DJE Kapital AG acquired a new stake in General Mills, Inc. (NYSE:GIS – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 85,941 shares of the company’s stock, valued at approximately $3,194,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cassaday & Co Wealth Management LLC acquired a new position in General Mills during the first quarter worth about $32,000. Carson Advisory Inc. increased its stake in shares of General Mills by 155.1% during the 1st quarter. Carson Advisory Inc. now owns 16,860 shares of the company’s stock worth $628,000 after purchasing an additional 10,250 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of General Mills by 2.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,672,503 shares of the company’s stock worth $248,344,000 after purchasing an additional 143,265 shares in the last quarter. Scarborough Advisors LLC purchased a new position in shares of General Mills during the 1st quarter worth approximately $34,000. Finally, KBC Group NV raised its position in shares of General Mills by 40.5% during the 1st quarter. KBC Group NV now owns 771,730 shares of the company’s stock worth $28,724,000 after purchasing an additional 222,602 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on GIS shares. TD Cowen lowered their target price on General Mills from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday, July 2nd. BNP Paribas Exane boosted their price target on General Mills from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. UBS Group set a $33.00 price objective on General Mills in a research report on Monday, July 6th. Sanford C. Bernstein lowered General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a research note on Wednesday, June 3rd. Finally, Barclays dropped their price objective on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $39.16.
Insiders Place Their Bets
In related news, insider Ricardo Fernandez sold 7,995 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the transaction, the insider directly owned 62,283 shares of the company’s stock, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the transaction, the insider owned 86,002 shares in the company, valued at $2,947,288.54. The trade was a 10.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.30% of the company’s stock.
General Mills Price Performance
GIS opened at $37.64 on Tuesday. The company’s 50 day simple moving average is $34.73 and its 200 day simple moving average is $38.94. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $51.68. The stock has a market capitalization of $20.09 billion, a PE ratio of -209.11 and a beta of -0.03.
General Mills (NYSE:GIS – Get Free Report) last released its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.15. The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. General Mills’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, sell-side analysts expect that General Mills, Inc. will post 3.07 EPS for the current year.
General Mills Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Friday, July 10th. General Mills’s dividend payout ratio is presently -1,355.56%.
About General Mills
General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.
Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.
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