Perigon Wealth Management LLC Takes Position in General Mills, Inc. $GIS

Perigon Wealth Management LLC bought a new stake in shares of General Mills, Inc. (NYSE:GIS) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 24,102 shares of the company’s stock, valued at approximately $839,000.

Other institutional investors also recently added to or reduced their stakes in the company. Reflection Asset Management acquired a new stake in General Mills in the fourth quarter worth about $25,000. Nalls Sherbakoff Group LLC bought a new position in General Mills in the 4th quarter valued at about $26,000. Bruce G. Allen Investments LLC increased its stake in General Mills by 139.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock valued at $27,000 after buying an additional 337 shares during the period. Zions Bancorporation National Association UT increased its stake in General Mills by 248.1% during the 4th quarter. Zions Bancorporation National Association UT now owns 630 shares of the company’s stock valued at $29,000 after buying an additional 449 shares during the period. Finally, Binnacle Investments Inc raised its position in shares of General Mills by 312.5% during the 3rd quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock worth $33,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Trading Up 0.5%

General Mills stock opened at $38.17 on Wednesday. The company has a 50 day moving average price of $36.29 and a 200 day moving average price of $37.83. General Mills, Inc. has a 52 week low of $31.75 and a 52 week 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 firm has a market capitalization of $20.37 billion, a price-to-earnings ratio of -212.07 and a beta of -0.03.

General Mills (NYSE:GIS) last released its 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. 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 analysts’ expectations of $4.59 billion. During the same quarter in the previous year, the business posted $0.53 EPS. The business’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. Research analysts forecast that General Mills, Inc. will post 3.07 EPS for the current 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 issued 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 dividend yield of 6.4%. General Mills’s dividend payout ratio (DPR) is currently -1,355.56%.

Analyst Ratings Changes

A number of research firms have weighed in on GIS. Zacks Research upgraded General Mills from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Barclays lowered their price target on 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. Sanford C. Bernstein downgraded General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a research note on Wednesday, June 3rd. BNP Paribas Exane upped their price objective on General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $39.16.

General Mills Company 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.