Morningstar Investment Management LLC Has $3.16 Million Stock Holdings in General Mills, Inc. $GIS

Morningstar Investment Management LLC raised its holdings in shares of General Mills, Inc. (NYSE:GIS) by 51.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 84,981 shares of the company’s stock after acquiring an additional 28,883 shares during the period. Morningstar Investment Management LLC’s holdings in General Mills were worth $3,163,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in GIS. Marshall Wace LLP acquired a new position in General Mills in the second quarter valued at about $9,188,000. Bank of Nova Scotia grew its position in shares of General Mills by 4.1% during the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock worth $3,374,000 after buying an additional 2,552 shares during the period. WINTON GROUP Ltd grew its position in shares of General Mills by 112.6% during the 2nd quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock worth $465,000 after buying an additional 4,752 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of General Mills by 4.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock valued at $4,250,000 after acquiring an additional 3,814 shares during the last quarter. Finally, Nebula Research & Development LLC raised its position in shares of General Mills by 334.2% in the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock valued at $1,012,000 after acquiring an additional 15,041 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GIS shares. Bank of America lifted their price objective on shares of General Mills from $36.00 to $39.00 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 target price on shares of General Mills in a report on Tuesday, June 2nd. Barclays reduced their price target on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, May 11th. Stifel Nicolaus lowered their price objective on shares of General Mills from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Finally, Piper Sandler dropped their price objective on General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and seven have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $39.16.

General Mills Trading Up 1.7%

NYSE GIS opened at $36.16 on Friday. The stock has a market capitalization of $19.30 billion, a price-to-earnings ratio of -200.86 and a beta of -0.03. General Mills, Inc. has a 52 week low of $31.75 and a 52 week high of $51.33. The stock’s 50 day moving average price is $34.97 and its two-hundred day moving average price is $38.72. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68.

General Mills (NYSE:GIS) last posted 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 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 the consensus estimate of $4.59 billion. During the same period in the prior year, the business posted $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, analysts anticipate that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Announces Dividend

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

Insider Buying and Selling

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of General Mills stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the completion of the transaction, the insider directly owned 62,283 shares of the company’s stock, valued at $2,148,763.50. The trade was a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the sale, the insider directly owned 86,002 shares of the company’s stock, valued at $2,947,288.54. The trade was a 10.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by insiders.

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.