115,588 Shares in General Mills, Inc. $GIS Acquired by SEB Asset Management AB

Key Points

• SEB Asset Management AB opened a new position in General Mills, buying 115,588 shares worth about $4.3 million in the first quarter.
• General Mills reported better-than-expected quarterly earnings of $0.95 per share on revenue of $4.61 billion, topping analyst estimates and edging higher year over year.
• The company also declared a quarterly dividend of $0.61 per share, implying an annualized yield of about 6.6%, while analysts currently hold a Reduce consensus rating on the stock.

SEB Asset Management AB purchased a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 115,588 shares of the company's stock, valued at approximately $4,302,000.

A number of other large investors also recently modified their holdings of GIS. Marshall Wace LLP purchased a new position in General Mills in the second quarter valued at $9,188,000. Bank of Nova Scotia boosted its position in shares of General Mills by 4.1% during the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company's stock worth $3,374,000 after acquiring an additional 2,552 shares in the last quarter. WINTON GROUP Ltd increased its holdings in shares of General Mills by 112.6% in the 2nd quarter. WINTON GROUP Ltd now owns 8,971 shares of the company's stock valued at $465,000 after acquiring an additional 4,752 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of 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 last quarter. Finally, Nebula Research & Development LLC raised its position in shares of General Mills by 334.2% during the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company's stock worth $1,012,000 after acquiring an additional 15,041 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Trading Down 0.6%

NYSE:GIS opened at $36.95 on Thursday. The stock's 50 day moving average price is $34.86 and its 200 day moving average price is $38.81. The company has a market capitalization of $19.72 billion, a PE ratio of -205.24 and a beta of -0.03. 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, Inc. has a 52-week low of $31.75 and a 52-week high of $51.68.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.15. The company had revenue of $4.61 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, research analysts anticipate that General Mills, Inc. will post 3.07 EPS for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be given a $0.61 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.44 annualized dividend and a yield of 6.6%. General Mills's dividend payout ratio is -1,355.56%.

Analyst Ratings Changes

Several research firms recently weighed in on GIS. JPMorgan Chase & Co. boosted their target price on General Mills from $31.00 to $35.00 and gave the stock an "underweight" rating in a research note on Thursday, July 2nd. Bank of America increased their price target on shares of General Mills from $36.00 to $39.00 and gave the company a "neutral" rating in a research note on Thursday, July 2nd. Stifel Nicolaus reduced their price objective on shares of General Mills from $44.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, April 21st. 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, The Goldman Sachs Group restated a "neutral" rating and issued a $36.00 target price on shares of General Mills in a report on Tuesday, June 2nd. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $39.16.

Insider Buying and Selling at General Mills

In related news, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the sale, the insider owned 86,002 shares in the company, valued at $2,947,288.54. This represents a 10.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ricardo Fernandez sold 7,995 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total transaction of $275,827.50. Following the transaction, the insider directly owned 62,283 shares in the company, valued at $2,148,763.50. The trade was a 11.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by corporate insiders.

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.

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