Handelsbanken Fonder AB Acquires 41,513 Shares of General Mills, Inc. $GIS

Handelsbanken Fonder AB increased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 15.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 307,312 shares of the company’s stock after purchasing an additional 41,513 shares during the period. Handelsbanken Fonder AB’s holdings in General Mills were worth $10,694,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GIS. Marshall Wace LLP bought a new stake in shares of General Mills in the second quarter valued at approximately $9,188,000. Bank of Nova Scotia boosted its holdings in General Mills by 4.1% in the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock valued at $3,374,000 after purchasing an additional 2,552 shares during the period. WINTON GROUP Ltd grew its position in General Mills by 112.6% in the 2nd quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock worth $465,000 after purchasing an additional 4,752 shares during the last quarter. Daiwa Securities Group Inc. grew its position in General Mills by 4.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock worth $4,250,000 after purchasing an additional 3,814 shares during the last quarter. Finally, Nebula Research & Development LLC increased its holdings in shares of General Mills by 334.2% during the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock worth $1,012,000 after purchasing an additional 15,041 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group increased their target price on shares of General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 2nd. TD Cowen decreased their price objective on General Mills from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday, July 2nd. Wells Fargo & Company upped their target price on General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, July 2nd. Finally, UBS Group set a $33.00 price target on shares of General Mills in a research note on Monday, July 6th. 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 company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $39.16.

General Mills Stock Up 1.8%

Shares of NYSE GIS opened at $38.87 on Friday. General Mills, Inc. has a 52-week low of $31.75 and a 52-week high of $51.33. 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 business has a fifty day moving average of $35.98 and a two-hundred day moving average of $37.96. The stock has a market cap of $20.75 billion, a PE ratio of -215.94 and a beta of -0.03.

General Mills (NYSE:GIS) last posted 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 negative net margin of 0.48% and a positive return on equity of 21.37%. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.59 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm’s quarterly 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. As a group, equities research analysts expect 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. Stockholders of record on Friday, July 10th were issued a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 annualized dividend and a dividend yield of 6.3%. General Mills’s dividend payout ratio (DPR) is presently -1,355.56%.

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.