110,477 Shares in General Mills, Inc. $GIS Purchased by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd bought a new position in General Mills, Inc. (NYSE:GIS) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 110,477 shares of the company’s stock, valued at approximately $3,845,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Haverford Trust Co bought a new position in shares of General Mills in the second quarter worth approximately $254,000. Clear Harbor Asset Management LLC bought a new stake in General Mills during the second quarter valued at approximately $753,000. Bank of Nova Scotia purchased a new position in General Mills in the 2nd quarter worth approximately $5,195,000. Compass Financial Management LLC bought a new position in shares of General Mills in the 2nd quarter worth $76,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of General Mills in the 2nd quarter worth $262,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Up 0.1%

NYSE GIS opened at $39.99 on Monday. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $51.33. The stock has a market capitalization of $21.38 billion, a PE ratio of -222.15 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. The business’s 50-day moving average is $36.64 and its 200 day moving average is $37.71.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.15. The business had revenue of $4.61 billion during 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 business’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Sell-side analysts forecast that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $36.00 target price on shares of General Mills in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. boosted their price target on shares of General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, July 2nd. TD Cowen reduced their price objective on General Mills from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday, July 2nd. Wells Fargo & Company increased their target price on General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, July 2nd. Finally, Jefferies Financial Group lifted their price target on General Mills from $33.00 to $36.00 and gave the stock a “hold” rating in a research note on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus 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.