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M&T Bank Corp Reduces Stock Holdings in General Mills, Inc. $GIS
M&T Bank Corp significantly reduced its stake in General Mills, Inc. by 67.1% in the fourth quarter, selling 127,976 shares and retaining 62,883 shares valued at $2.924 million. This reduction comes as General Mills missed quarterly earnings and revenue estimates, reporting $0.64 EPS against an expected $0.73 and $4.44 billion in revenue against $4.53 billion. Consequently, several analysts have downgraded the stock and lowered price targets, contributing to a consensus “Reduce” rating with a target price of $43.22.