SummitTX Capital L.P. Increases Holdings in General Mills, Inc. $GIS

SummitTX Capital L.P. increased its position in General Mills, Inc. (NYSE:GIS) by 255.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,136 shares of the company’s stock after buying an additional 16,633 shares during the quarter. SummitTX Capital L.P.’s holdings in General Mills were worth $861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. LBP AM SA acquired a new position in shares of General Mills in the 4th quarter valued at about $2,639,000. Oak Thistle LLC acquired a new stake in General Mills during the fourth quarter worth about $1,320,000. Robeco Institutional Asset Management B.V. raised its position in General Mills by 1,824.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 895,225 shares of the company’s stock valued at $41,628,000 after acquiring an additional 848,712 shares in the last quarter. HF Advisory Group LLC lifted its holdings in General Mills by 550.2% in the fourth quarter. HF Advisory Group LLC now owns 79,156 shares of the company’s stock valued at $3,681,000 after acquiring an additional 66,981 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in General Mills by 13.1% in the fourth quarter. BNP Paribas Financial Markets now owns 1,246,997 shares of the company’s stock valued at $57,985,000 after acquiring an additional 144,631 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

General Mills stock opened at $36.47 on Friday. The company has a fifty day simple moving average of $35.26 and a 200-day simple moving average of $38.50. The firm has a market capitalization of $19.46 billion, a price-to-earnings ratio of -202.61 and a beta of -0.03. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. General Mills, Inc. has a 52-week low of $31.75 and a 52-week high of $51.33.

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

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 6.7%. The ex-dividend date is Friday, July 10th. General Mills’s dividend payout ratio is presently -1,355.56%.

Insiders Place Their Bets

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total transaction of $342,700.00. Following the transaction, the insider owned 86,002 shares of the company’s stock, valued at approximately $2,947,288.54. The trade was a 10.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ricardo Fernandez sold 7,995 shares of General Mills stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total transaction of $275,827.50. Following the transaction, the insider directly owned 62,283 shares in the company, valued at $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of analyst reports. 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. The Goldman Sachs Group reiterated a “neutral” rating and issued a $36.00 price objective on shares of General Mills in a research report on Tuesday, June 2nd. TD Cowen cut their price target on General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft increased their price target on General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Finally, BTIG Research began coverage on General Mills in a research note on Monday, April 13th. They set a “neutral” rating for the company. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat, General Mills currently has an average rating of “Reduce” and an average target price of $39.16.

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.