Equitable Holdings Inc. Grows Position in General Mills, Inc. $GIS

Equitable Holdings Inc. grew its holdings in shares of General Mills, Inc. (NYSE:GIS) by 47.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,765 shares of the company’s stock after acquiring an additional 31,627 shares during the quarter. Equitable Holdings Inc.’s holdings in General Mills were worth $3,402,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Reflection Asset Management purchased a new position in General Mills in the fourth quarter worth $25,000. Nalls Sherbakoff Group LLC purchased a new stake in General Mills during the fourth quarter valued at about $26,000. Brown Shipley& Co Ltd bought a new stake in General Mills during the first quarter worth about $26,000. Silvant Capital Management LLC bought a new stake in General Mills during the second quarter worth about $26,000. Finally, Bruce G. Allen Investments LLC boosted 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 worth $27,000 after purchasing an additional 337 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Trading Up 0.9%

Shares of GIS stock opened at $40.42 on Friday. The business has a 50-day moving average of $37.15 and a 200 day moving average of $37.50. 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, Inc. has a 1-year low of $31.75 and a 1-year high of $51.33. The stock has a market capitalization of $21.61 billion, a PE ratio of -224.55 and a beta of -0.03.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.15. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.59 billion. During the same period in the previous year, the firm earned $0.53 EPS. The business’s quarterly revenue 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 anticipate that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were issued a $0.61 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.44 annualized dividend and a dividend yield of 6.0%. General Mills’s dividend payout ratio (DPR) is currently -1,355.56%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $36.00 price objective on shares of General Mills in a research report on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. BNP Paribas Exane increased their price target on shares of General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Morgan Stanley decreased their price target 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, TD Cowen lowered their price objective on shares of General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $39.16.

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.