General Mills, Inc. $GIS Shares Acquired by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its stake in General Mills by 8.1%, owning 9,864,819 shares valued at approximately $589.8 million after acquiring an additional 741,432 shares in the first quarter.
• General Mills recently reported earnings of $0.74 per share, exceeding analysts' expectations, but its revenue fell by 3.3% year-over-year to $4.56 billion.
• The company declared a quarterly dividend of $0.61 per share, increasing from the previous $0.60, which represents an annualized dividend yield of 4.9%.

Ameriprise Financial Inc. grew its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 8.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,864,819 shares of the company's stock after acquiring an additional 741,432 shares during the period. Ameriprise Financial Inc. owned about 1.79% of General Mills worth $589,814,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GIS. OneDigital Investment Advisors LLC increased its stake in General Mills by 29.6% during the 4th quarter. OneDigital Investment Advisors LLC now owns 13,198 shares of the company's stock worth $842,000 after buying an additional 3,012 shares during the period. Dark Forest Capital Management LP increased its stake in General Mills by 95.6% during the 4th quarter. Dark Forest Capital Management LP now owns 9,329 shares of the company's stock worth $595,000 after buying an additional 4,559 shares during the period. MGO One Seven LLC increased its stake in General Mills by 3.9% during the 4th quarter. MGO One Seven LLC now owns 33,342 shares of the company's stock worth $2,126,000 after buying an additional 1,247 shares during the period. Integrated Wealth Concepts LLC increased its stake in General Mills by 52.8% during the 4th quarter. Integrated Wealth Concepts LLC now owns 22,900 shares of the company's stock worth $1,460,000 after buying an additional 7,911 shares during the period. Finally, Voya Investment Management LLC increased its stake in General Mills by 1.1% during the 4th quarter. Voya Investment Management LLC now owns 306,181 shares of the company's stock worth $19,525,000 after buying an additional 3,440 shares during the period. Hedge funds and other institutional investors own 75.71% of the company's stock.

General Mills Stock Down 1.6%

Shares of GIS stock traded down $0.81 during trading hours on Monday, hitting $49.37. 4,709,849 shares of the company were exchanged, compared to its average volume of 5,578,353. 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, Inc. has a one year low of $48.59 and a one year high of $75.90. The business's 50-day simple moving average is $50.85 and its two-hundred day simple moving average is $55.14. The stock has a market capitalization of $26.78 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 1.27 and a beta of -0.01.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.72 by $0.02. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The business had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $4.60 billion. During the same quarter last year, the company posted $1.01 earnings per share. The company's quarterly revenue was down 3.3% compared to the same quarter last year. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. Sell-side analysts predict that General Mills, Inc. will post 4.36 EPS for the current fiscal 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 issued a $0.61 dividend. This is a boost from General Mills's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.44 annualized dividend and a dividend yield of 4.9%. General Mills's dividend payout ratio (DPR) is presently 59.51%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GIS shares. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $45.00 price target (down previously from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Stifel Nicolaus dropped their price target on shares of General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. The Goldman Sachs Group downgraded shares of General Mills from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $68.00 to $58.00 in a research note on Monday, June 9th. Wall Street Zen raised shares of General Mills from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Finally, Morgan Stanley reissued an "underweight" rating and issued a $51.00 target price (down previously from $53.00) on shares of General Mills in a research report on Tuesday, June 24th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $59.13.

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.