General Mills, Inc. $GIS Holdings Boosted by Credit Agricole S A

Key Points

• Credit Agricole S A increased its stake in General Mills, Inc. by 8.1%, acquiring an additional 17,568 shares, bringing its total holdings to 234,329 shares valued at approximately $14 million.
• General Mills recently reported earnings of $0.74 per share, exceeding expectations, although its revenue of $4.56 billion fell short of the $4.60 billion forecast.
• The company announced a quarterly dividend increase to $0.61 per share, reflecting a positive change from the previous dividend of $0.60, with a current dividend yield of 4.9%.

Credit Agricole S A increased its position in General Mills, Inc. (NYSE:GIS - Free Report) by 8.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 234,329 shares of the company's stock after purchasing an additional 17,568 shares during the period. Credit Agricole S A's holdings in General Mills were worth $14,011,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Financial Advisors Network Inc. boosted its stake in General Mills by 79.0% in the first quarter. Financial Advisors Network Inc. now owns 9,540 shares of the company's stock valued at $570,000 after acquiring an additional 4,211 shares during the period. Quantbot Technologies LP boosted its stake in General Mills by 978.0% in the first quarter. Quantbot Technologies LP now owns 134,914 shares of the company's stock valued at $8,067,000 after acquiring an additional 122,399 shares during the period. Wellington Management Group LLP boosted its stake in General Mills by 4.5% in the first quarter. Wellington Management Group LLP now owns 34,390 shares of the company's stock valued at $2,056,000 after acquiring an additional 1,469 shares during the period. Aptus Capital Advisors LLC boosted its stake in General Mills by 6.4% in the first quarter. Aptus Capital Advisors LLC now owns 30,969 shares of the company's stock valued at $1,852,000 after acquiring an additional 1,873 shares during the period. Finally, Freestone Capital Holdings LLC boosted its stake in General Mills by 6.8% in the first quarter. Freestone Capital Holdings LLC now owns 58,492 shares of the company's stock valued at $3,497,000 after acquiring an additional 3,704 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GIS. Wall Street Zen upgraded General Mills from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. UBS Group decreased their target price on General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a research note on Thursday, June 26th. Wells Fargo & Company set a $53.00 price target on General Mills and gave the company an "equal weight" rating in a report on Thursday, June 26th. Barclays cut their price target on General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a report on Thursday, June 26th. Finally, Royal Bank Of Canada raised General Mills from a "sector perform" rating to an "outperform" rating and cut their price target for the company from $67.00 to $63.00 in a report on Thursday, June 26th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, General Mills presently has a consensus rating of "Hold" and a consensus target price of $59.13.

General Mills Price Performance

NYSE:GIS traded up $0.3260 during midday trading on Friday, hitting $50.1360. 3,871,453 shares of the stock were exchanged, compared to its average volume of 5,472,722. General Mills, Inc. has a one year low of $48.59 and a one year high of $75.90. The company has a market capitalization of $27.20 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 1.27 and a beta of -0.01. The business has a 50-day moving average price of $50.85 and a two-hundred day moving average price of $55.17. The company has a current ratio of 0.67, a quick ratio of 0.43 and a debt-to-equity ratio of 1.38.

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 company had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $4.60 billion. General Mills had a return on equity of 24.88% and a net margin of 11.78%.The firm's revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 earnings per share. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. Sell-side analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a $0.61 dividend. This is an increase from General Mills's previous quarterly dividend of $0.60. This represents a $2.44 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Thursday, July 10th. General Mills's dividend payout ratio is currently 59.51%.

General Mills 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.