General Mills, Inc. $GIS Shares Acquired by KBC Group NV

Key Points

• KBC Group NV increased its stake in General Mills by 40.5% in the first quarter, buying an additional 222,602 shares and bringing its holdings to 771,730 shares worth about $28.7 million.
• General Mills reported better-than-expected quarterly results, posting EPS of $0.95 versus the $0.80 consensus and revenue of $4.61 billion, up 1.2% year over year.
• The company declared a quarterly dividend of $0.61 per share, which annualizes to $2.44 and implies a 6.6% yield based on the article's pricing data.

KBC Group NV lifted its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 40.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 771,730 shares of the company's stock after purchasing an additional 222,602 shares during the period. KBC Group NV owned about 0.14% of General Mills worth $28,724,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the completion of the transaction, the insider owned 62,283 shares in the company, valued at approximately $2,148,763.50. This represents a 11.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the sale, the insider owned 86,002 shares of the company's stock, valued at $2,947,288.54. This trade represents a 10.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GIS has been the subject of several recent analyst reports. Jefferies Financial Group boosted their price objective on shares of General Mills from $33.00 to $36.00 and gave the stock a "hold" rating in a research report on Wednesday, July 1st. Bank of America lifted their price target on shares of General Mills from $36.00 to $39.00 and gave the stock a "neutral" rating in a research note on Thursday, July 2nd. Morgan Stanley reduced their target price on General Mills from $37.00 to $32.00 and set an "underweight" rating for the company in a report on Friday, June 5th. BTIG Research started coverage on General Mills in a research note on Monday, April 13th. They set a "neutral" rating on the stock. Finally, TD Cowen cut their price target on General Mills from $32.00 to $31.00 and set a "hold" rating on the stock in a research report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $39.16.

General Mills Stock Down 1.0%

GIS opened at $37.21 on Wednesday. General Mills, Inc. has a 52 week low of $31.75 and a 52 week high of $51.68. The business has a 50 day moving average price of $34.79 and a two-hundred day moving average price of $38.88. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. The company has a market cap of $19.86 billion, a PE ratio of -206.69 and a beta of -0.03.

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

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Friday, July 10th. General Mills's payout ratio is currently -1,355.56%.

General Mills 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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