Published: Thu, December 21, 2017
Markets | By Erika Turner

ARGI Investment Services LLC Grows Holdings in General Mills, Inc. (GIS)

ARGI Investment Services LLC Grows Holdings in General Mills, Inc. (GIS)

(NYSE:GIS) by 72.8% in the third quarter, according to its most recent filing with the SEC. North Tide Capital Llc sold 4.01M shares as the company's stock declined 4.59% while stock markets rallied. It increased, as 73 investors sold GIS shares while 363 reduced holdings. The company had revenue of $4.20 billion during the quarter, compared to analysts' expectations of $4.08 billion. During the first six months of 2018, General Mills repurchased 10.9 million shares of common stock for a total of $600 million. Finally, Morgan Stanley raised its holdings in shares of General Mills by 29.4% in the 1st quarter.

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General Mills credited the increase in US cereal sales during the second quarter to strong demand for its new Chocolate Peanut Butter Cheerios product and to positive performances by its iconic Lucky Charms, Cinnamon Toast Crunch, Reese's Puffs, and Cocoa Puffs brands. (NYSE:GIS). Wesbanco Financial Bank has 0.46% invested in General Mills, Inc. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company's stock worth $102,000 after buying an additional 15 shares during the period.

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The company now has an insider ownership of 0.3 Percent and Institutional ownership of 75.8 Percent. General Mills Inc. had 60 analyst reports since July 21, 2015 according to SRatingsIntel. (NYSE:GIS). Envestnet Asset Mgmt reported 134,154 shares stake. The company has a current ratio of 0.74, a quick ratio of 0.47 and a debt-to-equity ratio of 1.83. The company has a market cap of $32,849.96, a price-to-earnings ratio of 19.20, a P/E/G ratio of 2.15 and a beta of 0.66. Diluted EPS of $0.74 declined 8 percent, with lower net earnings offset by 3 percent fewer average diluted shares outstanding. Revenue rose 2 percent to $4.20 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. Diluted EPS of $1.43 declined 3 percent from the prior year. Lenox Wealth Advisors Inc. grew its stake in General Mills by 0.8% during the second quarter.

Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of General Mills from a "sell" rating to a "hold" rating in a report on Tuesday. (NYSE:GIS) opened at $57.63 on Wednesday. Susquehanna Bancshares set a $57.00 price target on shares of General Mills and gave the company a "hold" rating in a report on Wednesday, December 13th. The stock of Starbucks Corporation (NASDAQ:SBUX) earned "Hold" rating by Stephens on Friday, July 28.

WARNING: This piece was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this piece of content on another domain, it was illegally stolen and republished in violation of US & global copyright legislation. The legal version of this article can be viewed at General Mills, Inc. (NYSE:GIS) has a 20-Day average volume of 4.22 Million. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries.

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