California State Teachers Retirement System Increases Holdings in General Mills, Inc. $GIS

Key Points

• California State Teachers Retirement System increased its General Mills stake by 4,324.2% in the second quarter, acquiring 32.66 million additional shares. It now owns 33.41 million shares, or 6.25% of the company, valued at approximately $1.16 billion.
• Institutional ownership remains high at 75.71%, with BlackRock, State Street, Charles Schwab, Geode Capital and Morgan Stanley among the other major holders.
• Analysts maintain a cautious outlook, with General Mills receiving an average “Reduce” rating and a $39.32 price target. The company exceeded quarterly EPS estimates and pays a quarterly dividend of $0.61, equating to an annualized yield of about 6.8%.

California State Teachers Retirement System increased its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 4,324.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,413,498 shares of the company's stock after purchasing an additional 32,658,249 shares during the quarter. California State Teachers Retirement System owned 6.25% of General Mills worth $1,162,790,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GIS. BlackRock Inc. purchased a new stake in General Mills in the second quarter valued at $2,181,608,000. State Street Corp raised its position in General Mills by 0.4% during the third quarter. State Street Corp now owns 33,717,972 shares of the company's stock valued at $1,700,060,000 after acquiring an additional 145,701 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in General Mills by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company's stock valued at $915,953,000 after acquiring an additional 488,617 shares in the last quarter. Geode Capital Management LLC boosted its position in General Mills by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company's stock worth $704,170,000 after purchasing an additional 172,200 shares in the last quarter. Finally, Morgan Stanley boosted its position in General Mills by 2.1% in the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company's stock worth $457,443,000 after purchasing an additional 200,043 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

Wall Street Analyst Weigh In

GIS has been the subject of several recent research reports. Jefferies Financial Group set a $35.00 target price on shares of General Mills in a report on Thursday. Bank of America increased their price target on shares of General Mills from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Tuesday, September 1st. UBS Group set a $33.00 price target on shares of General Mills in a research report on Monday, July 6th. Weiss Ratings raised shares of General Mills from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of General Mills from $31.00 to $35.00 and gave the stock an "underweight" rating in a research report on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $39.32.

General Mills Price Performance

General Mills stock opened at $35.87 on Friday. The stock has a market capitalization of $19.18 billion, a P/E ratio of -199.25, a P/E/G ratio of 1.95 and a beta of -0.01. The company's fifty day moving average price is $37.87 and its 200 day moving average price is $36.93. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $51.33.

General Mills (NYSE:GIS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.80 by $0.15. The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.General Mills's quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, equities research analysts anticipate that General Mills, Inc. will post 3.06 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were issued a $0.61 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a yield of 6.8%. General Mills's dividend payout ratio is presently -1,355.56%.

General Mills Profile

General Mills, Inc is a global food company that manufactures and markets branded consumer food products. Its portfolio includes cereals, snacks, refrigerated and shelf-stable meals, baking products, yogurt, and pet food.

The company's brands include Cheerios, Betty Crocker, Pillsbury, Nature Valley, Old El Paso, Yoplait, Blue Buffalo, and Häagen-Dazs in markets where it owns or licenses the brand. General Mills sells its products through grocery stores, mass merchants, convenience stores, e-commerce channels, restaurants, and other foodservice providers.

General Mills traces its history to the Minneapolis Milling Company, founded in 1856, and adopted the General Mills name in 1928.

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