62,689,876 Shares in General Mills, Inc. $GIS Acquired by BlackRock Inc.

BlackRock Inc. acquired a new stake in General Mills, Inc. (NYSE:GIS - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 62,689,876 shares of the company's stock, valued at approximately $2,181,608,000. BlackRock Inc. owned about 11.75% of General Mills at the end of the most recent quarter.

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

General Mills Price Performance

Shares of NYSE:GIS opened at $40.01 on Thursday. The firm has a market capitalization of $21.39 billion, a price-to-earnings ratio of -222.25 and a beta of -0.03. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. The business's 50 day simple moving average is $36.41 and its 200-day simple moving average is $37.80. General Mills, Inc. has a 12 month low of $31.75 and a 12 month high of $51.33.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.15. The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.General Mills's quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, equities analysts forecast that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in 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 research report on Thursday, July 2nd. Jefferies Financial Group upped their price target on General Mills from $33.00 to $36.00 and gave the stock a "hold" rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. lifted their price objective on shares of General Mills from $31.00 to $35.00 and gave the company an "underweight" rating in a research report on Thursday, July 2nd. 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, 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 report on Wednesday, June 3rd. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $39.16.

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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