197,825 Shares in General Mills, Inc. $GIS Bought by Nykredit A S

Nykredit A S bought a new stake in shares of General Mills, Inc. (NYSE:GIS) in the second quarter, Holdings Channel reports. The fund bought 197,825 shares of the company’s stock, valued at approximately $6,884,000.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of General Mills in the 2nd quarter valued at about $2,181,608,000. State Street Corp grew its holdings in General Mills by 0.4% during the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock worth $1,700,060,000 after acquiring an additional 145,701 shares during the period. Charles Schwab Investment Management Inc. grew its holdings 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 period. Geode Capital Management LLC lifted its holdings in General Mills by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock valued at $704,170,000 after acquiring an additional 172,200 shares during the period. Finally, Morgan Stanley lifted its holdings in General Mills by 2.1% in the fourth quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock valued at $457,443,000 after acquiring an additional 200,043 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Trading Down 2.3%

Shares of GIS stock opened at $38.36 on Friday. 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 company has a market cap of $20.51 billion, a price-to-earnings ratio of -213.10, a PEG ratio of 2.08 and a beta of -0.01. The stock has a 50 day simple moving average of $37.85 and a 200-day simple moving average of $37.24. General Mills, Inc. has a 1-year low of $31.75 and a 1-year high of $51.33.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.59 billion. During the same quarter last year, the firm posted $0.53 EPS. The business’s revenue was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, equities research analysts expect that General Mills, Inc. will post 3.06 EPS for the current fiscal year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were issued a dividend of $0.61 per share. 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 dividend payout ratio (DPR) is presently -1,355.56%.

Wall Street Analyst Weigh In

GIS has been the topic of a number of analyst reports. Barclays dropped their price objective on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. TD Cowen lowered their price target on shares of General Mills from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday, July 2nd. Weiss Ratings upgraded shares of General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 2nd. Finally, Wells Fargo & Company upped their price objective on shares of General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Mills presently has an average rating of “Reduce” and an average target price of $39.37.

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.