Bank of New York Mellon Corp Has $135.01 Million Stock Holdings in General Mills, Inc. $GIS

Key Points

• Bank of New York Mellon cut its General Mills stake by 4.6% in the first quarter, but still held 3.63 million shares worth about $135.0 million at quarter-end.
• General Mills reported better-than-expected quarterly results, with EPS of $0.95 versus $0.80 expected and revenue of $4.61 billion versus $4.59 billion expected. The company also reaffirmed FY2027 EPS guidance of 3.00 to 3.20.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce” with an average price target of $39.16, even as several firms adjusted targets and ratings.

Bank of New York Mellon Corp decreased its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,627,362 shares of the company's stock after selling 175,598 shares during the quarter. Bank of New York Mellon Corp owned about 0.68% of General Mills worth $135,010,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Reflection Asset Management bought a new stake in shares of General Mills in the fourth quarter valued at approximately $25,000. Nalls Sherbakoff Group LLC bought a new position in General Mills during the fourth quarter worth $26,000. Bruce G. Allen Investments LLC increased its position in General Mills by 139.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company's stock worth $27,000 after acquiring an additional 337 shares during the period. Zions Bancorporation National Association UT raised its stake in General Mills by 248.1% during the 4th quarter. Zions Bancorporation National Association UT now owns 630 shares of the company's stock valued at $29,000 after purchasing an additional 449 shares during the last quarter. Finally, Activest Wealth Management raised its stake in General Mills by 211.7% during the 4th quarter. Activest Wealth Management now owns 695 shares of the company's stock valued at $32,000 after purchasing an additional 472 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

Analyst Ratings Changes

GIS has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price target on shares of General Mills from $31.00 to $35.00 and gave the stock an "underweight" rating in a research report on Thursday, July 2nd. Wells Fargo & Company increased their target price on shares of General Mills from $30.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, July 2nd. Barclays decreased their target price on General Mills from $41.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Monday, May 11th. Weiss Ratings upgraded General Mills from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, July 2nd. Finally, Stifel Nicolaus cut their price target on General Mills from $44.00 to $40.00 and set a "buy" rating for the company in a report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $39.16.

Insider Buying and Selling at General Mills

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the sale, the insider owned 86,002 shares of the company's stock, valued at approximately $2,947,288.54. This represents a 10.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ricardo Fernandez sold 7,995 shares of General Mills stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the transaction, the insider directly owned 62,283 shares of the company's stock, valued at $2,148,763.50. This represents a 11.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by insiders.

General Mills News Summary

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

• Positive Sentiment: General Mills’ Totino’s brand launched new Pizza Rolls and Ultimate Pizza flavors nationwide, which could support sales by refreshing its snack lineup and driving consumer interest. Totino's™ Brings Fan-Favorite Snack Hacks to Life with New Pizza Rolls™ and Ultimate Pizza™ Flavors
• Positive Sentiment: Zacks Research raised some longer-term earnings estimates for GIS, including Q4 2028, FY2028, and FY2029, suggesting the company may still have earnings power beyond the near term. General Mills stock page
• Positive Sentiment: General Mills’ role in a regenerative agriculture partnership with Walmart and ADM could improve long-term sourcing resilience and reinforce its sustainability story. Is Walmart’s Regenerative Farming Push Reshaping Its Supply Chain Edge And Brand Story (WMT)?

General Mills Trading Up 0.1%

GIS stock opened at $38.00 on Monday. General Mills, Inc. has a 1-year low of $31.75 and a 1-year high of $51.68. The firm has a market cap of $20.28 billion, a P/E ratio of -211.09 and a beta of -0.03. The business's 50 day moving average is $34.65 and its 200-day moving average is $39.01. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68.

General Mills (NYSE:GIS - Get Free Report) last issued its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.15. The business had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.General Mills's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities analysts anticipate that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.4%. General Mills's dividend payout ratio (DPR) is presently -1,355.56%.

General Mills Company Profile

General Mills, Inc NYSE: GIS is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company's portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.

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