41,906 Shares in General Mills, Inc. $GIS Acquired by OneDigital Investment Advisors LLC

Key Points

• OneDigital Investment Advisors acquired 41,906 General Mills shares worth approximately $1.46 million, while other institutional investors also adjusted their positions. Institutions and hedge funds collectively own 75.71% of the company.
• General Mills reported quarterly EPS of $0.95, beating analyst estimates of $0.80, while revenue reached $4.61 billion and increased 1.2% year over year.
• The company pays a quarterly dividend of $0.61 per share, equivalent to $2.44 annually and a 6.4% yield. Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $39.16.

OneDigital Investment Advisors LLC acquired a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 41,906 shares of the company's stock, valued at approximately $1,458,000.

Several other large investors also recently added to or reduced their stakes in GIS. Marshall Wace LLP acquired a new stake in shares of General Mills in the second quarter worth $9,188,000. Bank of Nova Scotia raised its position in General Mills by 4.1% during the second quarter. Bank of Nova Scotia now owns 65,118 shares of the company's stock valued at $3,374,000 after buying an additional 2,552 shares during the period. WINTON GROUP Ltd lifted its stake in General Mills by 112.6% in the 2nd quarter. WINTON GROUP Ltd now owns 8,971 shares of the company's stock worth $465,000 after acquiring an additional 4,752 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in General Mills by 4.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company's stock worth $4,250,000 after acquiring an additional 3,814 shares in the last quarter. Finally, Nebula Research & Development LLC boosted its position in 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 during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Stock Down 3.2%

General Mills stock opened at $37.94 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. General Mills, Inc. has a 1-year low of $31.75 and a 1-year high of $51.33. The firm's fifty day simple moving average is $36.20 and its 200-day simple moving average is $37.87. The company has a market capitalization of $20.25 billion, a P/E ratio of -210.77 and a beta of -0.03.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.15. The firm had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.59 billion. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. General Mills's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Sell-side analysts forecast that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 6.4%. The ex-dividend date was Friday, July 10th. General Mills's dividend payout ratio is -1,355.56%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on General Mills from $31.00 to $35.00 and gave the company an "underweight" rating in a research note on Thursday, July 2nd. Wells Fargo & Company increased 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. UBS Group set a $33.00 price target on shares of General Mills in a report on Monday, July 6th. Zacks Research raised shares of General Mills from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Mills from $32.00 to $33.00 and gave the company a "hold" rating in a research note on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, General Mills has a consensus rating of "Reduce" and an average price target of $39.16.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source