Arkfeld Wealth Strategies L.L.C. Increases Stock Position in General Mills, Inc. $GIS

Arkfeld Wealth Strategies L.L.C. lifted its position in shares of General Mills, Inc. (NYSE:GIS) by 234.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,441 shares of the company’s stock after buying an additional 27,648 shares during the period. Arkfeld Wealth Strategies L.L.C.’s holdings in General Mills were worth $1,425,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GIS. State Street Corp boosted its holdings in General Mills by 0.4% in the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock valued at $1,700,060,000 after acquiring an additional 145,701 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in General Mills by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock worth $915,953,000 after acquiring an additional 488,617 shares during the last quarter. Geode Capital Management LLC increased its stake in General Mills by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock worth $704,170,000 after acquiring an additional 172,200 shares during the last quarter. Morgan Stanley raised its holdings in shares of General Mills by 2.1% in the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock worth $457,443,000 after purchasing an additional 200,043 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of General Mills by 14.6% in the 4th quarter. Invesco Ltd. now owns 8,780,455 shares of the company’s stock worth $408,291,000 after purchasing an additional 1,115,465 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GIS. Sanford C. Bernstein cut General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a report on Wednesday, June 3rd. Jefferies Financial Group raised their price target on shares of General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, July 1st. The Goldman Sachs Group restated a “neutral” rating and issued a $36.00 price target on shares of General Mills in a report on Tuesday, June 2nd. Morgan Stanley reduced 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 report on Friday, June 5th. Finally, Wells Fargo & Company boosted their price objective on shares of General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $39.16.

General Mills Trading Up 1.8%

NYSE:GIS opened at $37.93 on Wednesday. The business’s 50-day moving average is $35.72 and its two-hundred day moving average is $38.04. The firm has a market capitalization of $20.24 billion, a PE ratio of -210.70 and a beta of -0.03. General Mills, Inc. has a 12 month low of $31.75 and a 12 month 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 issued its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. The company’s revenue 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. Research analysts predict that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders 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 6.4%. The ex-dividend date was Friday, July 10th. General Mills’s dividend payout ratio is currently -1,355.56%.

About General Mills

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.