The Manufacturers Life Insurance Company Cuts Stock Holdings in General Mills, Inc. $GIS

The Manufacturers Life Insurance Company reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 10.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 292,903 shares of the company’s stock after selling 32,559 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of General Mills worth $10,902,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Reflection Asset Management purchased a new stake in shares of General Mills during the fourth quarter valued at approximately $25,000. Nalls Sherbakoff Group LLC bought a new stake in General Mills during the 4th quarter valued at $26,000. Brown Shipley& Co Ltd purchased a new stake in General Mills during the 1st quarter valued at $26,000. Bruce G. Allen Investments LLC boosted its position in General Mills by 139.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock valued at $27,000 after buying an additional 337 shares during the period. Finally, Main Street Group LTD bought a new stake in shares of General Mills in the first quarter worth about $27,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. TD Cowen decreased their target price on General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, July 2nd. Jefferies Financial Group raised their target price on shares of General Mills from $33.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, July 1st. BTIG Research started coverage on shares of General Mills in a research report on Monday, April 13th. They set a “neutral” rating on the stock. BNP Paribas Exane raised their price objective on shares of General Mills from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. Finally, Weiss Ratings raised General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $39.16.

General Mills Stock Up 0.8%

Shares of NYSE:GIS opened at $36.02 on Tuesday. 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 stock has a fifty day simple moving average of $35.35 and a two-hundred day simple moving average of $38.38. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $51.33. The stock has a market capitalization of $19.23 billion, a price-to-earnings ratio of -200.13 and a beta of -0.03.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.15. The firm 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 company’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, research analysts anticipate that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date was Friday, July 10th. General Mills’s payout ratio is presently -1,355.56%.

Insider Activity at General Mills

In other General Mills news, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the sale, the insider owned 86,002 shares of the company’s stock, valued at approximately $2,947,288.54. This trade represents a 10.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ricardo Fernandez sold 7,995 shares of the company’s stock in a transaction 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.30% of the company’s stock.

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.