General Mills, Inc. $GIS Shares Acquired by Advisors Capital Management LLC

Key Points

• Advisors Capital Management LLC increased its stake in General Mills, Inc. by 9.7%, owning 236,381 shares worth approximately $14.1 million.
• Multiple hedge funds adjusted their holdings in General Mills, highlighting a broad interest with institutional investors owning 75.71% of the stock.
• General Mills raised its quarterly dividend to $0.61 per share, reflecting a strong annualized dividend yield of 4.8% amid a recent earnings report that showed mixed performance.

Advisors Capital Management LLC lifted its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 9.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 236,381 shares of the company's stock after buying an additional 20,810 shares during the period. Advisors Capital Management LLC's holdings in General Mills were worth $14,133,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Janus Henderson Group PLC lifted its position in General Mills by 5.9% in the fourth quarter. Janus Henderson Group PLC now owns 90,678 shares of the company's stock valued at $5,781,000 after purchasing an additional 5,090 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in General Mills by 2.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 126,237 shares of the company's stock valued at $8,046,000 after purchasing an additional 2,950 shares during the period. OMERS ADMINISTRATION Corp lifted its position in General Mills by 20.1% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 23,687 shares of the company's stock valued at $1,511,000 after purchasing an additional 3,963 shares during the period. NorthRock Partners LLC acquired a new stake in General Mills in the fourth quarter valued at about $546,000. Finally, Nomura Holdings Inc. lifted its position in General Mills by 261.0% in the fourth quarter. Nomura Holdings Inc. now owns 24,723 shares of the company's stock valued at $1,577,000 after purchasing an additional 17,874 shares during the period. Institutional investors and hedge funds own 75.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group downgraded shares of General Mills from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $68.00 to $58.00 in a research report on Monday, June 9th. Royal Bank Of Canada upgraded shares of General Mills from a "sector perform" rating to an "outperform" rating and reduced their price objective for the company from $67.00 to $63.00 in a research report on Thursday, June 26th. Wells Fargo & Company set a $53.00 price target on shares of General Mills and gave the company an "equal weight" rating in a research report on Thursday, June 26th. 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. Finally, Bank of America reduced their price target on shares of General Mills from $63.00 to $61.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $59.13.

General Mills Trading Up 1.2%

Shares of GIS opened at $50.61 on Friday. 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 firm has a 50 day simple moving average of $50.04 and a 200-day simple moving average of $54.29. General Mills, Inc. has a 1-year low of $48.29 and a 1-year high of $75.66. The stock has a market cap of $27.45 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 1.26 and a beta of -0.02.

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

General Mills Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a dividend of $0.61 per share. This is a positive change from General Mills's previous quarterly dividend of $0.60. 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 4.8%. General Mills's dividend payout ratio is 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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