Gabelli Funds LLC Sells 14,750 Shares of General Mills, Inc. $GIS

Key Points

• Gabelli Funds LLC reduced its stake in General Mills by 6.6%, selling 14,750 shares, bringing their total holdings to 207,600 shares valued at approximately $12.4 million.
• Several institutional investors increased their positions, with Caisse DE Depot ET Placement DU Quebec boosting their stake by 31.7% to 798,485 shares, valued at about $47.7 million.
• General Mills declared a quarterly dividend of $0.61 per share, representing a 5.0% dividend yield, which reflects a slight increase from the previous dividend of $0.60.

Gabelli Funds LLC lessened its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 6.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 207,600 shares of the company's stock after selling 14,750 shares during the quarter. Gabelli Funds LLC's holdings in General Mills were worth $12,412,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FORA Capital LLC boosted its stake in shares of General Mills by 75.8% in the 1st quarter. FORA Capital LLC now owns 54,052 shares of the company's stock valued at $3,232,000 after purchasing an additional 23,304 shares in the last quarter. Widmann Financial Services Inc. increased its stake in shares of General Mills by 7.8% in the 1st quarter. Widmann Financial Services Inc. now owns 17,446 shares of the company's stock valued at $1,043,000 after acquiring an additional 1,263 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in General Mills by 31.7% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 798,485 shares of the company's stock worth $47,741,000 after purchasing an additional 192,122 shares in the last quarter. Apexium Financial LP bought a new stake in General Mills during the 1st quarter worth approximately $868,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in General Mills during the 1st quarter worth approximately $2,232,000. Institutional investors and hedge funds own 75.71% of the company's stock.

Analyst Ratings Changes

GIS has been the subject of several recent analyst reports. UBS Group cut their price objective on General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a report on Thursday, June 26th. Barclays lowered their price objective on General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock 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. Wells Fargo & Company set a $53.00 price target on General Mills and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and issued a $45.00 price target (down previously from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $59.13.

General Mills Price Performance

Shares of GIS opened at $49.28 on Thursday. The firm has a market cap of $26.73 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.24 and a beta of -0.01. General Mills, Inc. has a 52-week low of $48.59 and a 52-week high of $75.90. The business's 50 day moving average price is $50.62 and its two-hundred day moving average price is $55.00. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.43 and a current ratio of 0.67.

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

General Mills Increases Dividend

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

General Mills Company 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.

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