Amundi Sells 680,388 Shares of General Mills, Inc. $GIS

Key Points

• Amundi has decreased its stake in General Mills, Inc. by 16.7%, now holding 3,401,988 shares worth approximately $207.4 million.
• General Mills reported a quarterly EPS of $0.74, exceeding the expected $0.72, although revenue fell 3.3% year-over-year.
• The company announced an increase in its quarterly dividend to $0.61 per share, yielding 4.9% annually, with a payout ratio of 59.51%.

Amundi cut its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 16.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,401,988 shares of the company's stock after selling 680,388 shares during the quarter. Amundi owned 0.62% of General Mills worth $207,419,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Federation des caisses Desjardins du Quebec boosted its stake in General Mills by 40.8% during the first quarter. Federation des caisses Desjardins du Quebec now owns 82,661 shares of the company's stock worth $4,943,000 after acquiring an additional 23,942 shares in the last quarter. Chiron Capital Management LLC boosted its position in shares of General Mills by 42.4% during the 1st quarter. Chiron Capital Management LLC now owns 6,713 shares of the company's stock worth $401,000 after purchasing an additional 2,000 shares in the last quarter. 1248 Management LLC acquired a new stake in shares of General Mills in the 1st quarter valued at about $76,000. Flputnam Investment Management Co. grew its stake in shares of General Mills by 36.6% in the 1st quarter. Flputnam Investment Management Co. now owns 110,745 shares of the company's stock valued at $6,621,000 after buying an additional 29,664 shares during the period. Finally, ICW Investment Advisors LLC increased its position in General Mills by 0.8% in the 1st quarter. ICW Investment Advisors LLC now owns 24,733 shares of the company's stock valued at $1,479,000 after buying an additional 202 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on GIS. Zacks Research raised General Mills from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 2nd. Barclays reduced their price target on shares of General Mills from $60.00 to $54.00 and set an "equal weight" rating for the company in a research report on Thursday, June 26th. JPMorgan Chase & Co. restated 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. Wells Fargo & Company set a $53.00 price objective on shares of General Mills and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Finally, Bank of America decreased their target price on shares of General Mills from $63.00 to $61.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $59.13.

General Mills Stock Performance

Shares of NYSE:GIS traded down $0.67 during midday trading on Wednesday, reaching $49.69. The company had a trading volume of 1,884,375 shares, compared to its average volume of 5,569,633. The stock has a market cap of $26.95 billion, a P/E ratio of 12.12, a P/E/G ratio of 1.26 and a beta of -0.02. The company's 50 day moving average price is $50.16 and its 200 day moving average price is $54.39. The company has a current ratio of 0.67, a quick ratio of 0.43 and a debt-to-equity ratio of 1.38. General Mills, Inc. has a 52-week low of $48.29 and a 52-week high of $75.66.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.72 by $0.02. The business had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.60 billion. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The company's revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter 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. As a group, sell-side analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 4.9%. This is a positive change from General Mills's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, July 10th. General Mills's dividend payout ratio is currently 59.51%.

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.