OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of General Mills, Inc. (NYSE:GIS – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 332,687 shares of the company’s stock, valued at approximately $11,578,000. OVERSEA CHINESE BANKING Corp Ltd owned 0.06% of General Mills as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of GIS. Reflection Asset Management bought a new stake in General Mills in the 4th quarter valued at about $25,000. Nalls Sherbakoff Group LLC bought a new stake in General Mills during the 4th quarter valued at $26,000. Bruce G. Allen Investments LLC raised its holdings in General Mills by 139.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after buying an additional 337 shares during the last quarter. Zions Bancorporation National Association UT raised its holdings in shares of General Mills by 248.1% in the 4th quarter. Zions Bancorporation National Association UT now owns 630 shares of the company’s stock worth $29,000 after acquiring an additional 449 shares during the last quarter. Finally, Binnacle Investments Inc boosted its stake in General Mills by 312.5% during the 3rd quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
GIS has been the topic of a number of recent research reports. Bank of America raised their target price on General Mills from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Zacks Research raised shares of General Mills from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Jefferies Financial Group increased their target price on shares of General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, July 1st. Sanford C. Bernstein downgraded shares of General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price objective for the company. in a research report on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. boosted their target price on General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $39.16.
General Mills Stock Performance
NYSE:GIS opened at $39.70 on Friday. 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 52-week low of $31.75 and a 52-week high of $51.33. The firm has a market cap of $21.22 billion, a price-to-earnings ratio of -220.54 and a beta of -0.03. The business’s fifty day moving average is $36.53 and its 200 day moving average is $37.75.
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. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. During the same quarter last year, the company earned $0.53 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Research analysts predict that General Mills, Inc. will post 3.07 EPS for the current year.
General Mills Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s dividend payout ratio (DPR) 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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