General Mills, Inc. $GIS Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its stake in General Mills by 32.5%, owning 213,530 shares valued at approximately $12.77 million after selling 102,677 shares in the first quarter.
• Multiple hedge funds have recently adjusted their positions in the company, with notable increases from Perkins Coie Trust Co and several new stakes by other firms, indicating a high level of institutional ownership at 75.71%.
• General Mills increased its quarterly dividend to $0.61, representing an annual yield of 4.9%, reflecting the company's commitment to returning value to shareholders despite a decline in revenue year-over-year.

BI Asset Management Fondsmaeglerselskab A S cut its position in General Mills, Inc. (NYSE:GIS - Free Report) by 32.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 213,530 shares of the company's stock after selling 102,677 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in General Mills were worth $12,767,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position 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 purchasing an additional 15,480,835 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in shares of General Mills during the first quarter valued at $279,570,000. Pacer Advisors Inc. boosted its position in General Mills by 4,775.2% in the first quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company's stock valued at $205,916,000 after buying an additional 3,373,338 shares during the last quarter. Ameriprise Financial Inc. boosted its position in General Mills by 34.5% in the fourth quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company's stock valued at $581,903,000 after buying an additional 2,341,137 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in General Mills in the first quarter valued at approximately $92,717,000. 75.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Stifel Nicolaus lowered their price target on shares of General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Royal Bank Of Canada raised shares of General Mills from a "sector perform" rating to an "outperform" rating and lowered their price target for the company from $67.00 to $63.00 in a report on Thursday, June 26th. Morgan Stanley reaffirmed an "underweight" rating and issued a $51.00 price target (down from $53.00) on shares of General Mills in a report on Tuesday, June 24th. UBS Group lowered their target price on shares of General Mills from $52.00 to $49.00 and set a "sell" rating on the stock in a research note on Thursday, June 26th. Finally, Wall Street Zen raised shares of General Mills from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. 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 company. According to MarketBeat.com, General Mills currently has an average rating of "Hold" and a consensus price target of $59.13.

General Mills Price Performance

General Mills stock traded down $0.9180 during midday trading on Monday, reaching $49.2620. The company had a trading volume of 1,852,733 shares, compared to its average volume of 5,559,937. The company has a market capitalization of $26.72 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.27 and a beta of -0.01. General Mills, Inc. has a 12-month low of $48.59 and a 12-month high of $75.90. The firm's fifty day simple moving average is $50.85 and its 200-day simple moving average is $55.14. 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 released its quarterly earnings data on Wednesday, June 25th. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.60 billion. General Mills had a net margin of 11.78% and a return on equity of 24.88%. General Mills's quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 EPS. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. As a group, equities analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current 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 issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Thursday, July 10th. This is a positive change from General Mills's previous quarterly dividend of $0.60. General Mills's payout ratio is currently 59.51%.

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.