Caisse DE Depot ET Placement DU Quebec Raises Stake in General Mills, Inc. $GIS

Key Points

• Caisse DE Depot ET Placement DU Quebec increased their stake in General Mills by 31.7%, acquiring an additional 192,122 shares and owning a total of 798,485 shares valued at approximately $47.7 million.
• General Mills recently raised its dividend to $0.61 per share, reflecting a 4.9% yield and a 59.51% payout ratio.
• Analysts have issued mixed reviews on General Mills, with price targets ranging from $45 to $61 and an average rating of "Hold."

Caisse DE Depot ET Placement DU Quebec boosted its position in General Mills, Inc. (NYSE:GIS - Free Report) by 31.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 798,485 shares of the company's stock after acquiring an additional 192,122 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.14% of General Mills worth $47,741,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GIS. Victory Capital Management Inc. lifted its stake in shares of General Mills by 7.3% in the 1st quarter. Victory Capital Management Inc. now owns 522,576 shares of the company's stock valued at $31,245,000 after acquiring an additional 35,494 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in General Mills by 34.5% in the 4th quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company's stock worth $581,903,000 after purchasing an additional 2,341,137 shares in the last quarter. Commonwealth Equity Services LLC raised its position in General Mills by 7.8% in the first quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company's stock valued at $27,076,000 after purchasing an additional 32,628 shares during the last quarter. Rock Point Advisors LLC bought a new stake in shares of General Mills during the first quarter worth about $3,610,000. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of General Mills by 126.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 774,134 shares of the company's stock valued at $46,285,000 after buying an additional 431,693 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GIS shares. Wall Street Zen upgraded shares of General Mills from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. UBS Group decreased their price objective on General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a report on Thursday, June 26th. Stifel Nicolaus cut their target price on General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Bank of America decreased their price target on General Mills from $63.00 to $61.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Finally, The Goldman Sachs Group lowered General Mills from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $68.00 to $58.00 in a research note on Monday, June 9th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $59.13.

General Mills Stock Down 1.6%

Shares of GIS stock traded down $0.81 on Thursday, reaching $48.44. 6,714,662 shares of the company were exchanged, compared to its average volume of 5,649,416. The company has a market cap of $26.27 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.24 and a beta of -0.01. The company has a 50-day moving average of $50.53 and a 200-day moving average of $54.93. 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, Inc. has a one year low of $48.29 and a one year high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $4.60 billion. During the same period in the prior year, the business earned $1.01 EPS. The firm's revenue for the quarter was down 3.3% on a year-over-year basis. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. Analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given 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 5.0%. General Mills's payout ratio is presently 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.