Berkshire Asset Managementpa Lowers stake in General Mills (GIS)

General Mills (GIS) : Berkshire Asset Managementpa reduced its stake in General Mills by 3.87% during the most recent quarter end. The investment management company now holds a total of 295,877 shares of General Mills which is valued at $21,214,381 after selling 11,921 shares in General Mills , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.General Mills makes up approximately 3.14% of Berkshire Asset Managementpa’s portfolio.

Other Hedge Funds, Including , Nikko Asset Management Americas reduced its stake in GIS by selling 3,400 shares or 52.31% in the most recent quarter. The Hedge Fund company now holds 3,100 shares of GIS which is valued at $222,270. General Mills makes up approx 0.02% of Nikko Asset Management Americas’s portfolio. Hengehold Capital Management sold out all of its stake in GIS during the most recent quarter. The investment firm sold 37,150 shares of GIS which is valued $2,663,655.Cape Cod Five Cents Savings Bank reduced its stake in GIS by selling 1,272 shares or 1.54% in the most recent quarter. The Hedge Fund company now holds 81,554 shares of GIS which is valued at $5,873,519. General Mills makes up approx 1.05% of Cape Cod Five Cents Savings Bank’s portfolio.Dalton Greiner Hartman Maher Co reduced its stake in GIS by selling 19,894 shares or 7.75% in the most recent quarter. The Hedge Fund company now holds 236,792 shares of GIS which is valued at $17,034,816. General Mills makes up approx 1.02% of Dalton Greiner Hartman Maher Co’s portfolio.Palisade Asset Management reduced its stake in GIS by selling 250 shares or 0.62% in the most recent quarter. The Hedge Fund company now holds 40,004 shares of GIS which is valued at $2,877,888. General Mills makes up approx 0.54% of Palisade Asset Management’s portfolio.

General Mills closed down -0.94 points or -1.29% at $71.7 with 28,40,969 shares getting traded on Wednesday. Post opening the session at $72.65, the shares hit an intraday low of $71.64 and an intraday high of $72.7 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, General Mills reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jun 29, 2016. Analyst had a consensus of $0.60. The company had revenue of $3928.00 million for the quarter, compared to analysts expectations of $3860.63 million. The company’s revenue was down -8.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.75 EPS.

Many Wall Street Analysts have commented on General Mills. Company shares were Reiterated by UBS on Jul 6, 2016 to “Neutral”, Firm has raised the Price Target to $ 71 from a previous price target of $60 .General Mills was Upgraded by BofA/Merrill to ” Neutral” on Jun 30, 2016. Company shares were Reiterated by RBC Capital Mkts on Jun 30, 2016 to “Outperform”, Firm has raised the Price Target to $ 73 from a previous price target of $70 .

General Mills Inc. is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S. Retail International and Convenience Stores and Foodservice. The Company offers a range of food products with a focus on five categories: ready-to-eat cereal; convenient meals including meal kits ethnic meals pizza soup side dish mixes frozen breakfast and frozen entrees; snacks including grain fruit and savory snacks nutrition bars and frozen hot snacks; yogurt and super-premium ice cream. The Company’s other product categories include baking mixes and ingredients; refrigerated and frozen dough and frozen and shelf-stable vegetables. The Company has 50% interests in two joint ventures that manufacture and market food products.

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