1,342,619 Shares in General Mills, Inc. $GIS Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management acquired 1,342,619 General Mills shares worth approximately $46.7 million, giving it a 0.25% stake. Institutional investors collectively own 75.71% of the company.
• Analysts remain cautious, with a consensus rating of “Reduce” and an average price target of $39.16; four analysts rate the stock a Buy, 12 Hold, and six Sell.
• General Mills exceeded quarterly earnings expectations, reporting $0.95 EPS and $4.61 billion in revenue, while maintaining a quarterly dividend of $0.61 per share, equivalent to a 6.1% annualized yield.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in General Mills, Inc. (NYSE:GIS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,342,619 shares of the company's stock, valued at approximately $46,726,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.25% of General Mills at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Reflection Asset Management purchased a new position in General Mills during the fourth quarter valued at $25,000. Nalls Sherbakoff Group LLC purchased a new stake in General Mills in the 4th quarter worth $26,000. Brown Shipley& Co Ltd purchased a new stake in General Mills in the 1st quarter worth $26,000. Bruce G. Allen Investments LLC boosted its holdings in shares of General Mills by 139.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company's stock valued at $27,000 after purchasing an additional 337 shares during the last quarter. Finally, Main Street Group LTD bought a new position in shares of General Mills during the 1st quarter valued at about $27,000. Hedge funds and other institutional investors own 75.71% of the company's stock.

Analysts Set New Price Targets

GIS has been the topic of several research reports. BNP Paribas Exane lifted their target price on General Mills from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Thursday, July 2nd. Weiss Ratings upgraded General Mills from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, July 2nd. The Goldman Sachs Group reissued a "neutral" rating and set a $36.00 price target on shares of General Mills in a research note on Tuesday, June 2nd. Jefferies Financial Group raised their price target on General Mills from $33.00 to $36.00 and gave the company a "hold" rating in a report on Wednesday, July 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on General Mills from $32.00 to $33.00 and gave the stock a "hold" rating in a research note on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $39.16.

General Mills Stock Performance

Shares of NYSE:GIS opened at $40.01 on Thursday. General Mills, Inc. has a 52 week low of $31.75 and a 52 week high of $51.33. The stock has a market capitalization of $21.39 billion, a P/E ratio of -222.25 and a beta of -0.03. The firm has a fifty day simple moving average of $36.41 and a two-hundred day simple moving average of $37.80. 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 - Get Free Report) last posted 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. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.59 billion. During the same period in the previous year, the firm posted $0.53 EPS. The business's quarterly 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, analysts expect that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend was Friday, July 10th. General Mills's payout ratio is presently -1,355.56%.

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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