Empowered Funds LLC Purchases 41,930 Shares of General Mills, Inc. $GIS

Key Points

• Empowered Funds LLC has increased its holdings in General Mills by 29.3%, acquiring 41,930 additional shares, bringing their total to 185,221 shares valued at $11.07 million.
• General Mills reported a quarterly earnings of $0.74 EPS, which exceeded analysts' expectations of $0.72, despite a 3.3% year-over-year decline in revenue.
• The company has raised its quarterly dividend to $0.61, resulting in an annualized dividend yield of 4.8%, reflecting its commitment to returning value to shareholders.

Empowered Funds LLC grew its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 29.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 185,221 shares of the company's stock after purchasing an additional 41,930 shares during the period. Empowered Funds LLC's holdings in General Mills were worth $11,074,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. MBB Public Markets I LLC bought a new position in shares of General Mills during the 1st quarter valued at approximately $327,000. Ascent Group LLC lifted its stake in General Mills by 38.0% in the 1st quarter. Ascent Group LLC now owns 92,443 shares of the company's stock worth $5,527,000 after purchasing an additional 25,443 shares in the last quarter. Kestra Investment Management LLC lifted its stake in General Mills by 1,729.0% in the 1st quarter. Kestra Investment Management LLC now owns 1,829 shares of the company's stock worth $109,000 after purchasing an additional 1,729 shares in the last quarter. Resources Management Corp CT ADV increased its holdings in shares of General Mills by 8.2% in the 1st quarter. Resources Management Corp CT ADV now owns 4,428 shares of the company's stock worth $265,000 after buying an additional 335 shares during the last quarter. Finally, UniSuper Management Pty Ltd increased its holdings in shares of General Mills by 3.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 51,847 shares of the company's stock worth $3,100,000 after buying an additional 1,700 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Price Performance

NYSE:GIS traded down $0.44 during trading hours on Monday, hitting $49.48. 1,821,691 shares of the stock traded hands, compared to its average volume of 5,552,460. The company has a quick ratio of 0.43, a current ratio of 0.67 and a debt-to-equity ratio of 1.38. General Mills, Inc. has a 1 year low of $48.29 and a 1 year high of $75.66. The company has a market cap of $26.84 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 1.26 and a beta of -0.02. The stock has a 50 day moving average price of $49.97 and a 200 day moving average price of $54.13.

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

General Mills Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, 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 4.9%. This is a positive change from General Mills's previous quarterly dividend of $0.60. The ex-dividend date was Thursday, July 10th. General Mills's dividend payout ratio (DPR) is presently 59.51%.

Analyst Ratings Changes

Several research firms recently commented on GIS. Morgan Stanley reduced their target price on shares of General Mills from $49.00 to $48.00 and set an "underweight" rating on the stock in a report on Monday. Barclays dropped their target price on shares of General Mills from $60.00 to $54.00 and set an "equal weight" rating for the company in a research report on Thursday, June 26th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $45.00 price target (down from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. The Goldman Sachs Group cut shares of General Mills from a "buy" rating to a "neutral" rating and lowered their price target for the company from $68.00 to $58.00 in a research report on Monday, June 9th. Finally, Wells Fargo & Company set a $53.00 target price on shares of General Mills and gave the stock an "equal weight" rating in a report on Thursday, June 26th. Four equities 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 stock. According to data from MarketBeat.com, General Mills has a consensus rating of "Hold" and a consensus target price of $58.93.

General Mills Company 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.