Comerica Bank Decreases Stock Holdings in General Mills, Inc. $GIS

Key Points

• Comerica Bank reduced its holdings in General Mills, Inc. by 3.4% in the first quarter, selling 5,404 shares, bringing their total to 151,463 shares valued at approximately $9.06 million.
• General Mills declared a quarterly dividend of $0.61, up from the previous $0.60, with a current annualized dividend yield of 5.0%.
• Despite a net margin of 11.78% and beating EPS estimates in its latest quarterly earnings, General Mills’ revenue decreased by 3.3% year-over-year.

Comerica Bank reduced its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,463 shares of the company's stock after selling 5,404 shares during the quarter. Comerica Bank's holdings in General Mills were worth $9,056,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Perkins Coie Trust Co grew its stake in General Mills by 69.2% during the first quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock worth $31,000 after buying an additional 211 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in General Mills during the first quarter worth approximately $34,000. GKV Capital Management Co. Inc. purchased a new stake in General Mills during the first quarter worth approximately $34,000. Heck Capital Advisors LLC purchased a new stake in General Mills during the fourth quarter worth approximately $38,000. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in General Mills during the first quarter worth approximately $37,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Trading Up 0.1%

GIS opened at $49.28 on Thursday. The stock has a market capitalization of $26.73 billion, a PE ratio of 12.02, a P/E/G ratio of 1.24 and a beta of -0.01. The firm's fifty day moving average price is $50.62 and its 200 day moving average price is $55.00. 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 12-month low of $48.59 and a 12-month 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 (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.02. The firm had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $4.60 billion. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The firm's quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 earnings per share. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. As a group, research analysts expect that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were issued a $0.61 dividend. This is a boost from General Mills's previous quarterly dividend of $0.60. This represents a $2.44 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Thursday, July 10th. General Mills's dividend payout ratio is currently 59.51%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GIS. Barclays reduced their target price on shares of General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 26th. 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 report on Wednesday, August 20th. Stifel Nicolaus reduced their target price on shares of General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. UBS Group reduced their target price on shares of General Mills from $52.00 to $49.00 and set a "sell" rating on the stock in a research report on Thursday, June 26th. Finally, Morgan Stanley reissued an "underweight" rating and set a $51.00 target price (down from $53.00) on shares of General Mills in a research report on Tuesday, June 24th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average 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.

Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.