Gavekal Capital Lowers stake in General Mills (GIS)

General Mills (GIS) : Gavekal Capital reduced its stake in General Mills by 51.39% during the most recent quarter end. The investment management company now holds a total of 132,802 shares of General Mills which is valued at $8,204,508 after selling 140,375 shares in General Mills , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.General Mills makes up approximately 2.80% of Gavekal Capital’s portfolio.

Other Hedge Funds, Including , Patten Patten Inctn reduced its stake in GIS by selling 2,039 shares or 18.35% in the most recent quarter. The Hedge Fund company now holds 9,071 shares of GIS which is valued at $561,948. General Mills makes up approx 0.07% of Patten Patten Inctn’s portfolio.Pacwest Financial Management Inc boosted its stake in GIS in the latest quarter, The investment management firm added 1,800 additional shares and now holds a total of 31,096 shares of General Mills which is valued at $1,941,634. General Mills makes up approx 1.19% of Pacwest Financial Management Inc’s portfolio.

General Mills closed down -0.44 points or -0.71% at $61.78 with 33,37,151 shares getting traded on Friday. Post opening the session at $62.42, the shares hit an intraday low of $61.73 and an intraday high of $62.48 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, General Mills reported $0.78 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Sep 21, 2016. Analyst had a consensus of $0.75. The company had revenue of $3900.00 million for the quarter, compared to analysts expectations of $3915.06 million. The company’s revenue was down -7.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.79 EPS.

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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