Rockland Trust Co. Boosts Holdings in General Mills, Inc. $GIS

Rockland Trust Co. increased its holdings in General Mills, Inc. (NYSE:GIS) by 54.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 322,937 shares of the company’s stock after purchasing an additional 114,154 shares during the quarter. Rockland Trust Co.’s holdings in General Mills were worth $11,238,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its position in shares of General Mills by 0.4% during the 3rd quarter. State Street Corp now owns 33,717,972 shares of the company’s stock worth $1,700,060,000 after purchasing an additional 145,701 shares during the period. Charles Schwab Investment Management Inc. grew its holdings 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of General Mills by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock worth $704,170,000 after purchasing an additional 172,200 shares in the last quarter. Morgan Stanley increased its holdings in shares of General Mills by 2.1% in the 4th 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 last quarter. Finally, Invesco Ltd. increased its stake in General Mills by 14.6% in the fourth quarter. Invesco Ltd. now owns 8,780,455 shares of the company’s stock valued at $408,291,000 after purchasing an additional 1,115,465 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on GIS shares. JPMorgan Chase & Co. lifted their target price on General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Jefferies Financial Group increased their target price on General Mills from $33.00 to $36.00 and gave the stock a “hold” rating in a research note on Wednesday, July 1st. Bank of America increased their price target on shares of General Mills from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Finally, TD Cowen reduced their price objective on General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and seven have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $39.16.

Insider Buying and Selling at General Mills

In related news, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the sale, the insider directly owned 86,002 shares in the company, valued at approximately $2,947,288.54. This represents a 10.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ricardo Fernandez sold 7,995 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total value of $275,827.50. Following the completion of the sale, the insider owned 62,283 shares of the company’s stock, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.30% of the company’s stock.

General Mills Stock Performance

Shares of NYSE GIS opened at $36.81 on Friday. The company has a market cap of $19.64 billion, a PE ratio of -204.47 and a beta of -0.03. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. General Mills, Inc. has a 12 month low of $31.75 and a 12 month high of $51.33. The company has a 50-day simple moving average of $35.56 and a 200-day simple moving average of $38.18.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.15. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.General Mills’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. 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 earnings per share for the current year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 annualized dividend and a yield of 6.6%. General Mills’s dividend payout ratio is -1,355.56%.

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.