Ieq Capital LLC Purchases New Position in General Mills, Inc. $GIS

Ieq Capital LLC acquired a new stake in General Mills, Inc. (NYSE:GIS) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 195,159 shares of the company’s stock, valued at approximately $6,792,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. BNP Paribas Financial Markets raised its stake in shares of General Mills by 13.1% during the fourth quarter. BNP Paribas Financial Markets now owns 1,246,997 shares of the company’s stock valued at $57,985,000 after purchasing an additional 144,631 shares during the period. KBC Group NV lifted its position in shares of General Mills by 40.5% during the first quarter. KBC Group NV now owns 771,730 shares of the company’s stock worth $28,724,000 after purchasing an additional 222,602 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of General Mills by 140.2% in the fourth quarter. Fifth Third Bancorp now owns 87,060 shares of the company’s stock valued at $4,048,000 after purchasing an additional 50,822 shares during the period. Delta Global Management LP acquired a new stake in General Mills during the 1st quarter valued at $1,849,000. Finally, Wealthfront Advisers LLC purchased a new stake in General Mills during the 2nd quarter worth $21,342,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

GIS stock opened at $39.99 on Monday. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. The firm has a market cap of $21.38 billion, a P/E ratio of -222.15 and a beta of -0.03. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $51.33. The stock’s 50 day simple moving average is $36.64 and its 200 day simple moving average is $37.71.

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

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date was Friday, July 10th. General Mills’s dividend payout ratio (DPR) is presently -1,355.56%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley cut their price objective on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, June 5th. Piper Sandler lowered their target price on General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. 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 research report on Thursday, July 2nd. BNP Paribas Exane boosted their price target on General Mills from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings raised General Mills from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, General Mills has a consensus rating of “Reduce” and a consensus price target of $39.16.

General Mills 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.