APG Asset Management N.V. Trims Stock Holdings in General Mills, Inc. $GIS

Key Points

• APG Asset Management N.V. has sold 45,100 shares of General Mills, Inc., reducing its stake by 7.8%, and now owns 531,059 shares valued at approximately $29.4 million.
• General Mills reported a quarterly earnings per share of $0.74, narrowly beating analyst estimates, while revenue decreased by 3.3% compared to the same quarter last year.
• The company recently increased its quarterly dividend to $0.61, reflecting a positive change from the previous quarterly dividend of $0.60, resulting in an annualized yield of 4.9%.

APG Asset Management N.V. decreased its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 7.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 531,059 shares of the company's stock after selling 45,100 shares during the period. APG Asset Management N.V. owned approximately 0.10% of General Mills worth $29,395,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in GIS. Charles Schwab Investment Management Inc. raised its position in 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 purchasing an additional 15,480,835 shares during the period. Ameriprise Financial Inc. grew its stake in shares of General Mills by 8.1% during the first quarter. Ameriprise Financial Inc. now owns 9,864,819 shares of the company's stock valued at $589,814,000 after buying an additional 741,432 shares during the last quarter. Northern Trust Corp grew its stake in shares of General Mills by 18.4% during the fourth quarter. Northern Trust Corp now owns 8,061,793 shares of the company's stock valued at $514,101,000 after buying an additional 1,253,483 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of General Mills by 10.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,986,128 shares of the company's stock worth $417,674,000 after buying an additional 634,393 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of General Mills by 8.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,846,576 shares of the company's stock worth $436,606,000 after acquiring an additional 561,731 shares during the last quarter. Institutional investors own 75.71% of the company's stock.

General Mills Stock Up 1.2%

GIS traded up $0.57 during trading on Friday, hitting $49.01. The stock had a trading volume of 1,962,221 shares, compared to its average volume of 5,596,064. The stock has a 50 day simple moving average of $50.53 and a two-hundred day simple moving average of $54.93. 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 twelve month low of $48.29 and a twelve month high of $75.90. The company has a market capitalization of $26.58 billion, a PE ratio of 11.95, a PEG ratio of 1.24 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. The business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.60 billion. General Mills had a return on equity of 24.88% and a net margin of 11.78%.The business's quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. On average, research analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders 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. This represents a $2.44 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Thursday, July 10th. General Mills's dividend payout ratio is 59.51%.

Analysts Set New Price Targets

GIS has been the topic of a number of recent analyst reports. Wall Street Zen upgraded General Mills from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. JPMorgan Chase & Co. restated an "underweight" rating and issued a $45.00 price target (down from $53.00) on shares of General Mills in a report on Wednesday, August 20th. Stifel Nicolaus reduced 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. Royal Bank Of Canada raised shares of General Mills from a "sector perform" rating to an "outperform" rating and lowered their price objective for the company from $67.00 to $63.00 in a research report on Thursday, June 26th. Finally, Wells Fargo & Company set a $53.00 target price on shares of General Mills and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently 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.