Laurel Wealth Advisors LLC Cuts Position in General Mills, Inc. $GIS

Laurel Wealth Advisors LLC trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 98.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,230 shares of the company’s stock after selling 468,977 shares during the period. Laurel Wealth Advisors LLC’s holdings in General Mills were worth $465,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. North Star Investment Management Corp. increased its stake in General Mills by 255.8% during the third quarter. North Star Investment Management Corp. now owns 59,791 shares of the company’s stock worth $3,015,000 after purchasing an additional 42,986 shares during the period. Norges Bank purchased a new position in shares of General Mills in the second quarter valued at approximately $417,508,000. AE Wealth Management LLC grew its holdings in shares of General Mills by 7.7% in the third quarter. AE Wealth Management LLC now owns 346,005 shares of the company’s stock valued at $17,445,000 after purchasing an additional 24,688 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in General Mills by 22.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company’s stock worth $384,625,000 after buying an additional 1,383,913 shares during the period. Finally, Philip James Wealth Mangement LLC increased its stake in General Mills by 55.0% during the 3rd quarter. Philip James Wealth Mangement LLC now owns 208,155 shares of the company’s stock worth $10,495,000 after buying an additional 73,877 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Down 0.1%

Shares of NYSE:GIS opened at $45.16 on Tuesday. The firm has a 50 day simple moving average of $45.75 and a 200-day simple moving average of $47.46. General Mills, Inc. has a twelve month low of $42.78 and a twelve month high of $67.35. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $24.10 billion, a PE ratio of 9.71 and a beta of -0.05.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 17th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.07. General Mills had a net margin of 13.51% and a return on equity of 21.41%. The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the firm posted $1.40 EPS. The company’s revenue was down 7.2% on a year-over-year basis. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. On average, equities analysts predict that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, April 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.4%. General Mills’s payout ratio is 52.47%.

Insider Buying and Selling at General Mills

In related news, insider Paul Joseph Gallagher sold 1,500 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $48.15, for a total value of $72,225.00. Following the completion of the sale, the insider directly owned 48,568 shares of the company’s stock, valued at $2,338,549.20. This represents a 3.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on GIS. Morgan Stanley decreased their price target on shares of General Mills from $47.00 to $44.00 and set an “underweight” rating for the company in a research report on Wednesday, February 18th. TD Cowen decreased their target price on General Mills from $47.00 to $45.00 and set a “hold” rating for the company in a report on Wednesday, February 18th. Bank of America downgraded General Mills from a “buy” rating to a “neutral” rating and set a $48.00 price target on the stock. in a report on Monday, February 23rd. UBS Group set a $46.00 price target on General Mills in a research report on Friday, February 13th. Finally, Piper Sandler lowered their price objective on General Mills from $60.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Four research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $50.42.

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.