Swedbank AB Acquires 880,785 Shares of General Mills, Inc. $GIS

Swedbank AB increased its holdings in General Mills, Inc. (NYSE:GIS) by 116.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,640,282 shares of the company’s stock after purchasing an additional 880,785 shares during the period. Swedbank AB owned approximately 0.31% of General Mills worth $61,051,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC bought a new stake in General Mills in the third quarter worth $25,000. Reflection Asset Management bought a new position in shares of General Mills during the fourth quarter valued at about $25,000. Nalls Sherbakoff Group LLC purchased a new position in shares of General Mills in the fourth quarter worth about $26,000. Bruce G. Allen Investments LLC increased its holdings in shares of General Mills by 139.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after buying an additional 337 shares during the period. Finally, Zions Bancorporation National Association UT lifted its stake in shares of General Mills by 248.1% in the 4th quarter. Zions Bancorporation National Association UT now owns 630 shares of the company’s stock valued at $29,000 after acquiring an additional 449 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

GIS opened at $37.16 on Wednesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68. The stock has a market capitalization of $19.84 billion, a PE ratio of -206.46 and a beta of -0.03. The stock’s 50 day moving average price is $34.33 and its 200-day moving average price is $39.59. General Mills, Inc. has a 52-week low of $31.75 and a 52-week high of $52.51.

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. The company had revenue of $4.61 billion during the quarter, compared to analyst estimates 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 was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, equities research analysts predict that General Mills, Inc. will post 3.08 EPS for the current year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.6%. General Mills’s payout ratio is presently -1,355.56%.

Insider Transactions at General Mills

In other General Mills news, insider Jacqueline Williams-Roll sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the sale, the insider directly owned 86,002 shares in the company, valued at $2,947,288.54. This trade represents a 10.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ricardo Fernandez sold 7,995 shares of General Mills stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total value of $275,827.50. Following the sale, the insider directly owned 62,283 shares in the company, valued at approximately $2,148,763.50. The trade was a 11.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wells Fargo & Company raised their price target on General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. boosted their price objective on General Mills from $31.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday, July 2nd. Piper Sandler cut their target price on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Weiss Ratings raised shares of General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 2nd. Finally, Stifel Nicolaus lowered their price target on shares of General Mills from $44.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and seven have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average 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.