Empowered Funds LLC Acquires 41,587 Shares of General Mills, Inc. $GIS

Key Points

• Empowered Funds increased its General Mills stake by 19.9% in the second quarter, adding 41,587 shares and bringing its holdings to 251,038 shares valued at approximately $8.7 million. Institutional investors collectively own 75.71% of GIS.
• Analyst sentiment remains cautious: General Mills has a consensus “Reduce” rating, with four Buy, twelve Hold and six Sell ratings, and an average price target of $39.16.
• 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 paid a quarterly dividend of $0.61 per share, representing a 5.9% annualized yield.

Empowered Funds LLC grew its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 19.9% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 251,038 shares of the company's stock after acquiring an additional 41,587 shares during the quarter. Empowered Funds LLC's holdings in General Mills were worth $8,736,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Marshall Wace LLP bought a new stake in shares of General Mills during the 2nd quarter worth $9,188,000. Bank of Nova Scotia raised its stake in General Mills by 4.1% during the second quarter. Bank of Nova Scotia now owns 65,118 shares of the company's stock worth $3,374,000 after acquiring an additional 2,552 shares in the last quarter. WINTON GROUP Ltd raised its stake in General Mills by 112.6% during the second quarter. WINTON GROUP Ltd now owns 8,971 shares of the company's stock worth $465,000 after acquiring an additional 4,752 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of General Mills by 4.9% in the second quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company's stock worth $4,250,000 after acquiring an additional 3,814 shares during the last quarter. Finally, Nebula Research & Development LLC lifted its holdings in shares of General Mills by 334.2% in the second quarter. Nebula Research & Development LLC now owns 19,542 shares of the company's stock worth $1,012,000 after acquiring an additional 15,041 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GIS. Bank of America lifted their price target on shares of General Mills from $36.00 to $39.00 and gave the company a "neutral" rating in a 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 report on Tuesday, June 2nd. BNP Paribas Exane boosted their target price on shares of General Mills from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Mills from $32.00 to $33.00 and gave the stock a "hold" rating in a report on Thursday, July 2nd. Finally, Zacks Research upgraded General Mills from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. 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 company. According to data from MarketBeat, General Mills presently has a consensus rating of "Reduce" and an average price target of $39.16.

General Mills Stock Performance

Shares of General Mills stock opened at $41.55 on Friday. The stock has a market cap of $22.21 billion, a price-to-earnings ratio of -230.82 and a beta of -0.03. General Mills, Inc. has a twelve month low of $31.75 and a twelve month high of $51.33. The company's fifty day moving average is $37.32 and its 200 day moving average is $37.53. 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 released its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.15. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.59 billion. During the same quarter in the previous year, the company posted $0.53 EPS. The business's 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. Sell-side analysts forecast that General Mills, Inc. will post 3.06 EPS for the current year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Friday, July 10th. General Mills's dividend payout ratio is currently -1,355.56%.

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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