Diamond Hill Capital Management LLC Investment Advisor Purchases Shares of 3,623,480 General Mills, Inc. $GIS

Key Points

• Diamond Hill Capital Management acquired 3.62 million General Mills shares worth approximately $126.1 million, giving it a 0.68% stake. Institutional investors collectively own 75.71% of the company.
• General Mills exceeded quarterly expectations, reporting $0.95 in earnings per share on $4.61 billion in revenue, while revenue increased 1.2% year over year. The company’s full-year EPS guidance is $3.00–$3.20.
• The stock pays an annualized $2.44 dividend, yielding about 6.2%, but analyst sentiment remains cautious: the consensus rating is “Reduce” with a $39.16 target price.

Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,623,480 shares of the company's stock, valued at approximately $126,097,000. Diamond Hill Capital Management LLC Investment Advisor owned 0.68% of General Mills as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in General Mills by 13.1% during the fourth quarter. BNP Paribas Financial Markets now owns 1,246,997 shares of the company's stock worth $57,985,000 after purchasing an additional 144,631 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of General Mills by 10.2% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 711,120 shares of the company's stock valued at $33,186,000 after buying an additional 65,817 shares during the period. KBC Group NV grew its stake in shares of General Mills by 40.5% during the 1st quarter. KBC Group NV now owns 771,730 shares of the company's stock valued at $28,724,000 after buying an additional 222,602 shares during the period. Fifth Third Bancorp increased its holdings in shares of General Mills by 140.2% during the 4th quarter. Fifth Third Bancorp now owns 87,060 shares of the company's stock worth $4,048,000 after buying an additional 50,822 shares during the last quarter. Finally, Delta Global Management LP purchased a new position in shares of General Mills in the 1st quarter worth $1,849,000. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Stock Performance

General Mills stock opened at $39.23 on Monday. The company has a market cap of $20.93 billion, a PE ratio of -217.90 and a beta of -0.03. The company has a fifty day moving average price of $36.10 and a two-hundred day moving average price of $37.92. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. General Mills, Inc. has a 12 month low of $31.75 and a 12 month high of $51.33.

General Mills (NYSE:GIS - Get Free Report) last issued 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 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 period in the prior year, the company earned $0.53 earnings per share. The firm's revenue was up 1.2% compared to the same quarter last year. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Research analysts expect that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a dividend of $0.61 per share. The ex-dividend date was Friday, July 10th. This represents a $2.44 annualized dividend and a yield of 6.2%. General Mills's dividend payout ratio is -1,355.56%.

Analyst Ratings Changes

GIS has been the topic of several research reports. Morgan Stanley cut their price target on shares of General Mills from $37.00 to $32.00 and set an "underweight" rating on the stock in a report on Friday, June 5th. Piper Sandler dropped their price objective on General Mills from $45.00 to $41.00 and set an "overweight" rating on the stock in a report on Wednesday, May 13th. TD Cowen dropped their target price 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. The Goldman Sachs Group restated a "neutral" rating and issued a $36.00 target price on shares of General Mills in a research note on Tuesday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of General Mills from $32.00 to $33.00 and gave the stock a "hold" rating in a research report on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $39.16.

About General Mills

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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