Man Group plc Takes Position in General Mills, Inc. $GIS

Man Group plc acquired a new position in General Mills, Inc. (NYSE:GIS) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 558,610 shares of the company’s stock, valued at approximately $19,440,000. Man Group plc owned 0.10% of General Mills at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GIS. Reflection Asset Management purchased a new stake in General Mills in the fourth quarter valued at $25,000. Nalls Sherbakoff Group LLC purchased a new position in shares of General Mills during the 4th quarter valued at about $26,000. Brown Shipley& Co Ltd acquired a new position in shares of General Mills in the 1st quarter valued at about $26,000. Silvant Capital Management LLC acquired a new position in shares of General Mills in the 2nd quarter valued at about $26,000. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of General Mills by 139.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after buying an additional 337 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on GIS. The Goldman Sachs Group reiterated a “neutral” rating and set a $36.00 price target on shares of General Mills in a research report on Tuesday, June 2nd. Morgan Stanley lowered their price objective on General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a research report on Friday, June 5th. BNP Paribas Exane raised their price objective on shares of General Mills from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Jefferies Financial Group lifted their target price on shares of General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of General Mills from $31.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $39.16.

General Mills Stock Up 0.9%

Shares of GIS opened at $40.42 on Friday. The stock has a 50 day moving average price of $37.15 and a 200 day moving average price of $37.50. General Mills, Inc. has a one year low of $31.75 and a one year high of $51.33. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68. The stock has a market capitalization of $21.61 billion, a price-to-earnings ratio of -224.55 and a beta of -0.03.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.59 billion. During the same quarter last year, the firm posted $0.53 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities research analysts forecast that General Mills, Inc. will post 3.07 earnings per share for the current fiscal 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 paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s dividend payout ratio (DPR) is currently -1,355.56%.

General Mills 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.