Flputnam Investment Management Co. Invests $1.18 Million in General Mills, Inc. $GIS

Key Points

• Flputnam Investment Management bought 33,903 General Mills shares worth approximately $1.18 million in the second quarter. Institutional investors collectively own 75.71% of the company.
• Analyst sentiment remains cautious: General Mills has a consensus “Reduce” rating and an average price target of $39.16, with four Buy, twelve Hold, and six Sell ratings.
• General Mills exceeded quarterly earnings expectations, reporting $0.95 EPS versus the $0.80 consensus and $4.61 billion in revenue. The company also paid a quarterly dividend of $0.61 per share, equivalent to a 6.4% annualized yield.

Flputnam Investment Management Co. bought a new stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 33,903 shares of the company's stock, valued at approximately $1,180,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of GIS. Reflection Asset Management purchased a new position in shares of General Mills in the 4th quarter worth $25,000. Nalls Sherbakoff Group LLC purchased a new stake in shares of General Mills during the 4th quarter valued at about $26,000. Brown Shipley& Co Ltd purchased a new stake in shares of General Mills during the 1st quarter valued at about $26,000. Bruce G. Allen Investments LLC lifted its holdings in shares of General Mills by 139.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company's stock valued at $27,000 after acquiring an additional 337 shares during the last quarter. Finally, Main Street Group LTD purchased a new position in General Mills in the first quarter worth about $27,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Sanford C. Bernstein cut General Mills from a "market perform" rating to an "underperform" rating and set a $31.00 price objective on the stock. in a research note on Wednesday, June 3rd. Bank of America raised their price objective on General Mills from $36.00 to $39.00 and gave the company a "neutral" rating in a research note on Thursday, July 2nd. Barclays dropped their target price on General Mills from $41.00 to $36.00 and set an "equal weight" rating for the company in a report on Monday, May 11th. JPMorgan Chase & Co. boosted their target price on General Mills from $31.00 to $35.00 and gave the company an "underweight" rating in a research 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $39.16.

General Mills Stock Down 3.2%

Shares of NYSE GIS opened at $37.94 on Tuesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. The company has a market cap of $20.25 billion, a P/E ratio of -210.77 and a beta of -0.03. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $51.33. The firm has a 50-day simple moving average of $36.20 and a two-hundred day simple moving average of $37.87.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.59 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Research analysts anticipate that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend was Friday, July 10th. General Mills's dividend payout ratio is -1,355.56%.

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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