OneDigital Investment Advisors LLC Purchases Shares of 41,906 General Mills, Inc. $GIS

OneDigital Investment Advisors LLC purchased a new stake in General Mills, Inc. (NYSE:GIS) during the second quarter, HoldingsChannel.com reports. The fund purchased 41,906 shares of the company’s stock, valued at approximately $1,458,000.

A number of other institutional investors and hedge funds have also modified their holdings of GIS. State Street Corp grew its stake in General Mills by 0.4% in the 3rd quarter. State Street Corp now owns 33,717,972 shares of the company’s stock valued at $1,700,060,000 after buying an additional 145,701 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 worth $915,953,000 after acquiring an additional 488,617 shares during the last quarter. Geode Capital Management LLC lifted its position 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 worth $704,170,000 after acquiring an additional 172,200 shares during the last quarter. Morgan Stanley boosted its holdings in General Mills by 2.1% during the fourth 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. boosted its holdings in General Mills by 14.6% during the fourth quarter. Invesco Ltd. now owns 8,780,455 shares of the company’s stock valued at $408,291,000 after acquiring an additional 1,115,465 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. UBS Group set a $33.00 price objective on General Mills in a research note on Monday, July 6th. The Goldman Sachs Group restated a “neutral” rating and set a $36.00 target price on shares of General Mills in a research note on Tuesday, June 2nd. Piper Sandler lowered their target price on General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Sanford C. Bernstein downgraded General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price target on the stock. in a research report on Wednesday, June 3rd. Finally, Bank of America upped their price target on General Mills from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, General Mills has an average rating of “Reduce” and a consensus target price of $39.16.

General Mills Trading Down 3.2%

Shares of GIS opened at $37.94 on Tuesday. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $51.33. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $20.25 billion, a price-to-earnings ratio of -210.77 and a beta of -0.03. The stock’s 50-day moving average price is $36.20 and its 200 day moving average price is $37.87.

General Mills (NYSE:GIS) last announced 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. 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 during the quarter, compared to the consensus estimate of $4.59 billion. During the same quarter last year, the company earned $0.53 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, research analysts predict that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Announces Dividend

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