Meeder Advisory Services Inc. Makes New $1.30 Million Investment in General Mills, Inc. $GIS

Meeder Advisory Services Inc. purchased a new position in shares of General Mills, Inc. (NYSE:GIS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 37,422 shares of the company’s stock, valued at approximately $1,302,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of General Mills during the 2nd quarter valued at $2,181,608,000. Norges Bank acquired a new position in General Mills in the 4th quarter worth about $361,552,000. Wellington Management Group LLP increased its holdings in General Mills by 2,970.1% in the 4th quarter. Wellington Management Group LLP now owns 7,466,693 shares of the company’s stock worth $347,201,000 after purchasing an additional 7,223,487 shares in the last quarter. AQR Capital Management LLC raised its position in General Mills by 366.1% in the fourth quarter. AQR Capital Management LLC now owns 5,117,287 shares of the company’s stock valued at $237,954,000 after purchasing an additional 4,019,319 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in General Mills in the second quarter valued at about $129,298,000. 75.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GIS. Sanford C. Bernstein cut General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price target on the stock. in a report on Wednesday, June 3rd. Jefferies Financial Group raised their price objective on shares of General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, July 1st. Morgan Stanley cut their target price on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a research report on Friday, June 5th. Piper Sandler reduced their target price on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Finally, BNP Paribas Exane upped their price target on shares of General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $39.16.

General Mills Price Performance

Shares of GIS opened at $40.01 on Thursday. The business has a 50-day moving average of $36.41 and a 200-day moving average of $37.80. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. The company has a market capitalization of $21.39 billion, a price-to-earnings ratio of -222.25 and a beta of -0.03. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $51.33.

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

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s dividend payout ratio is currently -1,355.56%.

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.