General Mills, Inc. $GIS Shares Sold by Allstate Corp

Key Points

• Allstate Corp has reduced its holdings in General Mills, Inc. by 52.9%, owning 7,905 shares worth approximately $473,000 post-sale.
• Analyst ratings for General Mills indicate a mixed outlook, with four analysts recommending a Buy, eight recommending a Hold, and three suggesting a Sell.
• General Mills recently announced an increase in its quarterly dividend to $0.61, which reflects an annual yield of 4.9%.

Allstate Corp decreased its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 52.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,905 shares of the company's stock after selling 8,894 shares during the quarter. Allstate Corp's holdings in General Mills were worth $473,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of General Mills by 434.8% in the 1st 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. bought a new position in shares of General Mills in the 1st quarter worth $279,570,000. Pacer Advisors Inc. raised its position in shares of General Mills by 4,775.2% in the 1st 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 in the last quarter. Ameriprise Financial Inc. raised its position in shares of General Mills by 34.5% in the 4th quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company's stock worth $581,903,000 after acquiring an additional 2,341,137 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of General Mills in the 1st quarter worth $92,717,000. Institutional investors own 75.71% of the company's stock.

General Mills Stock Performance

NYSE GIS traded up $0.85 on Friday, reaching $49.29. 4,877,599 shares of the company's stock traded hands, compared to its average volume of 5,614,356. The firm has a market cap of $26.73 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.24 and a beta of -0.01. The stock has a 50 day moving average price of $50.53 and a 200-day moving average price of $54.93. General Mills, Inc. has a fifty-two week low of $48.29 and a fifty-two week high of $75.90. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.43 and a current ratio of 0.67.

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

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a dividend of $0.61 per share. This is a boost from General Mills's previous quarterly dividend of $0.60. This represents a $2.44 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Thursday, July 10th. General Mills's dividend payout ratio (DPR) is currently 59.51%.

Analyst Ratings Changes

GIS has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their price objective on General Mills from $65.00 to $56.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. The Goldman Sachs Group cut General Mills from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $68.00 to $58.00 in a research report on Monday, June 9th. Wall Street Zen raised General Mills from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. UBS Group lowered their price objective on General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a research report on Thursday, June 26th. Finally, Wells Fargo & Company set a $53.00 price objective on General Mills and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, General Mills has an average rating of "Hold" and a consensus price target of $59.13.

About General Mills

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.