Bank of New York Mellon Corp Purchases New Shares in General Mills, Inc. $GIS

Bank of New York Mellon Corp bought a new position in General Mills, Inc. (NYSE:GIS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,715,448 shares of the company's stock, valued at approximately $129,298,000. Bank of New York Mellon Corp owned approximately 0.70% of General Mills at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Reflection Asset Management bought a new stake in shares of General Mills during the fourth quarter valued at approximately $25,000. Nalls Sherbakoff Group LLC acquired a new position in General Mills during the 4th quarter worth about $26,000. Bruce G. Allen Investments LLC raised its position in General Mills by 139.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company's stock worth $27,000 after purchasing an additional 337 shares during the last quarter. Zions Bancorporation National Association UT raised its position in shares of General Mills by 248.1% during the fourth quarter. Zions Bancorporation National Association UT now owns 630 shares of the company's stock worth $29,000 after acquiring an additional 449 shares during the last quarter. Finally, Binnacle Investments Inc boosted its stake in shares of General Mills by 312.5% in the 3rd quarter. Binnacle Investments Inc now owns 660 shares of the company's stock valued at $33,000 after purchasing an additional 500 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GIS has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target on General Mills from $33.00 to $36.00 and gave the company a "hold" rating in a research note on Wednesday, July 1st. Zacks Research raised shares of General Mills from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. 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 report on Thursday, July 2nd. BNP Paribas Exane increased their price objective on shares of General Mills from $37.00 to $38.00 and gave the stock a "neutral" rating in a research report on Thursday, July 2nd. Finally, Piper Sandler cut their price target on General Mills from $45.00 to $41.00 and set an "overweight" rating on the stock in a report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $39.16.

General Mills Stock Performance

Shares of GIS stock opened at $39.99 on Monday. The company has a fifty day moving average price of $36.64 and a two-hundred day moving average price of $37.71. General Mills, Inc. has a one year low of $31.75 and a one year high of $51.33. The stock has a market cap of $21.38 billion, a P/E ratio of -222.15 and a beta of -0.03. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40.

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, beating the consensus estimate of $0.80 by $0.15. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. During the same period last year, the business posted $0.53 EPS. General Mills's revenue was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, equities analysts predict that General Mills, Inc. will post 3.07 EPS for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were given a $0.61 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 annualized dividend and a dividend yield of 6.1%. General Mills's dividend payout ratio is presently -1,355.56%.

General Mills 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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