General Mills, Inc. $GIS Shares Acquired by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC boosted its stake in General Mills, Inc. (NYSE:GIS) by 238.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,623 shares of the company’s stock after acquiring an additional 28,612 shares during the period. Gateway Investment Advisers LLC’s holdings in General Mills were worth $1,414,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in General Mills in the 4th quarter valued at $361,552,000. Wellington Management Group LLP boosted its stake 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 acquiring an additional 7,223,487 shares in the last quarter. AQR Capital Management LLC boosted its position in General Mills by 366.1% during the fourth quarter. AQR Capital Management LLC now owns 5,117,287 shares of the company’s stock worth $237,954,000 after purchasing an additional 4,019,319 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new position in General Mills during the 2nd quarter valued at about $84,862,000. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of General Mills by 61.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,141,691 shares of the company’s stock worth $192,589,000 after purchasing an additional 1,573,444 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GIS shares. BNP Paribas Exane upped their price objective on shares of General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Piper Sandler reduced their price objective on General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Wells Fargo & Company increased their price target on General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, July 2nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $36.00 price objective on shares of General Mills in a research report on Tuesday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat.com, General Mills currently has an average rating of “Reduce” and an average price target of $39.16.

General Mills Stock Performance

Shares of GIS opened at $38.21 on Thursday. The firm’s 50 day moving average is $35.85 and its 200-day moving average is $38.00. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. The stock has a market capitalization of $20.39 billion, a P/E ratio of -212.27 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.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.15. The firm 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 business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities research analysts anticipate that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

General Mills Announces Dividend

The firm 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. This represents a $2.44 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s payout ratio is currently -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.