Investment Centers of America Inc. cut its holdings in shares of General Mills, Inc. (NYSE:GIS) by 17.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,655 shares of the company’s stock after selling 5,088 shares during the quarter. Investment Centers of America Inc.’s holdings in General Mills were worth $1,220,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in General Mills by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 39,968,232 shares of the company’s stock worth $2,214,240,000 after acquiring an additional 533,919 shares during the period. American Century Companies Inc. boosted its position in General Mills by 15.9% during the 3rd quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock worth $584,665,000 after acquiring an additional 1,550,074 shares during the period. American International Group Inc. boosted its position in General Mills by 1,708.4% during the 3rd quarter. American International Group Inc. now owns 9,027,740 shares of the company’s stock worth $467,276,000 after acquiring an additional 8,528,534 shares during the period. Bank of New York Mellon Corp boosted its position in General Mills by 13.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,490,175 shares of the company’s stock worth $387,691,000 after acquiring an additional 890,262 shares during the period. Finally, Morgan Stanley boosted its position in General Mills by 29.4% during the 1st quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock worth $416,318,000 after acquiring an additional 1,603,577 shares during the period. Hedge funds and other institutional investors own 72.78% of the company’s stock.

Shares of General Mills, Inc. (NYSE:GIS) opened at $56.89 on Friday. General Mills, Inc. has a 1-year low of $49.65 and a 1-year high of $63.74. The company has a quick ratio of 0.47, a current ratio of 0.74 and a debt-to-equity ratio of 1.83. The firm has a market capitalization of $32,332.80, a P/E ratio of 18.90, a P/E/G ratio of 2.12 and a beta of 0.66.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.05). General Mills had a return on equity of 39.82% and a net margin of 10.68%. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. analysts predict that General Mills, Inc. will post 3.1 earnings per share for the current year.

Several equities research analysts have recently issued reports on the company. Susquehanna Bancshares set a $57.00 price target on General Mills and gave the company a “hold” rating in a report on Wednesday. Zacks Investment Research lowered General Mills from a “hold” rating to a “sell” rating in a report on Tuesday, November 21st. Societe Generale upgraded General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Royal Bank of Canada set a $58.00 price target on General Mills and gave the company a “hold” rating in a report on Monday, October 23rd. Finally, Jefferies Group assumed coverage on General Mills in a report on Friday, October 20th. They set a “hold” rating and a $56.00 price target for the company. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. General Mills presently has an average rating of “Hold” and an average target price of $56.66.

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About General Mills

General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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