General Mills, Inc. $GIS Shares Purchased by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its holdings in General Mills by 5.6% in the 1st quarter, owning 194,074 shares valued at approximately $11.6 million.
• General Mills recently reported earnings of $0.74 per share, surpassing analysts' expectations, but its revenue declined by 3.3% compared to the previous year.
• The company announced an increase in its quarterly dividend to $0.61 per share, reflecting a 4.9% yield and a dividend payout ratio of 59.51%.

Intech Investment Management LLC boosted its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 5.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 194,074 shares of the company's stock after acquiring an additional 10,213 shares during the quarter. Intech Investment Management LLC's holdings in General Mills were worth $11,604,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GIS. Perkins Coie Trust Co boosted its stake in shares of General Mills by 69.2% in the first quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock worth $31,000 after acquiring an additional 211 shares during the period. Smallwood Wealth Investment Management LLC bought a new position in General Mills in the first quarter worth approximately $34,000. GKV Capital Management Co. Inc. bought a new position in General Mills in the first quarter worth approximately $34,000. Heck Capital Advisors LLC bought a new position in General Mills in the fourth quarter worth approximately $38,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in General Mills in the first quarter worth approximately $37,000. Institutional investors own 75.71% of the company's stock.

Analyst Ratings Changes

GIS has been the topic of several research analyst reports. Stifel Nicolaus dropped their price objective on General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. UBS Group decreased their price objective on General Mills from $52.00 to $49.00 and set a "sell" rating on the stock in a report on Thursday, June 26th. Barclays decreased their price objective on General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a report on Thursday, June 26th. Zacks Research upgraded General Mills from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. Finally, Bank of America decreased their price objective on General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $59.13.

General Mills Stock Down 1.4%

Shares of General Mills stock traded down $0.69 during trading hours on Friday, reaching $49.92. 4,339,821 shares of the company were exchanged, compared to its average volume of 5,420,163. General Mills, Inc. has a 1 year low of $48.29 and a 1 year high of $75.66. The stock's fifty day moving average is $49.97 and its 200 day moving average is $54.21. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.43 and a current ratio of 0.67. The firm has a market cap of $27.08 billion, a PE ratio of 12.18, a PEG ratio of 1.28 and a beta of -0.02.

General Mills (NYSE:GIS - Get Free Report) last posted 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 return on equity of 24.88% and a net margin of 11.78%.The business had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same quarter in the prior year, the company earned $1.01 earnings per share. 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. As a group, equities research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a dividend of $0.61 per share. This is an increase from General Mills's previous quarterly dividend of $0.60. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Thursday, July 10th. General Mills's dividend payout ratio is currently 59.51%.

About General Mills

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.