311,372 Shares in General Mills, Inc. $GIS Bought by Varma Mutual Pension Insurance Co

Key Points

• Varma Mutual Pension Insurance Co. bought 311,372 General Mills shares valued at approximately $10.8 million, while institutional investors collectively own 75.71% of the company.
• Analyst sentiment remains cautious: General Mills has a consensus “Reduce” rating and an average price target of $39.16, with several analysts recently lowering targets.
• General Mills beat quarterly earnings estimates with $0.95 in EPS and $4.61 billion in revenue, while maintaining a quarterly dividend of $0.61 per share, equivalent to a 6.1% annualized yield.

Varma Mutual Pension Insurance Co purchased a new stake in General Mills, Inc. (NYSE:GIS - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 311,372 shares of the company's stock, valued at approximately $10,836,000. Varma Mutual Pension Insurance Co owned approximately 0.06% of General Mills at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its holdings in General Mills by 13.1% during the 4th quarter. BNP Paribas Financial Markets now owns 1,246,997 shares of the company's stock worth $57,985,000 after purchasing an additional 144,631 shares during the last quarter. KBC Group NV increased its stake in shares of General Mills by 40.5% in the first quarter. KBC Group NV now owns 771,730 shares of the company's stock worth $28,724,000 after buying an additional 222,602 shares during the last quarter. Fifth Third Bancorp raised its holdings in General Mills by 140.2% in the fourth quarter. Fifth Third Bancorp now owns 87,060 shares of the company's stock valued at $4,048,000 after acquiring an additional 50,822 shares in the last quarter. Delta Global Management LP bought a new position in General Mills during the 1st quarter valued at $1,849,000. Finally, Wealthfront Advisers LLC acquired a new position in General Mills during the 2nd quarter worth $21,342,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Piper Sandler reduced their price target on shares of General Mills from $45.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 13th. Morgan Stanley cut their target price on shares of General Mills from $37.00 to $32.00 and set an "underweight" rating on the stock in a report on Friday, June 5th. Zacks Research upgraded shares of General Mills from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 12th. The Goldman Sachs Group restated a "neutral" rating and issued a $36.00 target price on shares of General Mills in a research report on Tuesday, June 2nd. Finally, Wells Fargo & Company boosted their price target 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 equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $39.16.

General Mills Stock Up 0.1%

Shares of NYSE:GIS opened at $39.99 on Monday. The firm has a 50 day simple moving average of $36.64 and a 200 day simple moving average of $37.71. General Mills, Inc. has a 52 week low of $31.75 and a 52 week high of $51.33. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68. The company has a market cap of $21.38 billion, a PE ratio of -222.15 and a beta of -0.03.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.15. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate 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 revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, research analysts expect that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a $0.61 dividend. 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 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.

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