General Mills, Inc. (GIS) Stock is Down in Pre-market Despite Reported Rise in Profits


Whether it is Cheerios, Yoplait Yogurt, or Bugles that you love indulging your taste buds with, the majority of us living in the United States eat at least a handful of General Mills, Inc. (NYSE:GIS) products on a weekly basis. Yesterday, the company which was founded way back in 1928, released their fiscal 2016 Q2 results.

General Mills, Inc. (NYSE:GIS) reported a deline in net sales by 6% to $4.42 billion — just 2% on a constant-currency basis though. Diluted earnings per share (EPS) came in at an impressive $0.87 per share compared to last years $0.56. Profit in the quarter rose as the company used many cost reductions. However, earnings did fall short of analyst’s expectations and the company reduced its outlook for 2016. This has caused mixed opinions by investors in pre-market trading as shares of General Mills, Inc. (NYSE:GIS) are up just 0.02% this morning.

The stock decreased 0.02% or $0.01 on December 17, hitting $59.18. Approximately 8,111 shares traded hands. GIS shares have risen 4.13% since May 14, 2015 and are currently uptrending. It has outperformed the S&P500 by 6.76%.

From a total of 6 analysts covering General Mills Inc. (NYSE:GIS) stock, 1 rate it a “Buy”, 0 a “Sell”, and 5 a “Hold”. This means that 17% of the ratings are positive. The highest target price is $65 while the lowest target price is $56. The mean of all analyst targets is $58.75 which is -0.73% below today’s ($59.18) stock price. General Mills Inc. was the topic of 8 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on December 7 with a “Outperform” rating. Susquehanna initiated GIS stock in a recent report from October 26 with a “Neutral” rating.

The institutional sentiment increased to 1.08 in Q2 2015. It’s up 0.17, from 0.91 in 2015Q2. The ratio increased, as 48 funds sold all their General Mills, Inc. shares they owned while 371 reduced their positions. 88 funds bought stakes while 366 increased their total positions. Institutions now own 417.04 million shares which is 3.94% more than the previous share count of 401.23 million in 2015Q2.

Montgomery Investment Management Inc holds 13.02% of its total portfolio in General Mills, Inc., equating to 393,195 shares. Cincinnati Indemnity Co owns 26,000 shares representing 7.18% of their total US portfolio. Moreover, Cincinnati Casualty Co has 5.88% of their total portfolio invested in the company, equating to 82,000 shares. The Colorado-based Gavekal Capital Llc has a total of 4.75% of their portfolio invested in the stock. Nepsis Capital Management Inc., a Minnesota-based fund reported 140,119 shares owned.

Since March 31, 2015, the stock had 0 insider purchases, and 7 sales for a total of $27.78 million in net activity. Erickson Peter C sold 60,000 shares worth $3.56 million. Nelson Kimberly A sold 80,626 shares worth $4.78M. Ogrady Shawn P sold 124,800 shares worth $7.33M. Oleary Christopher D sold 187,500 shares worth $10.64 million. The insider Mulligan Donal L sold 12,000 shares worth $688,560.

General Mills, Inc. is a manufacturer and marketer of branded consumer foods sold through retail stores. The company has a market cap of $35.38 billion. The Firm is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. It has 27.97 P/E ratio. The Firm is organized into three operating divisions: U.S.