Canada Pension Plan Investment Board Acquires New Shares in General Mills, Inc. $GIS

Key Points

• Canada Pension Plan Investment Board acquired 341,855 General Mills shares worth approximately $11.9 million, giving it a 0.06% stake; institutional investors collectively own 75.71% of the company.
• General Mills exceeded quarterly earnings expectations, reporting $0.95 EPS versus the $0.80 consensus and $4.61 billion in revenue, up 1.2% year over year.
• The company declared a quarterly dividend of $0.61, or $2.44 annualized, representing a 5.9% yield. Analysts remain cautious, with an average “Reduce” rating and a $39.16 price target.

Canada Pension Plan Investment Board bought a new stake in General Mills, Inc. (NYSE:GIS - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 341,855 shares of the company's stock, valued at approximately $11,897,000. Canada Pension Plan Investment Board owned 0.06% of General Mills at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GIS. Reflection Asset Management acquired a new position in shares of General Mills in the 4th quarter valued at approximately $25,000. Nalls Sherbakoff Group LLC bought a new stake in shares of General Mills during the fourth quarter worth $26,000. Bruce G. Allen Investments LLC increased its position in shares of General Mills by 139.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company's stock worth $27,000 after acquiring an additional 337 shares in the last quarter. Zions Bancorporation National Association UT raised its holdings in shares of General Mills by 248.1% during the fourth quarter. Zions Bancorporation National Association UT now owns 630 shares of the company's stock worth $29,000 after acquiring an additional 449 shares during the period. Finally, Binnacle Investments Inc boosted its stake in General Mills by 312.5% in the 3rd quarter. Binnacle Investments Inc now owns 660 shares of the company's stock worth $33,000 after purchasing an additional 500 shares during the period. Institutional investors own 75.71% of the company's stock.

General Mills Stock Performance

GIS opened at $41.55 on Friday. General Mills, Inc. has a 52-week low of $31.75 and a 52-week high of $51.33. The firm has a market capitalization of $22.21 billion, a PE ratio of -230.82 and a beta of -0.03. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68. The business's 50-day simple moving average is $37.32 and its 200 day simple moving average is $37.53.

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

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Friday, July 10th. General Mills's dividend payout ratio (DPR) is -1,355.56%.

Analysts Set New Price Targets

A number of brokerages have recently commented on GIS. Deutsche Bank Aktiengesellschaft boosted their price target on General Mills from $32.00 to $33.00 and gave the company a "hold" rating in a report on Thursday, July 2nd. The Goldman Sachs Group restated a "neutral" rating and issued a $36.00 target price on shares of General Mills in a research note on Tuesday, June 2nd. TD Cowen decreased their price target on shares of General Mills from $32.00 to $31.00 and set a "hold" rating for the company in a research note on Thursday, July 2nd. JPMorgan Chase & Co. lifted their price objective on shares of General Mills from $31.00 to $35.00 and gave the company an "underweight" rating in a report on Thursday, July 2nd. Finally, BNP Paribas Exane boosted their price objective on shares of General Mills from $37.00 to $38.00 and gave the stock a "neutral" rating in a research report on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $39.16.

About General Mills

General Mills, Inc NYSE: GIS is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company's portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.

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