General Mills, Inc. $GIS Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC grew its position in shares of General Mills, Inc. (NYSE:GIS) by 41.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 4,140,772 shares of the company’s stock after buying an additional 1,203,993 shares during the quarter. HighTower Advisors LLC’s holdings in General Mills were worth $144,099,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Marshall Wace LLP acquired a new stake in shares of General Mills during the 2nd quarter valued at approximately $9,188,000. Bank of Nova Scotia boosted its holdings in General Mills by 4.1% in the second quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock worth $3,374,000 after purchasing an additional 2,552 shares during the period. WINTON GROUP Ltd boosted its holdings in General Mills by 112.6% in the second quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock worth $465,000 after purchasing an additional 4,752 shares during the period. Daiwa Securities Group Inc. increased its stake in General Mills by 4.9% during the second quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock valued at $4,250,000 after purchasing an additional 3,814 shares during the last quarter. Finally, Nebula Research & Development LLC raised its holdings in shares of General Mills by 334.2% during the second quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock worth $1,012,000 after purchasing an additional 15,041 shares during the period. 75.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. TD Cowen reduced their price target on shares of General Mills from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday, July 2nd. Wells Fargo & Company increased their price objective on shares of General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, July 2nd. Zacks Research raised shares of General Mills from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. BNP Paribas Exane upped their target price on General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Finally, Jefferies Financial Group increased their price target on General Mills from $33.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $39.37.

General Mills Stock Performance

Shares of NYSE GIS opened at $38.36 on Monday. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $51.33. The company has a market cap of $20.51 billion, a PE ratio of -213.10, a P/E/G ratio of 2.08 and a beta of -0.01. The stock has a 50 day simple moving average of $37.85 and a 200-day simple moving average of $37.16. 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 (NYSE:GIS) last posted its earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.80 by $0.15. The firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, equities research analysts forecast that General Mills, Inc. will post 3.06 EPS for the current year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s dividend payout ratio (DPR) 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.