Everett Harris & Co. CA Makes New $502,000 Investment in General Mills, Inc. $GIS

Everett Harris & Co. CA purchased a new stake in General Mills, Inc. (NYSE:GIS – Free Report) in the second quarter, HoldingsChannel reports. The firm purchased 14,412 shares of the company’s stock, valued at approximately $502,000.

Several other institutional investors have also made changes to their positions in GIS. Norges Bank acquired a new stake in General Mills during the fourth quarter worth approximately $361,552,000. Wellington Management Group LLP raised its holdings in General Mills by 2,970.1% in the 4th quarter. Wellington Management Group LLP now owns 7,466,693 shares of the company’s stock valued at $347,201,000 after acquiring an additional 7,223,487 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of General Mills by 366.1% during the 4th quarter. AQR Capital Management LLC now owns 5,117,287 shares of the company’s stock valued at $237,954,000 after acquiring an additional 4,019,319 shares during the period. Worldquant Millennium Advisors LLC bought a new stake in shares of General Mills during the 2nd quarter valued at $84,862,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of General Mills by 61.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,141,691 shares of the company’s stock worth $192,589,000 after purchasing an additional 1,573,444 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

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General Mills Stock Performance

General Mills stock opened at $39.23 on Friday. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $51.33. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. The business’s 50-day moving average price is $36.10 and its two-hundred day moving average price is $37.97. The stock has a market cap of $20.93 billion, a PE ratio of -217.90 and a beta of -0.03.

General Mills (NYSE:GIS – Get Free Report) last issued its earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, topping the consensus estimate 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 positive return on equity of 21.37% and a negative net margin of 0.48%.The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter 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, analysts expect that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date was Friday, July 10th. General Mills’s dividend payout ratio (DPR) is -1,355.56%.

Wall Street Analyst Weigh In

A number of research firms recently commented on GIS. Jefferies Financial Group boosted their price target on General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, July 1st. Morgan Stanley reduced their price objective on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday, June 5th. Wells Fargo & Company boosted their target price on shares of General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, July 2nd. Zacks Research upgraded shares of General Mills from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Finally, Piper Sandler decreased their price objective on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, General Mills has a consensus rating of “Reduce” and an average price target of $39.16.

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General Mills Profile

(Free Report)

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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