FinArc Investments Inc. Makes New Investment in General Mills, Inc. $GIS

FinArc Investments Inc. bought a new stake in shares of General Mills, Inc. (NYSE:GIS) during the 1st quarter, Holdings Channel.com reports. The fund bought 28,143 shares of the company’s stock, valued at approximately $1,047,000. General Mills comprises approximately 1.0% of FinArc Investments Inc.’s investment portfolio, making the stock its 29th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Schwarz Dygos Wheeler Investment Advisors LLC lifted its stake in shares of General Mills by 1.9% during the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company’s stock worth $565,000 after purchasing an additional 225 shares during the last quarter. Stonebridge Capital Advisors LLC grew its stake in General Mills by 0.7% in the second quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company’s stock valued at $1,702,000 after purchasing an additional 226 shares during the last quarter. Allegheny Financial Group grew its stake in General Mills by 4.8% in the fourth quarter. Allegheny Financial Group now owns 4,904 shares of the company’s stock valued at $228,000 after purchasing an additional 226 shares during the last quarter. Robertson Stephens Wealth Management LLC raised its holdings in General Mills by 3.7% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 6,879 shares of the company’s stock worth $320,000 after purchasing an additional 247 shares in the last quarter. Finally, Montag A & Associates Inc. raised its holdings in General Mills by 5.7% in the fourth quarter. Montag A & Associates Inc. now owns 4,648 shares of the company’s stock worth $216,000 after purchasing an additional 249 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GIS has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, July 2nd. The Goldman Sachs Group reiterated a “neutral” rating and set a $36.00 price objective on shares of General Mills in a research note on Tuesday, June 2nd. Bank of America increased their target price on shares of General Mills from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Sanford C. Bernstein downgraded shares of General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a research note on Wednesday, June 3rd. Finally, Piper Sandler cut their price target on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $39.16.

Insiders Place Their Bets

In related news, insider Ricardo Fernandez sold 7,995 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the completion of the transaction, the insider directly owned 62,283 shares in the company, valued at $2,148,763.50. The trade was a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the sale, the insider directly owned 86,002 shares in the company, valued at approximately $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by corporate insiders.

General Mills Trading Down 3.8%

General Mills stock opened at $36.47 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. General Mills, Inc. has a 52 week low of $31.75 and a 52 week high of $51.33. The company has a market capitalization of $19.46 billion, a price-to-earnings ratio of -202.61 and a beta of -0.03. The stock has a 50-day moving average price of $35.26 and a 200 day moving average price of $38.50.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.59 billion. During the same quarter in the prior year, the company earned $0.53 EPS. General Mills’s quarterly revenue was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Sell-side analysts anticipate that General Mills, Inc. will post 3.07 EPS for the current year.

General Mills Announces Dividend

The firm 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 $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, July 10th. General Mills’s dividend payout ratio is -1,355.56%.

General Mills Profile

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.