General Mills, Inc. $GIS Shares Purchased by Greenleaf Trust

Key Points

• Greenleaf Trust increased its General Mills position by 252.5% in the second quarter, adding 28,928 shares to own 40,384 shares valued at approximately $1.4 million. Institutional investors collectively own 75.71% of the company.
• Analyst sentiment remains cautious: General Mills has an average “Reduce” rating and a consensus price target of $39.16, with 4 Buy, 12 Hold, and 6 Sell ratings.
• General Mills exceeded quarterly expectations with EPS of $0.95 versus a $0.80 estimate and revenue of $4.61 billion. The company also declared a quarterly dividend of $0.61 per share, representing an annualized yield of about 6.3%.

Greenleaf Trust grew its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 252.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,384 shares of the company's stock after purchasing an additional 28,928 shares during the period. Greenleaf Trust's holdings in General Mills were worth $1,405,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GIS. Reflection Asset Management acquired a new position in shares of General Mills in the fourth quarter valued at approximately $25,000. Nalls Sherbakoff Group LLC acquired a new stake in General Mills during the fourth quarter worth approximately $26,000. Brown Shipley& Co Ltd purchased a new stake in General Mills in the 1st quarter worth approximately $26,000. Bruce G. Allen Investments LLC grew its stake in General Mills by 139.8% in 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 during the period. Finally, Main Street Group LTD acquired a new position in General Mills in the 1st quarter valued at $27,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GIS. Piper Sandler reduced their price target on General Mills from $45.00 to $41.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. BNP Paribas Exane upped their target price on General Mills from $37.00 to $38.00 and gave the company a "neutral" rating in a research note on Thursday, July 2nd. UBS Group set a $33.00 target price on General Mills in a research report on Monday, July 6th. Stifel Nicolaus decreased their price target on General Mills from $44.00 to $40.00 and set a "buy" rating on the stock in a research note on Tuesday, April 21st. Finally, Zacks Research upgraded General Mills from a "strong sell" rating to a "hold" rating in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $39.16.

General Mills Stock Performance

NYSE:GIS opened at $38.87 on Friday. The company has a market cap of $20.75 billion, a P/E ratio of -215.94 and a beta of -0.03. The firm's 50 day moving average is $35.98 and its two-hundred day moving average is $37.96. General Mills, Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $51.33. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.15. The company had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.59 billion. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The business's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Analysts expect that General Mills, Inc. will post 3.07 EPS for the current year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend was Friday, July 10th. General Mills's payout ratio is -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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