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

Exchange Traded Concepts LLC boosted its holdings in General Mills, Inc. (NYSE:GIS) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,867 shares of the company’s stock after acquiring an additional 490 shares during the quarter. Exchange Traded Concepts LLC’s holdings in General Mills were worth $926,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GIS. Garde Capital Inc. boosted its position in General Mills by 101.5% in the second quarter. Garde Capital Inc. now owns 524 shares of the company’s stock valued at $27,000 after buying an additional 264 shares in the last quarter. Perkins Coie Trust Co raised its holdings in General Mills by 69.2% in the first quarter. Perkins Coie Trust Co now owns 516 shares of the company’s stock worth $31,000 after purchasing an additional 211 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in General Mills in the first quarter worth $34,000. GKV Capital Management Co. Inc. bought a new stake in shares of General Mills during the first quarter worth $34,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of General Mills during the first quarter worth $37,000. Institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada raised shares of General Mills from a “sector perform” rating to an “outperform” rating and decreased their target price for the company from $67.00 to $63.00 in a research report on Thursday, June 26th. Barclays dropped their price objective on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, September 19th. Wall Street Zen upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Bank of America decreased their target price on shares of General Mills from $63.00 to $61.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Finally, Wells Fargo & Company set a $53.00 price target on shares of General Mills and gave the company an “equal weight” rating in a report on Thursday, June 26th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.82.

General Mills Stock Performance

Shares of GIS stock opened at $50.53 on Wednesday. The firm has a market capitalization 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 firm has a fifty day simple moving average of $49.77 and a two-hundred day simple moving average of $53.60. 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 announced its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The business had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.52 billion. During the same quarter in the previous year, the business posted $1.07 EPS. General Mills’s quarterly revenue was down 6.8% on a year-over-year basis. Analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

Insider Activity

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

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.