Bank of America Corp DE Sells 375,784 Shares of General Mills, Inc. $GIS

Key Points

• Bank of America reduced its General Mills stake by 9.3%, selling 375,784 shares and retaining 3.68 million shares valued at approximately $128 million. Institutional investors collectively own 75.71% of GIS.
• General Mills reported quarterly EPS of $0.95, beating estimates of $0.80, while revenue reached $4.61 billion and rose 1.2% year over year. The company reaffirmed fiscal 2027 EPS guidance of $3.00–$3.20.
• The stock traded near $36.67 and offered a quarterly dividend of $0.61 per share, equivalent to an annualized yield of about 6.7%. Despite the income appeal, analysts remain cautious, with a consensus “Reduce” rating and an average price target of $37.

Bank of America Corp DE reduced its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 9.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,678,585 shares of the company's stock after selling 375,784 shares during the period. Bank of America Corp DE owned 0.69% of General Mills worth $128,015,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Bontempo Ohly Capital Mgmt LLC grew its stake in shares of General Mills by 0.9% in the 2nd quarter. Bontempo Ohly Capital Mgmt LLC now owns 110,874 shares of the company's stock worth $3,858,000 after buying an additional 976 shares during the last quarter. Wallace Capital Management Inc. bought a new stake in General Mills in the second quarter worth $348,000. Odyssean LLC grew its stake in shares of General Mills by 35.6% in the second quarter. Odyssean LLC now owns 46,597 shares of the company's stock worth $1,622,000 after acquiring an additional 12,232 shares during the last quarter. Man Group plc bought a new position in shares of General Mills during the second quarter valued at $19,440,000. Finally, First Bancorp Inc ME bought a new position in shares of General Mills during the second quarter valued at $78,000. 75.71% of the stock is owned by institutional investors.

General Mills Price Performance

NYSE GIS opened at $36.67 on Friday. The company has a 50-day moving average price of $37.89 and a 200-day moving average price of $36.64. General Mills, Inc. has a 52 week low of $31.75 and a 52 week high of $51.33. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $19.60 billion, a P/E ratio of -203.69, a PEG ratio of 2.00 and a beta of -0.01.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.15. The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.59 billion. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 earnings per share. 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 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend was Friday, July 10th. General Mills's dividend payout ratio (DPR) is -1,355.56%.

More General Mills News

Here are the key news stories impacting General Mills this week:

• Positive Sentiment: General Mills is pruning weaker businesses while investing in premium pet food and emerging brands. The strategy could improve the company’s long-term growth profile after fiscal 2026 organic sales fell 2%. Can General Mills' Portfolio Shift Create a Stronger Growth Profile?
• Positive Sentiment: Zacks expects General Mills to have a favorable combination of earnings-related factors ahead of its next report, raising the possibility of an earnings beat and a near-term stock catalyst. General Mills Expected to Beat Earnings Estimates
• Positive Sentiment: RBC Capital maintained its Buy rating, indicating that at least one major analyst sees the depressed valuation and dividend yield as compensating for the near-term challenges. RBC Capital Sticks to Its Buy Rating
• Neutral Sentiment: General Mills is scheduled to report first-quarter fiscal 2027 results before the market opens on September 23. The report will be closely watched because management has reaffirmed full-year EPS guidance of $3.00–$3.20. Analysts currently expect quarterly EPS and revenue to decline. General Mills Q1 Earnings Preview
• Negative Sentiment: UBS said a return to growth still appears unlikely because consumption trends remain soft. This reinforces concerns that portfolio changes may take time to offset weak volumes and cautious consumer spending. General Mills' Return to Growth Remains Unlikely
• Negative Sentiment: Analysts and investors continue to view GIS as a risky income investment despite its roughly 6.5% yield, while the stock’s recent underperformance versus the broader market highlights declining confidence in its growth outlook. Three Reasons GIS Is Risky

Wall Street Analyst Weigh In

Several brokerages have issued reports on GIS. Deutsche Bank Aktiengesellschaft lifted their target price on shares of General Mills from $32.00 to $33.00 and gave the stock a "hold" rating in a report on Thursday, July 2nd. Evercore set a $38.00 price target on shares of General Mills in a report on Monday. TD Cowen reduced their price target on shares of General Mills from $32.00 to $31.00 and set a "hold" rating for the company in a research report on Thursday, July 2nd. Weiss Ratings upgraded shares of General Mills from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, July 2nd. Finally, UBS Group reaffirmed a "sell" rating on shares of General Mills in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $37.00.

General Mills Company Profile

General Mills, Inc is a global food company that manufactures and markets branded consumer food products. Its portfolio includes cereals, snacks, refrigerated and shelf-stable meals, baking products, yogurt, and pet food.

The company's brands include Cheerios, Betty Crocker, Pillsbury, Nature Valley, Old El Paso, Yoplait, Blue Buffalo, and Häagen-Dazs in markets where it owns or licenses the brand. General Mills sells its products through grocery stores, mass merchants, convenience stores, e-commerce channels, restaurants, and other foodservice providers.

General Mills traces its history to the Minneapolis Milling Company, founded in 1856, and adopted the General Mills name in 1928.

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