Berkshire Asset Management LLC PA Cuts Stock Holdings in General Mills, Inc. $GIS

Key Points

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Berkshire Asset Management LLC PA trimmed its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 3.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 420,286 shares of the company's stock after selling 12,824 shares during the period. Berkshire Asset Management LLC PA owned 0.08% of General Mills worth $22,994,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GIS. NewEdge Advisors LLC increased its stake in shares of General Mills by 8.2% during the fourth quarter. NewEdge Advisors LLC now owns 39,429 shares of the company's stock worth $2,514,000 after acquiring an additional 2,983 shares during the period. GeoWealth Management LLC grew its position in General Mills by 15.6% during the fourth quarter. GeoWealth Management LLC now owns 8,006 shares of the company's stock worth $511,000 after buying an additional 1,080 shares during the period. First Trust Advisors LP grew its position in General Mills by 13.1% during the fourth quarter. First Trust Advisors LP now owns 1,357,630 shares of the company's stock worth $86,576,000 after buying an additional 156,851 shares during the period. Norinchukin Bank The grew its position in General Mills by 7.3% during the fourth quarter. Norinchukin Bank The now owns 24,116 shares of the company's stock worth $1,538,000 after buying an additional 1,645 shares during the period. Finally, MetLife Investment Management LLC grew its position in General Mills by 1.5% during the fourth quarter. MetLife Investment Management LLC now owns 146,993 shares of the company's stock worth $9,374,000 after buying an additional 2,230 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Price Performance

Shares of NYSE GIS traded up $0.3260 on Friday, hitting $50.1360. The company's stock had a trading volume of 3,871,453 shares, compared to its average volume of 5,472,722. General Mills, Inc. has a 12-month low of $48.59 and a 12-month high of $75.90. The company has a market capitalization of $27.20 billion, a price-to-earnings ratio of 12.23, 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. The stock has a 50 day moving average of $50.85 and a 200-day moving average of $55.20.

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 (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.02. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The company had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.60 billion. During the same quarter in the prior year, the firm earned $1.01 earnings per share. The company's revenue for the quarter was down 3.3% compared to the same quarter last year. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. As a group, research analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Thursday, July 10th. This is a positive change from General Mills's previous quarterly dividend of $0.60. This represents a $2.44 annualized dividend and a dividend yield of 4.9%. General Mills's payout ratio is currently 59.51%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Bank of America lowered their target price on shares of General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Barclays lowered their target price on shares of General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 26th. Wall Street Zen upgraded shares of General Mills from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Wells Fargo & Company set a $53.00 target price on shares of General Mills and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Finally, The Goldman Sachs Group lowered shares of General Mills from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $68.00 to $58.00 in a research report on Monday, June 9th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $59.13.

About General Mills

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.