Cibc World Market Inc. Makes New $1.16 Million Investment in General Mills, Inc. $GIS

Key Points

• Cibc World Market Inc. acquired 33,255 General Mills shares worth approximately $1.16 million in the second quarter. Institutional investors collectively own 75.71% of the company.
• General Mills reported quarterly earnings of $0.95 per share, exceeding estimates of $0.80, while revenue rose 1.2% year over year to $4.61 billion. The company also paid a quarterly dividend of $0.61 per share, representing a 6.0% annualized yield.
• Analyst sentiment remains cautious, with a consensus rating of “Reduce” and an average price target of $39.16, below the stock’s reported $40.42 price.

Cibc World Market Inc. acquired a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 33,255 shares of the company's stock, valued at approximately $1,157,000.

A number of other institutional investors also recently modified their holdings of the company. Schwarz Dygos Wheeler Investment Advisors LLC increased its holdings in General Mills by 1.9% during the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company's stock valued at $565,000 after purchasing an additional 225 shares in the last quarter. Allegheny Financial Group raised its position in General Mills by 4.8% in the 4th quarter. Allegheny Financial Group now owns 4,904 shares of the company's stock valued at $228,000 after purchasing an additional 226 shares during the last quarter. Stonebridge Capital Advisors LLC boosted its stake in General Mills by 0.7% in the second quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company's stock worth $1,702,000 after purchasing an additional 226 shares in the last quarter. Robertson Stephens Wealth Management LLC boosted its stake in General Mills by 3.7% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 6,879 shares of the company's stock worth $320,000 after purchasing an additional 247 shares in the last quarter. Finally, Montag A & Associates Inc. grew its holdings in shares of General Mills by 5.7% during the fourth quarter. Montag A & Associates Inc. now owns 4,648 shares of the company's stock worth $216,000 after purchasing an additional 249 shares during the last quarter. Institutional investors own 75.71% of the company's stock.

General Mills Stock Up 0.9%

Shares of GIS opened at $40.42 on Friday. The business's fifty day moving average price is $37.15 and its two-hundred day moving average price is $37.50. The firm has a market capitalization of $21.61 billion, a price-to-earnings ratio of -224.55 and a beta of -0.03. General Mills, Inc. has a 52 week low of $31.75 and a 52 week high of $51.33. 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 (NYSE:GIS - Get Free Report) last released its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share 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 during the quarter, compared to the consensus estimate of $4.59 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The firm's quarterly revenue was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, analysts predict that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend was Friday, July 10th. General Mills's payout ratio is currently -1,355.56%.

Analyst Ratings Changes

GIS has been the subject of a number of research reports. Wells Fargo & Company raised their target price on General Mills from $30.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, July 2nd. Weiss Ratings upgraded shares of General Mills from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. increased their price objective on shares of General Mills from $31.00 to $35.00 and gave the stock an "underweight" rating in a report on Thursday, July 2nd. TD Cowen lowered their price objective on shares of General Mills from $32.00 to $31.00 and set a "hold" rating for the company in a research report on Thursday, July 2nd. Finally, BNP Paribas Exane boosted their target price on shares of General Mills from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $39.16.

General Mills Profile

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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