Cornerstone Wealth Management LLC Buys 15,068 Shares of General Mills, Inc. $GIS

Cornerstone Wealth Management LLC increased its stake in shares of General Mills, Inc. (NYSE:GIS) by 45.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,145 shares of the company’s stock after buying an additional 15,068 shares during the period. Cornerstone Wealth Management LLC’s holdings in General Mills were worth $1,675,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of General Mills during the 4th quarter valued at approximately $361,552,000. Wellington Management Group LLP raised its holdings in shares of 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 worth $347,201,000 after purchasing an additional 7,223,487 shares during the period. AQR Capital Management LLC raised its holdings in shares of General Mills by 366.1% in the 4th quarter. AQR Capital Management LLC now owns 5,117,287 shares of the company’s stock worth $237,954,000 after purchasing an additional 4,019,319 shares during the period. Worldquant Millennium Advisors LLC purchased a new position in General Mills in the second quarter valued at approximately $84,862,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in General Mills by 61.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,141,691 shares of the company’s stock valued at $192,589,000 after purchasing an additional 1,573,444 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Up 1.8%

General Mills stock opened at $38.87 on Friday. The firm has a 50 day simple moving average of $35.98 and a 200 day simple moving average of $37.96. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. General Mills, Inc. has a 1-year low of $31.75 and a 1-year high of $51.33. The firm has a market capitalization of $20.75 billion, a price-to-earnings ratio of -215.94 and a beta of -0.03.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (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 firm 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 business posted $0.53 earnings per share. The business’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. On average, analysts predict that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a yield of 6.3%. General Mills’s dividend payout ratio is -1,355.56%.

Analysts Set New Price Targets

GIS has been the subject of a number of recent research reports. TD Cowen decreased their target price on General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, July 2nd. BNP Paribas Exane upped their price target on General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. UBS Group set a $33.00 price target on General Mills in a research note on Monday, July 6th. Piper Sandler decreased their price objective on General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Finally, Wells Fargo & Company boosted their price objective on General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $39.16.

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.