Cape Ann Savings Bank Lowers stake in General Mills (GIS)

General Mills (GIS) : Cape Ann Savings Bank reduced its stake in General Mills by 11.88% during the most recent quarter end. The investment management company now holds a total of 5,973 shares of General Mills which is valued at $428,264 after selling 805 shares in General Mills , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.General Mills makes up approximately 0.57% of Cape Ann Savings Bank’s portfolio.

Other Hedge Funds, Including , First National Bank Of Omaha reduced its stake in GIS by selling 6,581 shares or 46.75% in the most recent quarter. The Hedge Fund company now holds 7,495 shares of GIS which is valued at $537,392. General Mills makes up approx 0.04% of First National Bank Of Omaha’s portfolio.Davis R M Inc reduced its stake in GIS by selling 94 shares or 2.0% in the most recent quarter. The Hedge Fund company now holds 4,616 shares of GIS which is valued at $333,644. General Mills makes up approx 0.02% of Davis R M Inc’s portfolio.Loring Wolcott Coolidge Fiduciary Advisors Llpma boosted its stake in GIS in the latest quarter, The investment management firm added 635 additional shares and now holds a total of 82,102 shares of General Mills which is valued at $5,906,418. General Mills makes up approx 0.13% of Loring Wolcott Coolidge Fiduciary Advisors Llpma’s portfolio.Hollencrest Securities reduced its stake in GIS by selling 6,541 shares or 64.78% in the most recent quarter. The Hedge Fund company now holds 3,556 shares of GIS which is valued at $257,668. General Mills makes up approx 0.04% of Hollencrest Securities’s portfolio.Mazama Capital Management Inc boosted its stake in GIS in the latest quarter, The investment management firm added 4,146 additional shares and now holds a total of 38,790 shares of General Mills which is valued at $2,810,723. General Mills makes up approx 0.55% of Mazama Capital Management Inc’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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