29,279 Shares in General Mills, Inc. $GIS Acquired by OMERS ADMINISTRATION Corp

Key Points

• OMERS Administration Corp. acquired 29,279 General Mills shares worth approximately $1.02 million in the second quarter. Institutional investors collectively own 75.71% of the company.
• Analyst sentiment remains cautious, with General Mills carrying a consensus “Reduce” rating and an average price target of $39.16; shares recently opened at $40.42.
• General Mills exceeded quarterly expectations with $0.95 in earnings per share on $4.61 billion in revenue, while maintaining a quarterly dividend of $0.61 per share, equivalent to a 6.0% annualized yield.

OMERS ADMINISTRATION Corp bought a new stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 29,279 shares of the company's stock, valued at approximately $1,019,000.

Several other hedge funds and other institutional investors have also modified their holdings of GIS. BlackRock Inc. acquired a new position in General Mills in the 2nd quarter valued at approximately $2,181,608,000. State Street Corp boosted its stake in shares of General Mills by 0.4% during the 3rd quarter. State Street Corp now owns 33,717,972 shares of the company's stock valued at $1,700,060,000 after buying an additional 145,701 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of General Mills by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company's stock valued at $915,953,000 after buying an additional 488,617 shares during the period. Geode Capital Management LLC grew its holdings in shares of General Mills by 1.1% during the 4th 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 in the last quarter. Finally, Morgan Stanley increased its stake in shares of General Mills by 2.1% in the fourth quarter. Morgan Stanley now owns 9,837,490 shares of the company's stock worth $457,443,000 after acquiring an additional 200,043 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GIS. Wells Fargo & Company increased their price objective on General Mills from $30.00 to $33.00 and gave the stock an "underweight" rating in a report on Thursday, July 2nd. UBS Group set a $33.00 target price on General Mills in a research report on Monday, July 6th. Bank of America raised their price target on General Mills from $36.00 to $39.00 and gave the stock a "neutral" rating in a research note on Thursday, July 2nd. TD Cowen reduced their price target on General Mills from $32.00 to $31.00 and set a "hold" rating for the company in a report on Thursday, July 2nd. Finally, Sanford C. Bernstein cut General Mills from a "market perform" rating to an "underperform" rating and set a $31.00 price target for the company. in a research note on Wednesday, June 3rd. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have given a Sell rating to the company's stock. Based on data from MarketBeat.com, General Mills currently has a consensus rating of "Reduce" and an average price target of $39.16.

General Mills Stock Up 0.9%

Shares of General Mills stock opened at $40.42 on Friday. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $51.33. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. The stock has a 50 day moving average price of $37.15 and a two-hundred day moving average price of $37.50. The stock has a market capitalization of $21.61 billion, a P/E ratio of -224.55 and a beta of -0.03.

General Mills (NYSE:GIS - Get Free Report) 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. The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.59 billion. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities analysts expect that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a yield of 6.0%. General Mills's payout ratio is currently -1,355.56%.

General Mills 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.

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