Advisors Capital Management LLC Takes Position in General Mills, Inc. $GIS

Advisors Capital Management LLC bought a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 127,910 shares of the company's stock, valued at approximately $4,451,000.

Several other large investors also recently bought and sold shares of GIS. Reflection Asset Management acquired a new stake in shares of General Mills in the 4th quarter valued at $25,000. Nalls Sherbakoff Group LLC acquired a new stake in General Mills in the fourth quarter valued at $26,000. Brown Shipley& Co Ltd purchased a new stake in General Mills during the 1st quarter worth about $26,000. Bruce G. Allen Investments LLC lifted its holdings in General Mills by 139.8% during the 4th 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 shares of General Mills during the 1st quarter worth about $27,000. Hedge funds and other institutional investors own 75.71% of the company's stock.

General Mills Trading Up 1.0%

Shares of GIS stock opened at $39.99 on Friday. The company has a market capitalization of $21.38 billion, a price-to-earnings ratio of -222.15 and a beta of -0.03. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. The firm has a 50-day moving average price of $36.64 and a 200 day moving average price of $37.77. General Mills, Inc. has a twelve month low of $31.75 and a twelve month high of $51.33.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.15. The company had revenue of $4.61 billion for 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%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Research 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. Stockholders of record on Friday, July 10th were issued a dividend of $0.61 per share. 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 dividend payout ratio (DPR) is -1,355.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their target price on General Mills from $32.00 to $33.00 and gave the stock a "hold" rating in a research report on Thursday, July 2nd. The Goldman Sachs Group reissued a "neutral" rating and set a $36.00 price objective on shares of General Mills in a report on Tuesday, June 2nd. UBS Group set a $33.00 target price on shares of General Mills in a research report on Monday, July 6th. Weiss Ratings raised shares of General Mills from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, July 2nd. Finally, TD Cowen dropped their price objective on General Mills from $32.00 to $31.00 and set a "hold" rating on the stock in a report on Thursday, July 2nd. Four 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, the stock has a consensus rating of "Reduce" and an average price target of $39.16.

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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