Ascentis Independent Advisors Acquires Shares of 18,638 General Mills, Inc. $GIS

Ascentis Independent Advisors acquired a new stake in General Mills, Inc. (NYSE:GIS) during the 1st quarter, Holdings Channel.com reports. The fund acquired 18,638 shares of the company’s stock, valued at approximately $694,000.

Other institutional investors have also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new position in General Mills during the third quarter valued at $25,000. Reflection Asset Management purchased a new position in shares of General Mills during the 4th quarter valued at about $25,000. Nalls Sherbakoff Group LLC purchased a new position in shares of General Mills during the 4th quarter valued at about $26,000. Bruce G. Allen Investments LLC lifted its holdings in shares of General Mills by 139.8% in 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. Finally, Zions Bancorporation National Association UT lifted its holdings in shares of General Mills by 248.1% in 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. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Activity at General Mills

In other General Mills news, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the transaction, the insider owned 86,002 shares of the company’s stock, valued at $2,947,288.54. This represents a 10.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ricardo Fernandez sold 7,995 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 62,283 shares in the company, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GIS shares. TD Cowen dropped their target price on General Mills from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Piper Sandler dropped their price objective on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Morgan Stanley dropped their price objective on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday, June 5th. Finally, Sanford C. Bernstein lowered shares of General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a report on Wednesday, June 3rd. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $39.16.

General Mills Price Performance

Shares of NYSE GIS opened at $36.38 on Thursday. 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 fifty day moving average of $34.37 and a 200 day moving average of $39.51. The firm has a market cap of $19.42 billion, a PE ratio of -202.09 and a beta of -0.03. General Mills, Inc. has a one year low of $31.75 and a one year high of $52.07.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (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 analyst estimates of $4.59 billion. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, research analysts predict that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 6.7%. The ex-dividend date is Friday, July 10th. General Mills’s payout ratio is presently -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.