S&CO Inc. Acquires New Holdings in General Mills, Inc. $GIS

S&CO Inc. bought a new position in shares of General Mills, Inc. (NYSE:GIS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,646 shares of the company’s stock, valued at approximately $474,000.

Several other hedge funds have also recently bought and sold shares of GIS. Bellars Harris Wealth Management LLC bought a new stake in shares of General Mills during the second quarter worth $594,000. Avalon Trust Co acquired a new position in General Mills in the 2nd quarter worth $128,000. BIP Wealth LLC acquired a new position in General Mills in the 2nd quarter worth $360,000. Everett Harris & Co. CA bought a new position in General Mills during the 2nd quarter worth about $502,000. Finally, Greatmark Investment Partners Inc. increased its holdings in General Mills by 2.1% during the 2nd quarter. Greatmark Investment Partners Inc. now owns 66,970 shares of the company’s stock worth $2,331,000 after purchasing an additional 1,376 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GIS shares. TD Cowen cut their price target on General Mills from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday, July 2nd. Morgan Stanley reduced their price objective on General Mills from $37.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, June 5th. 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. BNP Paribas Exane lifted their target price on General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Finally, Weiss Ratings upgraded General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $39.16.

General Mills Stock Up 0.1%

Shares of GIS stock opened at $39.23 on Monday. 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’s fifty day moving average price is $36.10 and its two-hundred day moving average price is $37.92. The firm has a market capitalization of $20.93 billion, a P/E ratio of -217.90 and a beta of -0.03.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.15. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, equities analysts predict that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given 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 is -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.