Simplicity Wealth LLC Makes New Investment in General Mills, Inc. $GIS

Simplicity Wealth LLC acquired a new stake in General Mills, Inc. (NYSE:GIS) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 14,908 shares of the company’s stock, valued at approximately $519,000.

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

General Mills Stock Performance

Shares of NYSE:GIS opened at $37.94 on Tuesday. The firm’s 50 day simple moving average is $36.20 and its 200 day simple moving average is $37.87. General Mills, Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $51.33. The company has a market capitalization of $20.25 billion, a price-to-earnings ratio of -210.77 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.

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

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s dividend payout ratio (DPR) is currently -1,355.56%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. The Goldman Sachs Group restated a “neutral” rating and set a $36.00 target price on shares of General Mills in a research report on Tuesday, June 2nd. BNP Paribas Exane boosted their price target on shares of General Mills from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Weiss Ratings upgraded shares of General Mills from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 2nd. Wells Fargo & Company raised their price objective on shares of General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, July 2nd. Finally, Jefferies Financial Group lifted their target price on shares of General Mills from $33.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $39.16.

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.