Envestnet Asset Management Inc. Sells 144,086 Shares of General Mills, Inc. $GIS

Key Points

• Envestnet Asset Management cut its General Mills position by 25.1%, selling 144,086 shares in the second quarter and retaining 428,921 shares worth approximately $14.9 million.
• Analyst sentiment remains cautious, with a consensus rating of “Reduce” and an average price target of $36.59; ratings include four Buys, ten Holds, and six Sells.
• General Mills reported weak quarterly results, including a 2.8% year-over-year revenue decline to $4.39 billion and sharply lower net income, though it declared a $0.61-per-share quarterly dividend.

Envestnet Asset Management Inc. lowered its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 25.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 428,921 shares of the company's stock after selling 144,086 shares during the quarter. Envestnet Asset Management Inc. owned 0.08% of General Mills worth $14,926,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Reflection Asset Management acquired a new position in General Mills during the fourth quarter worth $25,000. Nalls Sherbakoff Group LLC acquired a new position in shares of General Mills during the 4th quarter worth $26,000. Brown Shipley& Co Ltd acquired a new position in shares of General Mills during the 1st quarter worth $26,000. Silvant Capital Management LLC purchased a new position in shares of General Mills in the 2nd quarter valued at about $26,000. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of General Mills by 139.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company's stock valued at $27,000 after purchasing an additional 337 shares during the period. Institutional investors and hedge funds own 75.71% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on GIS shares. Morgan Stanley lowered their target price on shares of General Mills from $37.00 to $32.00 and set an "underweight" rating on the stock in a research report on Friday, June 5th. Evercore set a $38.00 price target on shares of General Mills in a research report on Monday, September 14th. TD Cowen boosted their price target on General Mills from $32.00 to $33.00 and gave the stock a "hold" rating in a research note on Thursday, September 24th. Weiss Ratings upgraded General Mills from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, July 2nd. Finally, Sanford C. Bernstein restated an "underperform" rating and issued a $30.00 price target on shares of General Mills in a report on Thursday, September 24th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $36.59.

Key General Mills News

Here are the key news stories impacting General Mills this week:

• Positive Sentiment: General Mills declared its regular quarterly dividend of $0.61 per share, payable November 2 to shareholders of record October 13. The dividend implies an annualized payout of $2.44 and a yield of roughly 7.3%, while the company and its predecessor have maintained uninterrupted dividends for 128 years. General Mills Quarterly Dividend Declared
• Positive Sentiment: The board unanimously selected Chief Operating Officer Dana McNabb as CEO effective January 1, 2027. Her 27 years at General Mills and current operating role could provide continuity as the company works to improve execution and return to profitable growth. General Mills names insider McNabb as CEO
• Neutral Sentiment: Current CEO Jeff Harmening will become executive chair, potentially preserving strategic knowledge during the transition. However, the internal succession offers limited evidence of a substantial change in strategy, which may disappoint investors seeking a more aggressive turnaround plan. General Mills Announces Dana McNabb as Chief Executive Officer
• Neutral Sentiment: Analysts’ consensus price target is approximately $36.59, above recent trading levels, suggesting potential upside if the turnaround gains traction. That view remains dependent on improving sales and profitability.
• Negative Sentiment: Fiscal first-quarter performance remained weak: revenue fell 2.8% year over year to about $4.39 billion, while net income dropped to $397 million from $1.20 billion. Reported earnings per share declined to $0.74 from $2.22, reinforcing concerns about profit pressure despite adjusted EPS modestly exceeding estimates. Does General Mills’ Steep Profit Drop Shift the Bull Case?
• Negative Sentiment: General Mills has completed its previously announced $4.93 billion share-repurchase program, eliminating a potential source of future per-share support while the business continues to face sluggish demand and a lengthy recovery path.

General Mills Stock Down 5.0%

Shares of NYSE GIS opened at $32.14 on Thursday. The firm's 50-day moving average is $37.41 and its two-hundred day moving average is $36.10. The company has a market capitalization of $17.19 billion, a PE ratio of -19.36, a price-to-earnings-growth ratio of 1.83 and a beta of -0.01. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $51.26. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.70 and a quick ratio of 0.39.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings data on Wednesday, September 23rd. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. General Mills had a negative net margin of 4.89% and a positive return on equity of 21.86%. The business had revenue of $4.39 billion during the quarter, compared to analysts' expectations of $4.35 billion. During the same period last year, the company posted $0.86 EPS. The company's revenue was down 2.8% on a year-over-year basis. Equities analysts anticipate that General Mills, Inc. will post 3.08 EPS for the current fiscal year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Tuesday, October 13th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date is Tuesday, October 13th. General Mills's dividend payout ratio is -146.99%.

About General Mills

General Mills, Inc is a global food company that manufactures and markets branded consumer foods. Its products include cereal, snack bars, refrigerated dough, baking mixes, yogurt, soup, meals, frozen foods, and pet food, serving retail, foodservice, and pet channels.

The company's portfolio includes well-known brands such as Cheerios, Betty Crocker, Pillsbury, Nature Valley, Yoplait, Häagen-Dazs, Old El Paso, Progresso, Totino's, Annie's, and Blue Buffalo. General Mills sells its products primarily in the United States and also serves consumers in international markets across multiple regions.

General Mills traces its history to the Minneapolis Milling Company, established in 1856, and adopted the General Mills name following a 1928 combination of several milling businesses.

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