Kestra Investment Management LLC Grows Stock Holdings in General Mills, Inc. $GIS

Kestra Investment Management LLC raised its stake in General Mills, Inc. (NYSE:GIS) by 1,729.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,829 shares of the company’s stock after purchasing an additional 1,729 shares during the quarter. Kestra Investment Management LLC’s holdings in General Mills were worth $109,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GIS. Charles Schwab Investment Management Inc. boosted its holdings in shares of General Mills by 434.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock valued at $1,138,473,000 after purchasing an additional 15,480,835 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new position in shares of General Mills in the 1st quarter valued at $279,570,000. Pacer Advisors Inc. boosted its holdings in shares of General Mills by 4,775.2% in the 1st quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company’s stock valued at $205,916,000 after purchasing an additional 3,373,338 shares during the last quarter. Nuveen LLC acquired a new position in shares of General Mills in the 1st quarter valued at $92,717,000. Finally, GAMMA Investing LLC boosted its holdings in shares of General Mills by 6,607.0% in the 1st quarter. GAMMA Investing LLC now owns 1,171,705 shares of the company’s stock valued at $70,056,000 after purchasing an additional 1,154,235 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GIS shares. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $45.00 price target (down previously from $53.00) on shares of General Mills in a report on Wednesday, August 20th. UBS Group decreased their price target on shares of General Mills from $52.00 to $49.00 and set a “sell” rating on the stock in a report on Thursday, June 26th. Bank of America reduced their target price on shares of General Mills from $63.00 to $61.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. The Goldman Sachs Group lowered shares of General Mills from a “buy” rating to a “neutral” rating and reduced their target price for the company from $68.00 to $58.00 in a report on Monday, June 9th. Finally, Zacks Research upgraded shares of General Mills from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 2nd. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $59.13.

General Mills Stock Performance

NYSE:GIS opened at $50.35 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.43 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $27.31 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 1.26 and a beta of -0.02. The firm’s fifty day simple moving average is $50.16 and its 200 day simple moving average is $54.39. General Mills, Inc. has a twelve month low of $48.29 and a twelve month high of $75.90.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.60 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. As a group, equities research analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a dividend of $0.61 per share. This is a positive change from General Mills’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.44 annualized dividend and a yield of 4.8%. General Mills’s payout ratio is presently 59.51%.

General Mills Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.