FORA Capital LLC Increases Stake in General Mills, Inc. $GIS

Key Points

• FORA Capital LLC increased its holdings in General Mills by 75.8% in the first quarter, acquiring an additional 23,304 shares, bringing its total to 54,052 shares valued at $3.23 million.
• General Mills is facing challenges, with a 3.3% decline in revenue compared to the previous year, despite reporting an earnings per share (EPS) of $0.74 that surpassed analysts' expectations.
• The company recently increased its quarterly dividend to $0.61, reflecting a strong dividend yield of 4.9% and a payout ratio of 59.51%.

FORA Capital LLC lifted its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 75.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 54,052 shares of the company's stock after acquiring an additional 23,304 shares during the quarter. FORA Capital LLC's holdings in General Mills were worth $3,232,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in General Mills by 7.3% during the first quarter. Victory Capital Management Inc. now owns 522,576 shares of the company's stock worth $31,245,000 after purchasing an additional 35,494 shares during the period. Ameriprise Financial Inc. boosted its holdings in General Mills by 34.5% in the 4th quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company's stock worth $581,903,000 after buying an additional 2,341,137 shares during the period. Commonwealth Equity Services LLC grew its stake in General Mills by 7.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company's stock valued at $27,076,000 after buying an additional 32,628 shares in the last quarter. Rock Point Advisors LLC bought a new stake in General Mills during the 1st quarter valued at $3,610,000. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of General Mills by 126.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 774,134 shares of the company's stock worth $46,285,000 after acquiring an additional 431,693 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GIS has been the subject of several recent research reports. Barclays reduced their price target on 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. Wall Street Zen upgraded General Mills from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. The Goldman Sachs Group lowered shares of General Mills from a "buy" rating to a "neutral" rating and cut their price objective for the company from $68.00 to $58.00 in a research report on Monday, June 9th. Wells Fargo & Company set a $53.00 target price on shares of General Mills and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. Finally, UBS Group reduced their price target on shares of General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a research report on Thursday, June 26th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $59.13.

General Mills Price Performance

GIS stock traded down $0.81 during mid-day trading on Thursday, hitting $48.44. 6,714,662 shares of the stock were exchanged, compared to its average volume of 5,649,416. The business has a fifty day moving average price of $50.53 and a 200 day moving average price of $54.93. General Mills, Inc. has a 12 month low of $48.29 and a 12 month high of $75.90. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.67 and a quick ratio of 0.43. The stock has a market capitalization of $26.27 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.24 and a beta of -0.01.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. The company had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $4.60 billion. General Mills had a return on equity of 24.88% and a net margin of 11.78%.General Mills's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period last year, the firm posted $1.01 EPS. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. On average, sell-side analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Thursday, July 10th. This is a boost from General Mills's previous quarterly dividend of $0.60. General Mills's dividend payout ratio is 59.51%.

About General Mills

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.