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Fifth Third Bancorp Acquires 50,822 Shares of General Mills, Inc. $GIS
Fifth Third Bancorp significantly increased its stake in General Mills (NYSE:GIS) during the fourth quarter, purchasing an additional 50,822 shares to bring its total holdings to 87,060 shares valued at approximately $4.05 million. This increased ownership comes as General Mills reported a Q4 earnings miss, with EPS of $0.64 against an expected $0.73, and revenue of $4.44 billion, down 8.4% year-over-year. Analysts have since revised their price targets downward, resulting in a consensus “Reduce” rating for the stock.