General Mills, Inc. $GIS Shares Acquired by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd increased its General Mills stake by 267.1% in Q1, bringing its holdings to 87,939 shares valued at about $3.27 million.
• General Mills reported better-than-expected quarterly results, posting $0.95 EPS versus the $0.80 estimate and revenue of $4.61 billion, slightly above forecasts.
• The company declared a quarterly dividend of $0.61 per share, equating to an annualized yield of about 6.6%, while analysts remain cautious overall with an average rating of “Reduce.”

Y Intercept Hong Kong Ltd lifted its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 267.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,939 shares of the company's stock after purchasing an additional 63,987 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in General Mills were worth $3,273,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LBP AM SA purchased a new stake in shares of General Mills in the 4th quarter valued at $2,639,000. Oak Thistle LLC purchased a new stake in General Mills during the fourth quarter worth about $1,320,000. Robeco Institutional Asset Management B.V. lifted its position in shares of General Mills by 1,824.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 895,225 shares of the company's stock worth $41,628,000 after purchasing an additional 848,712 shares in the last quarter. Korea Investment CORP lifted its position in shares of General Mills by 161.9% during the third quarter. Korea Investment CORP now owns 333,199 shares of the company's stock worth $16,800,000 after purchasing an additional 205,981 shares in the last quarter. Finally, HF Advisory Group LLC boosted its stake in shares of General Mills by 550.2% in the fourth quarter. HF Advisory Group LLC now owns 79,156 shares of the company's stock valued at $3,681,000 after purchasing an additional 66,981 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Mizuho reduced their target price on shares of General Mills from $47.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, March 19th. Stifel Nicolaus dropped their price objective on shares of General Mills from $44.00 to $40.00 and set a "buy" rating on the stock in a research note on Tuesday, April 21st. Bank of America boosted their price target on General Mills from $36.00 to $39.00 and gave the company a "neutral" rating in a research report on Thursday, July 2nd. TD Cowen decreased their price objective on General Mills from $32.00 to $31.00 and set a "hold" rating for the company in a research report on Thursday. Finally, Jefferies Financial Group boosted their target price on General Mills from $33.00 to $36.00 and gave the company a "hold" rating in a report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $39.16.

Insider Transactions at General Mills

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

General Mills Price Performance

General Mills stock traded up $1.03 during trading hours on Tuesday, hitting $37.15. The stock had a trading volume of 3,216,094 shares, compared to its average volume of 9,509,174. The stock has a market capitalization of $19.83 billion, a price-to-earnings ratio of -206.24 and a beta of -0.03. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. General Mills, Inc. has a 1-year low of $31.75 and a 1-year high of $52.51. The stock's fifty day moving average is $34.28 and its two-hundred day moving average is $39.75.

General Mills (NYSE:GIS - Get Free Report) last released its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, topping 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 firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.59 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, analysts predict that General Mills, Inc. will post 3.06 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.44 annualized dividend and a dividend yield of 6.6%. 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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