Diamond Hill Capital Management LLC Investment Advisor Buys Shares of 3,623,480 General Mills, Inc. $GIS

Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of General Mills, Inc. (NYSE:GIS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,623,480 shares of the company’s stock, valued at approximately $126,097,000.

Several other institutional investors have also modified their holdings of GIS. State Street Corp raised its holdings in shares of General Mills by 0.4% during the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock valued at $1,700,060,000 after buying an additional 145,701 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in General Mills by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock worth $915,953,000 after buying an additional 488,617 shares in the last quarter. Geode Capital Management LLC grew its holdings in General Mills by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock worth $704,170,000 after buying an additional 172,200 shares in the last quarter. Morgan Stanley increased its position in General Mills by 2.1% in the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock valued at $457,443,000 after acquiring an additional 200,043 shares during the period. Finally, Invesco Ltd. raised its stake in General Mills by 14.6% during the 4th quarter. Invesco Ltd. now owns 8,780,455 shares of the company’s stock valued at $408,291,000 after acquiring an additional 1,115,465 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Morgan Stanley reduced their price target on General Mills from $37.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, June 5th. Jefferies Financial Group raised their price target on General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, July 1st. UBS Group set a $33.00 price objective on shares of General Mills in a research note on Monday, July 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Finally, BNP Paribas Exane raised their target price on shares of General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $39.16.

General Mills Stock Up 0.1%

Shares of GIS stock opened at $39.23 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 cap of $20.93 billion, a PE ratio of -217.90 and a beta of -0.03. The business’s fifty day moving average is $36.10 and its 200-day moving average is $37.92. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.15. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities analysts expect that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a $0.61 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.44 annualized dividend and a yield of 6.2%. General Mills’s payout ratio is -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.