Biondo Investment Advisors LLC Boosts Stock Position in General Mills, Inc. $GIS

Key Points

• Biondo Investment Advisors LLC increased its stake in General Mills by 6.4%, owning a total of 135,608 shares worth $8.1 million after acquiring additional shares in the last quarter.
• General Mills recently announced a quarterly dividend of $0.61, reflecting an annualized amount of $2.44 and a yield of 4.9%, an increase from the previous dividend of $0.60.
• The company's most recent earnings report showed a net margin of 11.78% and a year-over-year revenue decline of 3.3%, while earning $0.74 per share, exceeding expectations.

Biondo Investment Advisors LLC boosted its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 6.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 135,608 shares of the company's stock after acquiring an additional 8,156 shares during the quarter. Biondo Investment Advisors LLC's holdings in General Mills were worth $8,108,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of General Mills by 1.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 73,382 shares of the company's stock worth $4,387,000 after buying an additional 1,393 shares during the period. AlphaQuest LLC acquired a new position in General Mills during the 1st quarter valued at about $162,000. Van Hulzen Asset Management LLC boosted its stake in shares of General Mills by 175.4% in the first quarter. Van Hulzen Asset Management LLC now owns 4,352 shares of the company's stock worth $260,000 after buying an additional 2,772 shares during the last quarter. 1832 Asset Management L.P. boosted its position in General Mills by 2.1% during the first quarter. 1832 Asset Management L.P. now owns 34,218 shares of the company's stock worth $2,046,000 after purchasing an additional 712 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of General Mills by 8.1% in the first quarter. Ameriprise Financial Inc. now owns 9,864,819 shares of the company's stock valued at $589,814,000 after acquiring an additional 741,432 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company's stock.

General Mills Stock Up 0.7%

General Mills stock opened at $50.1360 on Friday. General Mills, Inc. has a fifty-two week low of $48.59 and a fifty-two week high of $75.90. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.43 and a current ratio of 0.67. The company has a market capitalization of $27.20 billion, a P/E ratio of 12.23, a PEG ratio of 1.26 and a beta of -0.01. The stock has a 50-day simple moving average of $50.85 and a 200-day simple moving average of $55.20.

General Mills (NYSE:GIS - Get Free Report) last posted its earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. General Mills had a return on equity of 24.88% and a net margin of 11.78%.The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same period in the previous year, the business earned $1.01 EPS. The business's quarterly revenue was down 3.3% on a year-over-year basis. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. Equities research analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Thursday, July 10th. This is an increase from General Mills's previous quarterly dividend of $0.60. General Mills's dividend payout ratio (DPR) is presently 59.51%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Royal Bank Of Canada raised General Mills from a "sector perform" rating to an "outperform" rating and cut their target price for the stock from $67.00 to $63.00 in a research note on Thursday, June 26th. Wall Street Zen raised General Mills from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. The Goldman Sachs Group cut 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 note on Monday, June 9th. Wells Fargo & Company set a $53.00 target price on General Mills and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and set a $45.00 target price (down from $53.00) on shares of General Mills in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $59.13.

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.

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