Concurrent Investment Advisors LLC Buys 63,181 Shares of General Mills, Inc. $GIS

Key Points

• Concurrent Investment Advisors LLC increased its General Mills stake by 221.3% in the second quarter, buying 63,181 additional shares and bringing its holdings to 91,726 shares valued at approximately $3.2 million.
• General Mills reported quarterly EPS of $0.95, beating estimates of $0.80, while revenue rose 1.2% year over year to $4.61 billion. The company also pays a quarterly dividend of $0.61, representing an annualized yield of about 6.4%.
• GIS shares opened at $38.36, while analyst sentiment remains cautious: the stock has an average “Reduce” rating and a consensus price target of $39.37, with 75.71% of shares owned by institutional investors.

Concurrent Investment Advisors LLC raised its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 221.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,726 shares of the company's stock after buying an additional 63,181 shares during the quarter. Concurrent Investment Advisors LLC's holdings in General Mills were worth $3,192,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Schwarz Dygos Wheeler Investment Advisors LLC increased its holdings in General Mills by 1.9% in the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company's stock valued at $565,000 after buying an additional 225 shares during the last quarter. Stonebridge Capital Advisors LLC lifted its holdings in General Mills by 0.7% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company's stock worth $1,702,000 after buying an additional 226 shares during the last quarter. New England Asset Management Inc. lifted its holdings in General Mills by 0.9% during the 3rd quarter. New England Asset Management Inc. now owns 30,935 shares of the company's stock worth $1,560,000 after buying an additional 280 shares during the last quarter. Triumph Capital Management boosted its position in shares of General Mills by 45.0% during the 2nd quarter. Triumph Capital Management now owns 915 shares of the company's stock worth $32,000 after acquiring an additional 284 shares in the last quarter. Finally, Security National Bank of Sioux City Iowa IA boosted its position in shares of General Mills by 0.8% during the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 36,665 shares of the company's stock worth $1,900,000 after acquiring an additional 305 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Stock Up 0.2%

GIS opened at $38.36 on Tuesday. General Mills, Inc. has a one year low of $31.75 and a one year 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. The stock has a market capitalization of $20.51 billion, a P/E ratio of -213.10, a price-to-earnings-growth ratio of 2.08 and a beta of -0.01. The business's 50-day simple moving average is $37.89 and its 200-day simple moving average is $37.11.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.15. The firm had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The business's revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Analysts anticipate that General Mills, Inc. will post 3.06 EPS 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 paid 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 6.4%. General Mills's payout ratio is currently -1,355.56%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price objective on General Mills from $32.00 to $33.00 and gave the company a "hold" rating in a report on Thursday, July 2nd. UBS Group set a $33.00 price target on General Mills in a report on Monday, July 6th. BNP Paribas Exane increased their price target on shares of General Mills from $37.00 to $38.00 and gave the company a "neutral" rating in a research note on Thursday, July 2nd. Sanford C. Bernstein cut shares of General Mills from a "market perform" rating to an "underperform" rating and set a $31.00 price objective on the stock. in a report on Wednesday, June 3rd. Finally, Jefferies Financial Group boosted their price objective on shares of General Mills from $33.00 to $36.00 and gave the stock a "hold" rating in a research report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $39.37.

General Mills Company 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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