Amundi Has $107.56 Million Stock Holdings in General Mills, Inc. $GIS

Amundi boosted its position in General Mills, Inc. (NYSE:GIS - Free Report) by 23.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,889,724 shares of the company's stock after buying an additional 543,185 shares during the period. Amundi owned approximately 0.54% of General Mills worth $107,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP acquired a new position in General Mills during the second quarter worth $9,188,000. Bank of Nova Scotia raised its holdings in shares of General Mills by 4.1% in the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company's stock worth $3,374,000 after acquiring an additional 2,552 shares during the last quarter. WINTON GROUP Ltd lifted its position in General Mills by 112.6% in the 2nd quarter. WINTON GROUP Ltd now owns 8,971 shares of the company's stock valued at $465,000 after acquiring an additional 4,752 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in General Mills by 4.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company's stock valued at $4,250,000 after purchasing an additional 3,814 shares during the last quarter. Finally, Nebula Research & Development LLC increased its holdings in General Mills by 334.2% during the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company's stock worth $1,012,000 after purchasing an additional 15,041 shares in the last quarter. Institutional investors own 75.71% of the company's stock.

Analyst Upgrades and Downgrades

GIS has been the subject of several analyst reports. Morgan Stanley lowered their price objective on General Mills from $37.00 to $32.00 and set an "underweight" rating for the company in a research note on Friday, June 5th. Piper Sandler decreased their price target on General Mills from $45.00 to $41.00 and set an "overweight" rating for the company in a report on Wednesday, May 13th. TD Cowen lowered their price target on General Mills from $32.00 to $31.00 and set a "hold" rating for the company in a research report on Thursday, July 2nd. BTIG Research initiated coverage on General Mills in a research note on Monday, April 13th. They set a "neutral" rating on the stock. Finally, BNP Paribas Exane lifted their price objective on shares of General Mills from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $39.16.

General Mills Trading Down 1.6%

Shares of General Mills stock opened at $35.85 on Friday. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $51.33. The firm has a market cap of $19.13 billion, a PE ratio of -199.14 and a beta of -0.03. The stock has a fifty day moving average price of $35.30 and a 200-day moving average price of $38.48. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40.

General Mills (NYSE:GIS - Get Free Report) last released its earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates 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 positive return on equity of 21.37% and a negative net margin of 0.48%.The business's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities research analysts anticipate that General Mills, Inc. will post 3.07 EPS for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Friday, July 10th. General Mills's payout ratio is presently -1,355.56%.

Insider Transactions at General Mills

In related news, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the sale, the insider owned 86,002 shares of the company's stock, valued at approximately $2,947,288.54. The trade was a 10.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ricardo Fernandez sold 7,995 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total value of $275,827.50. Following the completion of the transaction, the insider owned 62,283 shares in the company, valued at approximately $2,148,763.50. The trade was a 11.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is owned by insiders.

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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