Federation des caisses Desjardins du Quebec Increases Stock Holdings in General Mills, Inc. $GIS

Key Points

• The Federation des caisses Desjardins du Quebec increased its holdings in General Mills, Inc. by 40.8% during the first quarter, now owning a total of 82,661 shares valued at approximately $4.94 million.
• General Mills recently announced a quarterly dividend increase to $0.61 per share, representing a 4.9% yield, with a payout ratio of 59.51%.
• Despite some analysts downgrading the stock from "hold" to "sell," General Mills has a current average price target of $59.13 with several analysts rating it as a "buy."

Federation des caisses Desjardins du Quebec increased its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 40.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,661 shares of the company's stock after acquiring an additional 23,942 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in General Mills were worth $4,943,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in shares of General Mills by 434.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company's stock worth $1,138,473,000 after acquiring an additional 15,480,835 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of General Mills by 8.1% in the 1st quarter. Ameriprise Financial Inc. now owns 9,864,819 shares of the company's stock worth $589,814,000 after acquiring an additional 741,432 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of General Mills by 10.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,986,128 shares of the company's stock worth $417,674,000 after acquiring an additional 634,393 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of General Mills by 8.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,846,576 shares of the company's stock worth $436,606,000 after acquiring an additional 561,731 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of General Mills by 6.9% in the 1st quarter. Invesco Ltd. now owns 6,403,879 shares of the company's stock worth $382,888,000 after acquiring an additional 414,768 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GIS has been the subject of a number of recent research reports. Wells Fargo & Company set a $53.00 target price on General Mills and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. UBS Group cut their target price on General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a research note on Thursday, June 26th. Wall Street Zen downgraded General Mills from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. Stifel Nicolaus cut their price objective on General Mills from $65.00 to $56.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and set a $45.00 price objective (down from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, General Mills currently has a consensus rating of "Hold" and an average price target of $59.13.

General Mills Trading Down 1.6%

Shares of NYSE:GIS traded down $0.79 during midday trading on Wednesday, reaching $49.56. 1,586,734 shares of the company's stock were exchanged, compared to its average volume of 5,568,369. The firm's 50 day simple moving average is $50.16 and its two-hundred day simple moving average is $54.39. General Mills, Inc. has a fifty-two week low of $48.29 and a fifty-two week high of $75.66. The stock has a market cap of $26.88 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 1.26 and a beta of -0.02. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.67 and a quick ratio of 0.43.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, June 25th. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates 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 period last year, the business posted $1.01 EPS. General Mills's revenue for the quarter was down 3.3% on a year-over-year basis. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. As a group, 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 announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were issued a dividend of $0.61 per share. This is a positive change from General Mills's previous quarterly dividend of $0.60. The ex-dividend date was Thursday, July 10th. This represents a $2.44 dividend on an annualized basis and a yield of 4.9%. 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.