FinArc Investments Inc. Acquires Shares of 28,143 General Mills, Inc. $GIS

Key Points

• FinArc Investments acquired 28,143 General Mills shares worth approximately $1.05 million during the first quarter, making GIS about 1% of its portfolio. Institutional investors collectively own 75.71% of the company.
• General Mills exceeded quarterly expectations, reporting $0.95 in earnings per share versus the $0.80 consensus estimate and $4.61 billion in revenue. The company also declared a quarterly dividend of $0.61 per share, representing a 6.7% annualized yield.
• General Mills shares opened at $36.47, down 3.8%, while analysts maintained a largely cautious outlook: the stock has an average “Reduce” rating and a consensus price target of $39.16. Two company insiders also sold shares in May.

FinArc Investments Inc. bought a new stake in General Mills, Inc. (NYSE:GIS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 28,143 shares of the company's stock, valued at approximately $1,047,000. General Mills accounts for about 1.0% of FinArc Investments Inc.'s portfolio, making the stock its 29th biggest position.

Several other institutional investors have also recently made changes to their positions in the company. Reflection Asset Management bought a new position in General Mills during the 4th quarter valued at about $25,000. Nalls Sherbakoff Group LLC bought a new stake in General Mills in the fourth quarter worth about $26,000. Brown Shipley& Co Ltd purchased a new position in shares of General Mills during the first quarter valued at approximately $26,000. Bruce G. Allen Investments LLC boosted its position in shares of General Mills by 139.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company's stock valued at $27,000 after buying an additional 337 shares during the period. Finally, Main Street Group LTD bought a new position in shares of General Mills during the first quarter valued at approximately $27,000. Institutional investors own 75.71% of the company's stock.

Insider Buying and Selling at General Mills

In related news, insider Ricardo Fernandez sold 7,995 shares of General Mills stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the completion of the sale, the insider directly owned 62,283 shares in the company, valued at $2,148,763.50. The trade was a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the sale, the insider owned 86,002 shares of the company's stock, valued at $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.30% of the company's stock.

General Mills Stock Down 3.8%

Shares of NYSE GIS opened at $36.47 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68. The firm has a market capitalization of $19.46 billion, a price-to-earnings ratio of -202.61 and a beta of -0.03. The stock has a 50 day moving average price of $35.26 and a 200 day moving average price of $38.50. General Mills, Inc. has a 52-week low of $31.75 and a 52-week high of $51.33.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.80 by $0.15. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.General Mills's quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Sell-side analysts expect that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.7%. General Mills's dividend payout ratio is presently -1,355.56%.

Wall Street Analysts Forecast Growth

GIS has been the topic of several recent analyst reports. Bank of America increased their price target on General Mills from $36.00 to $39.00 and gave the stock a "neutral" rating in a report on Thursday, July 2nd. BNP Paribas Exane upped their price objective on General Mills from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Thursday, July 2nd. The Goldman Sachs Group reiterated a "neutral" rating and issued a $36.00 target price on shares of General Mills in a research note on Tuesday, June 2nd. Weiss Ratings upgraded General Mills from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, July 2nd. Finally, TD Cowen lowered their target price on shares of General Mills from $32.00 to $31.00 and set a "hold" rating for the company in a research note on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat.com, General Mills currently has an average rating of "Reduce" and an average price target of $39.16.

General Mills Company 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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