Corient Private Wealth LP Buys Shares of 291,270 General Mills, Inc. $GIS

Corient Private Wealth LP bought a new position in General Mills, Inc. (NYSE:GIS) in the 2nd quarter, HoldingsChannel reports. The fund bought 291,270 shares of the company’s stock, valued at approximately $7,703,000.

Several other large investors also recently made changes to their positions in GIS. Marshall Wace LLP bought a new stake in shares of General Mills during the second quarter valued at approximately $9,188,000. Bank of Nova Scotia grew 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 worth $3,374,000 after buying an additional 2,552 shares in the last quarter. WINTON GROUP Ltd grew its holdings 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 buying an additional 4,752 shares in the last quarter. Daiwa Securities Group Inc. increased 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 valued at $4,250,000 after acquiring an additional 3,814 shares during the period. Finally, Nebula Research & Development LLC increased its position in General Mills by 334.2% in the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock valued at $1,012,000 after acquiring 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

A number of research analysts have issued reports on GIS shares. The Goldman Sachs Group reiterated a “neutral” rating and set a $36.00 price target on shares of General Mills in a research report on Tuesday, June 2nd. Weiss Ratings raised General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 2nd. Wells Fargo & Company raised 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. Morgan Stanley cut their price objective on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday, June 5th. Finally, UBS Group set a $33.00 price objective on shares of General Mills in a report on Monday, July 6th. Four research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $39.16.

General Mills Price Performance

NYSE GIS opened at $41.55 on Monday. General Mills, Inc. has a 12 month low of $31.75 and a 12 month high of $51.33. The firm has a market capitalization of $22.21 billion, a PE ratio of -230.82 and a beta of -0.03. The company’s 50 day simple moving average is $37.32 and its 200 day simple moving average is $37.45. 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 released its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share 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 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 firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, equities research analysts forecast that General Mills, Inc. will post 3.06 EPS 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 paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s payout ratio is currently -1,355.56%.

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.