Baird Financial Group Inc. Cuts Holdings in General Mills, Inc. $GIS

Key Points

• Baird Financial Group Inc. reduced its holdings in General Mills, Inc. by 3.2%, selling 5,969 shares and now owning 180,081 shares valued at approximately $10.77 million.
• Several investment firms, including Vident Advisory LLC and Lansforsakringar Fondforvaltning AB, have significantly increased their positions in General Mills, with Lansforsakringar raising its stake by 348.8%.
• General Mills announced a quarterly dividend of $0.61, reflecting an annualized dividend of $2.44, up from the previous dividend of $0.60, yielding 4.9%.

Baird Financial Group Inc. reduced its position in General Mills, Inc. (NYSE:GIS - Free Report) by 3.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 180,081 shares of the company's stock after selling 5,969 shares during the quarter. Baird Financial Group Inc.'s holdings in General Mills were worth $10,767,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Vident Advisory LLC raised its position in shares of General Mills by 50.8% in the 1st quarter. Vident Advisory LLC now owns 14,948 shares of the company's stock worth $894,000 after buying an additional 5,038 shares during the period. GKV Capital Management Co. Inc. purchased a new position in shares of General Mills in the 1st quarter worth $34,000. WPG Advisers LLC purchased a new position in General Mills in the first quarter valued at about $50,000. Lansforsakringar Fondforvaltning AB publ raised its position in General Mills by 348.8% in the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 849,299 shares of the company's stock valued at $50,780,000 after purchasing an additional 660,061 shares during the period. Finally, Truvestments Capital LLC raised its position in General Mills by 74.6% in the first quarter. Truvestments Capital LLC now owns 1,095 shares of the company's stock valued at $65,000 after purchasing an additional 468 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on GIS shares. Morgan Stanley reissued an "underweight" rating and issued a $51.00 price objective (down from $53.00) on shares of General Mills in a research report on Tuesday, June 24th. The Goldman Sachs Group lowered General Mills from a "buy" rating to a "neutral" rating and cut their price objective for the company from $68.00 to $58.00 in a research report on Monday, June 9th. Wells Fargo & Company set a $53.00 price objective on General Mills and gave the company an "equal weight" rating in a research report on Thursday, June 26th. UBS Group cut their price objective on General Mills from $52.00 to $49.00 and set a "sell" rating on the stock in a research report on Thursday, June 26th. Finally, Royal Bank Of Canada raised General Mills from a "sector perform" rating to an "outperform" rating and cut their price objective for the company from $67.00 to $63.00 in a research report on Thursday, June 26th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, General Mills presently has a consensus rating of "Hold" and a consensus target price of $59.13.

General Mills Stock Down 0.1%

Shares of General Mills stock opened at $49.30 on Wednesday. The business has a 50-day moving average of $50.29 and a 200-day moving average of $54.70. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.67 and a quick ratio of 0.43. The company has a market capitalization of $26.74 billion, a PE ratio of 12.02, a P/E/G ratio of 1.24 and a beta of -0.02. General Mills, Inc. has a 1-year low of $48.29 and a 1-year high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. The company had revenue of $4.56 billion during 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 company's revenue was down 3.3% on a year-over-year basis. During the same period last year, the firm earned $1.01 earnings per share. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. As a group, equities analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis 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 was Thursday, July 10th. General Mills's payout ratio is 59.51%.

General Mills 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.

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