Commerzbank Aktiengesellschaft FI reduced its holdings in General Mills, Inc. (NYSE:GIS – Free Report) by 33.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 35,913 shares of the company’s stock after selling 17,989 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in General Mills were worth $1,337,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the business. State Street Corp boosted its holdings in General Mills by 0.4% in the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock valued at $1,700,060,000 after acquiring an additional 145,701 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in General Mills by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock worth $915,953,000 after purchasing an additional 488,617 shares in the last quarter. Geode Capital Management LLC raised its holdings in General Mills by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock worth $704,170,000 after purchasing an additional 172,200 shares in the last quarter. Morgan Stanley lifted its position in shares of General Mills by 2.1% in the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock worth $457,443,000 after purchasing an additional 200,043 shares during the period. Finally, Invesco Ltd. lifted its position in shares of General Mills by 14.6% in the 4th quarter. Invesco Ltd. now owns 8,780,455 shares of the company’s stock worth $408,291,000 after purchasing an additional 1,115,465 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. BNP Paribas Exane increased their price target on shares of General Mills from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Stifel Nicolaus reduced their target price on General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. The Goldman Sachs Group reissued a “neutral” rating and issued a $36.00 target price on shares of General Mills in a research report on Tuesday, June 2nd. Weiss Ratings upgraded General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 2nd. Finally, BTIG Research started coverage on General Mills in a research report on Monday, April 13th. They set a “neutral” rating on the stock. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and seven have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $39.16.
Insider Buying and Selling at General Mills
In other news, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction dated Tuesday, May 12th. The stock was 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 of the company’s stock, valued at $2,947,288.54. The trade was a 10.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ricardo Fernandez sold 7,995 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total transaction of $275,827.50. Following the completion of the transaction, the insider owned 62,283 shares in the company, valued at approximately $2,148,763.50. The trade was a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by company insiders.
General Mills Trading Down 1.0%
Shares of NYSE GIS opened at $37.21 on Wednesday. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $51.68. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. The firm has a 50-day moving average of $34.79 and a 200 day moving average of $38.88. The stock has a market cap of $19.86 billion, a P/E ratio of -206.69 and a beta of -0.03.
General Mills (NYSE:GIS – Get Free Report) last announced its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.15. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.59 billion. During the same quarter in the prior year, the company earned $0.53 earnings per share. The business’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. As a group, sell-side analysts expect that General Mills, Inc. will post 3.07 EPS for the current fiscal year.
General Mills Announces Dividend
The business also recently declared 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. The ex-dividend date is Friday, July 10th. This represents a $2.44 annualized dividend and a dividend yield of 6.6%. 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.
Featured Articles
- Five stocks we like better than General Mills
- Confidence Is Back, But Earnings Show the Consumer Is Being Picky
- AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off
- 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative?
- 3 Photonics Companies Making Quantum Tech Possible
Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS – Free Report).
Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.
