Banco Bilbao Vizcaya Argentaria S.A. Has $5 Million Holdings in General Mills, Inc. $GIS

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. reduced its holdings in General Mills, Inc. by 23.7%, owning approximately $5 million worth of shares after selling 26,030 shares in the first quarter.
• General Mills reported a quarterly earnings per share of $0.74, slightly exceeding analysts' expectations, despite a 3.3% decline in revenue compared to the previous year.
• The company has announced a quarterly dividend increase to $0.61 per share, leading to an annualized yield of 4.9%.

Banco Bilbao Vizcaya Argentaria S.A. cut its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 23.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,703 shares of the company's stock after selling 26,030 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in General Mills were worth $5,004,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GIS. Charles Schwab Investment Management Inc. lifted its holdings in shares of General Mills by 434.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company's stock worth $1,138,473,000 after buying an additional 15,480,835 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new stake in shares of General Mills during the first quarter valued at approximately $279,570,000. Pacer Advisors Inc. increased its position in shares of General Mills by 4,775.2% during the first quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company's stock valued at $205,916,000 after purchasing an additional 3,373,338 shares during the period. Ameriprise Financial Inc. increased its position in shares of General Mills by 34.5% during the fourth quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company's stock valued at $581,903,000 after purchasing an additional 2,341,137 shares during the period. Finally, Nuveen LLC bought a new stake in shares of General Mills during the first quarter valued at approximately $92,717,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Performance

Shares of NYSE:GIS opened at $49.6370 on Thursday. The business's fifty day moving average price is $51.02 and its two-hundred day moving average price is $55.33. General Mills, Inc. has a fifty-two week low of $48.59 and a fifty-two week high of $75.90. The stock has a market capitalization of $26.92 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 1.26 and a beta of -0.01. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.67 and a quick ratio of 0.43.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. The firm had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $4.60 billion. General Mills had a return on equity of 24.88% and a net margin of 11.78%.The business's revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 earnings per share. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. As a group, analysts predict that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Increases Dividend

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

Analyst Ratings Changes

A number of research firms have recently issued reports on GIS. 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. The Goldman Sachs Group cut General Mills from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $68.00 to $58.00 in a research report on Monday, June 9th. Stifel Nicolaus lowered their price objective on General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. JPMorgan Chase & Co. restated an "underweight" rating and set a $45.00 price objective (down from $53.00) on shares of General Mills in a research report on Wednesday. Finally, Morgan Stanley restated an "underweight" rating and set a $51.00 price objective (down from $53.00) on shares of General Mills in a research report on Tuesday, June 24th. Four equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target 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.

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