General Mills, Inc. to Issue Quarterly Dividend of $0.61 (NYSE:GIS)

General Mills, Inc. (NYSE:GIS) announced a quarterly dividend on Wednesday, July 1st. Stockholders of record on Friday, July 10th will be paid a dividend of 0.61 per share on Monday, August 3rd. This represents a c) annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Friday, July 10th.

General Mills has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 5 consecutive years. General Mills has a dividend payout ratio of 58.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect General Mills to earn $3.16 per share next year, which means the company should continue to be able to cover its $2.44 annual dividend with an expected future payout ratio of 77.2%.

General Mills Trading Up 8.1%

Shares of GIS stock traded up $2.81 during trading hours on Wednesday, hitting $37.61. 27,192,857 shares of the company were exchanged, compared to its average volume of 9,512,090. The company has a 50 day simple moving average of $34.13 and a two-hundred day simple moving average of $39.94. The firm has a market cap of $20.07 billion, a P/E ratio of 9.20 and a beta of -0.03. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56. General Mills has a fifty-two week low of $31.75 and a fifty-two week high of $54.18.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.13. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.59 billion. General Mills had a net margin of 12.05% and a return on equity of 19.19%. General Mills’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities analysts anticipate that General Mills will post 3.42 EPS for the current year.

Insider Buying and Selling at General Mills

In other news, insider Ricardo Fernandez sold 7,995 shares of the company’s stock in a transaction on 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 in the company, valued at $2,148,763.50. This represents a 11.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the sale, the insider owned 86,002 shares of the company’s stock, valued at approximately $2,947,288.54. This represents a 10.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On General Mills

A number of institutional investors have recently added to or reduced their stakes in GIS. Smith Moore & CO. grew its holdings in shares of General Mills by 2.6% in the third quarter. Smith Moore & CO. now owns 8,785 shares of the company’s stock valued at $443,000 after acquiring an additional 225 shares in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC lifted its holdings in General Mills by 1.9% during the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company’s stock worth $565,000 after acquiring an additional 225 shares during the period. Allegheny Financial Group boosted its position in General Mills by 4.8% in the fourth quarter. Allegheny Financial Group now owns 4,904 shares of the company’s stock worth $228,000 after purchasing an additional 226 shares during the last quarter. Stonebridge Capital Advisors LLC grew its stake in General Mills by 0.7% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company’s stock valued at $1,702,000 after purchasing an additional 226 shares during the period. Finally, Robertson Stephens Wealth Management LLC increased its position in shares of General Mills by 3.7% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 6,879 shares of the company’s stock valued at $320,000 after purchasing an additional 247 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

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.