General Mills, Inc. $GIS Shares Sold by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL has reduced its stake in General Mills by 2.3%, now holding 403,871 shares valued at approximately $24.15 million.
• Recent analyst ratings show a downgrade from Goldman Sachs and JPMorgan Chase, with Bank of America keeping a "buy" rating but lowering its target price.
• General Mills announced a quarterly dividend increase to $0.61 per share, boosting its annual dividend yield to 4.9%.

Gamco Investors INC. ET AL lessened its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 403,871 shares of the company's stock after selling 9,710 shares during the quarter. Gamco Investors INC. ET AL owned 0.07% of General Mills worth $24,147,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in GIS. Perkins Coie Trust Co boosted its holdings in General Mills by 69.2% in the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock valued at $31,000 after purchasing an additional 211 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in General Mills in the 1st quarter valued at approximately $34,000. GKV Capital Management Co. Inc. acquired a new stake in shares of General Mills during the 1st quarter valued at approximately $34,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of General Mills during the 1st quarter valued at approximately $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of General Mills during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 75.71% of the company's stock.

General Mills Trading Down 1.6%

GIS traded down $0.81 during trading on Thursday, hitting $48.44. The company's stock had a trading volume of 6,714,662 shares, compared to its average volume of 5,649,416. The firm's 50 day moving average price is $50.53 and its 200-day moving average price is $54.93. 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 cap of $26.27 billion, a PE ratio of 11.81, a PEG ratio of 1.24 and a beta of -0.01. General Mills, Inc. has a twelve month low of $48.29 and a twelve month high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. The company 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%.General Mills's revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 EPS. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. On average, analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on GIS. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $45.00 price target (down from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Royal Bank Of Canada upgraded shares of General Mills from a "sector perform" rating to an "outperform" rating and reduced their price target for the company from $67.00 to $63.00 in a research report on Thursday, June 26th. The Goldman Sachs Group downgraded shares of General Mills from a "buy" rating to a "neutral" rating and reduced their price target for the company from $68.00 to $58.00 in a research report on Monday, June 9th. 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. Finally, Barclays reduced their price target on shares of 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. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, General Mills has a consensus rating of "Hold" and an average target price of $59.13.

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.