Deutsche Bank AG Invests $105.89 Million in General Mills, Inc. $GIS

Deutsche Bank AG purchased a new position in General Mills, Inc. (NYSE:GIS - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,042,799 shares of the company's stock, valued at approximately $105,889,000. Deutsche Bank AG owned approximately 0.57% of General Mills at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Perigon Wealth Management LLC purchased a new stake in General Mills in the second quarter worth about $839,000. Commerzbank Aktiengesellschaft FI bought a new position in shares of General Mills during the second quarter valued at approximately $1,250,000. Trust Co. of Vermont purchased a new position in shares of General Mills during the second quarter valued at approximately $380,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of General Mills during the second quarter valued at approximately $46,726,000. Finally, OneDigital Investment Advisors LLC bought a new stake in shares of General Mills in the 2nd quarter worth approximately $1,458,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Up 5.1%

GIS opened at $40.01 on Thursday. The stock has a market capitalization of $21.39 billion, a price-to-earnings ratio of -222.25 and a beta of -0.03. The firm has a 50 day moving average price of $36.41 and a 200-day moving average price of $37.80. General Mills, Inc. has a twelve month low of $31.75 and a twelve month high of $51.33. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68.

General Mills (NYSE:GIS - Get Free Report) last issued its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.15. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The company had revenue of $4.61 billion for the quarter, compared to analysts' expectations of $4.59 billion. During the same quarter last 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. Equities research analysts forecast that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date was Friday, July 10th. General Mills's dividend payout ratio (DPR) is -1,355.56%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. UBS Group set a $33.00 price target on General Mills in a research note on Monday, July 6th. JPMorgan Chase & Co. boosted their target price on General Mills from $31.00 to $35.00 and gave the stock an "underweight" rating in a report on Thursday, July 2nd. Jefferies Financial Group increased their target price on General Mills from $33.00 to $36.00 and gave the stock a "hold" rating in a research note on Wednesday, July 1st. Sanford C. Bernstein downgraded General Mills from a "market perform" rating to an "underperform" rating and set a $31.00 price target for the company. in a report on Wednesday, June 3rd. Finally, Wells Fargo & Company lifted their price target on General Mills from $30.00 to $33.00 and gave the stock an "underweight" rating in a research report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price 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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