Wellington Management Group LLP Sells 7,146,506 Shares of General Mills, Inc. $GIS

Wellington Management Group LLP lessened its stake in shares of General Mills, Inc. (NYSE:GIS) by 96.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 260,488 shares of the company’s stock after selling 7,146,506 shares during the period. Wellington Management Group LLP’s holdings in General Mills were worth $9,065,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Archer Investment Corp acquired a new stake in General Mills in the second quarter worth $43,000. Kimelman & Baird LLC acquired a new stake in shares of General Mills in the 2nd quarter valued at about $304,000. Rakuten Investment Management Inc. increased its position in General Mills by 10.2% in the 2nd quarter. Rakuten Investment Management Inc. now owns 87,289 shares of the company’s stock valued at $3,176,000 after buying an additional 8,100 shares in the last quarter. Empowered Funds LLC raised its stake in General Mills by 19.9% during the 2nd quarter. Empowered Funds LLC now owns 251,038 shares of the company’s stock worth $8,736,000 after buying an additional 41,587 shares during the period. Finally, United Capital Financial Advisors LLC boosted its holdings in General Mills by 31.7% in the second quarter. United Capital Financial Advisors LLC now owns 73,570 shares of the company’s stock worth $2,560,000 after acquiring an additional 17,715 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GIS shares. Weiss Ratings raised General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 2nd. Jefferies Financial Group upped their target price on General Mills from $33.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, July 1st. UBS Group set a $33.00 price target on shares of General Mills in a research report on Monday, July 6th. Zacks Research upgraded shares of General Mills from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $36.00 price objective on shares of General Mills in a report on Tuesday, June 2nd. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $39.37.

General Mills Stock Down 1.7%

Shares of NYSE:GIS opened at $37.66 on Wednesday. The business’s 50 day moving average is $37.94 and its 200 day moving average is $37.06. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $51.33. The stock has a market cap of $20.13 billion, a price-to-earnings ratio of -209.19, a PEG ratio of 2.08 and a beta of -0.01. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 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 business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.59 billion. During the same period in the prior year, the firm posted $0.53 EPS. General Mills’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. On average, sell-side analysts forecast that General Mills, Inc. will post 3.06 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were issued a $0.61 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.44 annualized dividend and a dividend yield of 6.5%. General Mills’s dividend 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.