Lazard Asset Management LLC Has $1.79 Million Position in General Mills, Inc. $GIS

Lazard Asset Management LLC trimmed its stake in shares of General Mills, Inc. (NYSE:GIS) by 56.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,185 shares of the company’s stock after selling 63,696 shares during the period. Lazard Asset Management LLC’s holdings in General Mills were worth $1,793,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GIS. Norges Bank bought a new position in shares of General Mills during the 4th quarter worth approximately $361,552,000. Wellington Management Group LLP boosted its holdings in shares of General Mills by 2,970.1% during the 4th quarter. Wellington Management Group LLP now owns 7,466,693 shares of the company’s stock worth $347,201,000 after buying an additional 7,223,487 shares during the period. AQR Capital Management LLC boosted its holdings in shares of General Mills by 366.1% during the 4th quarter. AQR Capital Management LLC now owns 5,117,287 shares of the company’s stock worth $237,954,000 after buying an additional 4,019,319 shares during the period. Worldquant Millennium Advisors LLC acquired a new position in General Mills in the 2nd quarter valued at about $84,862,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in General Mills by 61.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,141,691 shares of the company’s stock valued at $192,589,000 after acquiring an additional 1,573,444 shares during the period. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of General Mills stock opened at $36.02 on Tuesday. The company’s 50 day moving average price is $35.35 and its two-hundred day moving average price is $38.38. The firm has a market capitalization of $19.23 billion, a P/E ratio of -200.13 and a beta of -0.03. 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 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 announced its quarterly earnings results 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. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. During the same period in the prior year, the business earned $0.53 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, equities analysts forecast that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a $0.61 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.44 annualized dividend and a yield of 6.8%. General Mills’s dividend payout ratio (DPR) is currently -1,355.56%.

Insider Transactions at General Mills

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

Analysts Set New Price Targets

Several brokerages have issued reports on GIS. JPMorgan Chase & Co. raised their price objective on shares of General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, July 2nd. BTIG Research started coverage on General Mills in a research note on Monday, April 13th. They set a “neutral” rating on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $36.00 price target on shares of General Mills in a report on Tuesday, June 2nd. Wells Fargo & Company lifted their target price on General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, July 2nd. Finally, UBS Group set a $33.00 price objective on shares of General Mills in a report on Monday, July 6th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and seven have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price 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.