158,400 Shares in General Mills, Inc. $GIS Bought by Element Capital Management LLC

Element Capital Management LLC purchased a new position in shares of General Mills, Inc. (NYSE:GIS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 158,400 shares of the company’s stock, valued at approximately $5,512,000. General Mills accounts for about 0.2% of Element Capital Management LLC’s portfolio, making the stock its 24th biggest holding.

Other large investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in General Mills by 13.1% during the fourth quarter. BNP Paribas Financial Markets now owns 1,246,997 shares of the company’s stock worth $57,985,000 after acquiring an additional 144,631 shares during the period. KBC Group NV boosted its position in General Mills by 40.5% in the 1st quarter. KBC Group NV now owns 771,730 shares of the company’s stock worth $28,724,000 after purchasing an additional 222,602 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of General Mills by 140.2% during the 4th quarter. Fifth Third Bancorp now owns 87,060 shares of the company’s stock worth $4,048,000 after purchasing an additional 50,822 shares during the period. Delta Global Management LP purchased a new position in shares of General Mills during the 1st quarter valued at approximately $1,849,000. Finally, Wealthfront Advisers LLC purchased a new position in shares of General Mills during the 2nd quarter valued at approximately $21,342,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

NYSE:GIS opened at $39.80 on Wednesday. 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 company has a fifty day moving average of $36.88 and a two-hundred day moving average of $37.61. The stock has a market capitalization of $21.28 billion, a PE ratio of -221.10 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.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $4.59 billion. During the same period last year, the firm posted $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. As a group, research analysts forecast that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a $0.61 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a yield of 6.1%. General Mills’s dividend payout ratio (DPR) is currently -1,355.56%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on GIS shares. Bank of America raised their price target on shares of General Mills from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Zacks Research raised shares of General Mills from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Piper Sandler dropped their target price on General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Jefferies Financial Group raised their target price on General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday, July 1st. Finally, Barclays reduced their price target on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $39.16.

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.