Alpine Woods Capital Investors LLC Takes $2.58 Million Position in General Mills, Inc. $GIS

Key Points

• Alpine Woods Capital Investors acquired 73,981 General Mills shares worth approximately $2.58 million in the second quarter. Institutional investors and hedge funds collectively own 75.71% of the company.
• General Mills reported quarterly EPS of $0.95, beating the $0.80 analyst consensus, while revenue rose 1.2% year over year to $4.61 billion.
• The company pays a quarterly dividend of $0.61 per share, equivalent to a 6.4% annualized yield. However, analysts maintain a consensus “Reduce” rating with a $39.16 price target, compared with the stock’s reported price of $38.17.

Alpine Woods Capital Investors LLC acquired a new position in General Mills, Inc. (NYSE:GIS - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 73,981 shares of the company's stock, valued at approximately $2,575,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in General Mills in the second quarter valued at about $2,181,608,000. Norges Bank acquired a new stake in shares of General Mills during the fourth quarter valued at about $361,552,000. Wellington Management Group LLP increased its position in shares of General Mills by 2,970.1% during the fourth quarter. Wellington Management Group LLP now owns 7,466,693 shares of the company's stock valued at $347,201,000 after acquiring an additional 7,223,487 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of General Mills by 366.1% in the 4th quarter. AQR Capital Management LLC now owns 5,117,287 shares of the company's stock valued at $237,954,000 after acquiring an additional 4,019,319 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of General Mills in the 2nd quarter worth approximately $129,298,000. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Stock Performance

NYSE:GIS opened at $38.17 on Wednesday. General Mills, Inc. has a 12 month low of $31.75 and a 12 month high of $51.33. 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 firm has a market capitalization of $20.37 billion, a PE ratio of -212.07 and a beta of -0.03. The business's fifty day moving average price is $36.29 and its 200 day moving average price is $37.83.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings results 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. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. During the same period in the previous year, the business earned $0.53 EPS. General Mills's revenue for the quarter was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, sell-side analysts anticipate that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were issued a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 annualized dividend and a dividend yield of 6.4%. General Mills's dividend payout ratio (DPR) is presently -1,355.56%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GIS shares. Sanford C. Bernstein downgraded General Mills from a "market perform" rating to an "underperform" rating and set a $31.00 price objective on the stock. in a report on Wednesday, June 3rd. Zacks Research upgraded General Mills from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Wells Fargo & Company lifted their target price on General Mills from $30.00 to $33.00 and gave the company an "underweight" rating in a research report on Thursday, July 2nd. Barclays cut their price target on shares of General Mills from $41.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Monday, May 11th. Finally, Bank of America increased their price target on shares of General Mills from $36.00 to $39.00 and gave the stock a "neutral" rating in a research report on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, General Mills currently has a consensus rating of "Reduce" and a consensus 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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