Newfocus Financial Group buys $2,848,649 stake in General Mills (GIS)

General Mills (GIS) : Newfocus Financial Group scooped up 154 additional shares in General Mills during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 40,332 shares of General Mills which is valued at $2,848,649.General Mills makes up approximately 2.02% of Newfocus Financial Group’s portfolio.

Other Hedge Funds, Including , Welch Group reduced its stake in GIS by selling 63,086 shares or 21.74% in the most recent quarter. The Hedge Fund company now holds 227,040 shares of GIS which is valued at $16,321,906. General Mills makes up approx 3.28% of Welch Group’s portfolio.Daiwa Securities Group reduced its stake in GIS by selling 10,400 shares or 42.28% in the most recent quarter. The Hedge Fund company now holds 14,200 shares of GIS which is valued at $1,001,810. General Mills makes up approx 0.01% of Daiwa Securities Group’s portfolio.

General Mills opened for trading at $70.51 and hit $70.8699 on the upside on Wednesday, eventually ending the session at $70.56, with a gain of 0.09% or 0.06 points. The heightened volatility saw the trading volume jump to 39,23,300 shares. Company has a market cap of $42,126 M.

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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