Legal & General Group Plc Makes New $121.71 Million Investment in General Mills, Inc. $GIS

Legal & General Group Plc purchased a new stake in General Mills, Inc. (NYSE:GIS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,497,327 shares of the company’s stock, valued at approximately $121,707,000. Legal & General Group Plc owned 0.66% of General Mills as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of GIS. Reflection Asset Management acquired a new position in General Mills during the 4th quarter worth about $25,000. Nalls Sherbakoff Group LLC acquired a new stake in shares of General Mills in the fourth quarter valued at about $26,000. Brown Shipley& Co Ltd acquired a new stake in shares of General Mills in the first quarter valued at about $26,000. Silvant Capital Management LLC bought a new position in shares of General Mills during the second quarter worth about $26,000. Finally, Bruce G. Allen Investments LLC raised its position in shares of General Mills by 139.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after acquiring an additional 337 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Sanford C. Bernstein cut General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 target price on the stock. in a report on Wednesday, June 3rd. UBS Group set a $33.00 price target on shares of General Mills in a report on Monday, July 6th. The Goldman Sachs Group restated a “neutral” rating and issued a $36.00 price target on shares of General Mills in a research report on Tuesday, June 2nd. Piper Sandler reduced 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. Finally, Bank of America increased their price objective on shares of General Mills from $36.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $39.16.

General Mills Trading Up 0.9%

NYSE GIS opened at $40.42 on Friday. The business has a 50 day simple moving average of $37.15 and a 200 day simple moving average of $37.50. General Mills, Inc. has a one year low of $31.75 and a one year high of $51.33. The stock has a market capitalization of $21.61 billion, a P/E ratio of -224.55 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 earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.15. The business had revenue of $4.61 billion during 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 firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Research analysts expect that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid 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 payout ratio is currently -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.