Adage Capital Partners GP L.L.C. Decreases Position in General Mills, Inc. $GIS

Key Points

• Adage Capital Partners trimmed its stake in General Mills, reducing ownership to approximately **$22.54 million** and **0.07%** of the company after selling 24,300 shares in the first quarter.
• General Mills increased its quarterly dividend from **$0.60 to $0.61 per share**, which reflects an annualized dividend yield of **4.9%**.
• Analyst ratings on General Mills are mixed, with **four analysts issuing a Buy rating**, while **nine rated it Hold**, and **three assigned a Sell rating**, indicating a consensus price target of **$59.13**.

Adage Capital Partners GP L.L.C. reduced its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 376,896 shares of the company's stock after selling 24,300 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.07% of General Mills worth $22,535,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in shares of General Mills by 434.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company's stock worth $1,138,473,000 after acquiring an additional 15,480,835 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in shares of General Mills in the first quarter valued at approximately $279,570,000. Pacer Advisors Inc. boosted its position in General Mills by 4,775.2% during the first quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company's stock worth $205,916,000 after acquiring an additional 3,373,338 shares during the last quarter. Nuveen LLC acquired a new position in shares of General Mills in the 1st quarter valued at $92,717,000. Finally, GAMMA Investing LLC raised its stake in shares of General Mills by 6,607.0% in the 1st quarter. GAMMA Investing LLC now owns 1,171,705 shares of the company's stock valued at $70,056,000 after acquiring an additional 1,154,235 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GIS shares. Bank of America reduced their target price on shares of General Mills from $63.00 to $61.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Royal Bank Of Canada raised shares of General Mills from a "sector perform" rating to an "outperform" rating and lowered their price objective for the company from $67.00 to $63.00 in a research report on Thursday, June 26th. Barclays decreased their price objective on shares of General Mills from $60.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, June 26th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $45.00 price objective (down previously from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Finally, The Goldman Sachs Group downgraded shares of General Mills from a "buy" rating to a "neutral" rating and cut their price target for the company from $68.00 to $58.00 in a research report on Monday, June 9th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, General Mills presently has an average rating of "Hold" and a consensus price target of $59.13.

General Mills Price Performance

NYSE GIS traded down $0.79 on Wednesday, reaching $49.56. 1,586,734 shares of the company's stock traded hands, compared to its average volume of 5,568,369. The stock has a 50-day simple moving average of $50.16 and a 200 day simple moving average of $54.39. General Mills, Inc. has a 12 month low of $48.29 and a 12 month high of $75.66. The stock has a market cap of $26.88 billion, a PE ratio of 12.09, a P/E/G ratio of 1.26 and a beta of -0.02. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.67 and a quick ratio of 0.43.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. The firm had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.60 billion. General Mills had a return on equity of 24.88% and a net margin of 11.78%.General Mills's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 EPS. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. As a group, research analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a dividend of $0.61 per share. The ex-dividend date was Thursday, July 10th. This is a positive change from General Mills's previous quarterly dividend of $0.60. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.9%. General Mills's payout ratio is presently 59.51%.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.