Private Advisory Group LLC Makes New Investment in General Mills, Inc. $GIS

Private Advisory Group LLC bought a new position in General Mills, Inc. (NYSE:GIS) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 318,192 shares of the company’s stock, valued at approximately $11,073,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp boosted its holdings in General Mills by 0.4% in the 3rd quarter. State Street Corp now owns 33,717,972 shares of the company’s stock worth $1,700,060,000 after buying an additional 145,701 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in General Mills by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock valued at $915,953,000 after acquiring an additional 488,617 shares during the period. Geode Capital Management LLC raised its holdings in General Mills by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock valued at $704,170,000 after acquiring an additional 172,200 shares during the period. Morgan Stanley raised its holdings in General Mills by 2.1% during the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock valued at $457,443,000 after acquiring an additional 200,043 shares during the period. Finally, Invesco Ltd. lifted its position in shares of General Mills by 14.6% during the fourth quarter. Invesco Ltd. now owns 8,780,455 shares of the company’s stock worth $408,291,000 after acquiring an additional 1,115,465 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. TD Cowen cut their price target on General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, July 2nd. Stifel Nicolaus decreased their price objective on General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Morgan Stanley dropped their price objective on General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, June 5th. Bank of America raised their target price on General Mills from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $39.16.

General Mills Stock Performance

NYSE GIS opened at $39.23 on Friday. The company’s 50 day simple moving average is $36.10 and its two-hundred day simple moving average is $37.97. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $51.33. The stock has a market capitalization of $20.93 billion, a PE ratio of -217.90 and a beta of -0.03.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.15. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.59 billion. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Analysts predict 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 paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 annualized dividend and a yield of 6.2%. General Mills’s dividend payout ratio (DPR) is currently -1,355.56%.

General Mills Company 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.