DoubleLine ETF Adviser LP Sells 6,127 Shares of General Mills, Inc. $GIS

Key Points

• DoubleLine ETF Adviser LP decreased its holdings in General Mills, Inc. by 19.4% in the first quarter, now owning 25,445 shares valued at approximately $1.52 million.
• Analysts have recently lowered price targets for General Mills, with Barclays setting a new target of $54.00 and Goldman Sachs lowering theirs to $58.00.
• General Mills declared a quarterly dividend of $0.61 per share, representing an annualized dividend of $2.44 with a yield of 4.9%.

DoubleLine ETF Adviser LP cut its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 19.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,445 shares of the company's stock after selling 6,127 shares during the period. DoubleLine ETF Adviser LP's holdings in General Mills were worth $1,521,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Banque Transatlantique SA purchased a new stake in shares of General Mills during the first quarter worth approximately $497,000. American Trust Investment Advisors LLC acquired a new stake in shares of General Mills in the first quarter valued at approximately $869,000. Federation des caisses Desjardins du Quebec boosted its holdings in shares of General Mills by 40.8% in the first quarter. Federation des caisses Desjardins du Quebec now owns 82,661 shares of the company's stock valued at $4,943,000 after acquiring an additional 23,942 shares during the period. Chiron Capital Management LLC lifted its holdings in shares of General Mills by 42.4% during the first quarter. Chiron Capital Management LLC now owns 6,713 shares of the company's stock worth $401,000 after purchasing an additional 2,000 shares during the period. Finally, 1248 Management LLC acquired a new stake in shares of General Mills during the first quarter worth $76,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wells Fargo & Company set a $53.00 target price on General Mills and gave the company an "equal weight" rating in a report on Thursday, June 26th. Barclays decreased their price target on General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 26th. Wall Street Zen lowered General Mills from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. Stifel Nicolaus reduced their price target on General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Finally, Bank of America dropped their price objective on General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $59.13.

General Mills Stock Performance

Shares of NYSE:GIS traded up $0.06 on Tuesday, hitting $50.18. The company's stock had a trading volume of 2,280,057 shares, compared to its average volume of 5,580,395. General Mills, Inc. has a 12 month low of $48.29 and a 12 month high of $75.90. The company has a market capitalization of $27.22 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 1.28 and a beta of -0.02. The stock's 50-day moving average is $50.22 and its two-hundred day moving average is $54.42. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.43 and a current ratio of 0.67.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. General Mills had a return on equity of 24.88% and a net margin of 11.78%.The company had revenue of $4.56 billion during the quarter, compared to analysts' expectations of $4.60 billion. During the same quarter in the prior year, the business posted $1.01 earnings per share. The company's revenue for the quarter was down 3.3% compared to the same quarter last year. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. On average, equities research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Thursday, July 10th. This is a positive change from General Mills's previous quarterly dividend of $0.60. General Mills's dividend payout ratio (DPR) is 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.