of “Hold” and a consensus target price of $52.98.

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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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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