AlTi Global Inc. Sells 55,084 Shares of General Mills, Inc. $GIS

Key Points

• AlTi Global Inc. significantly reduced its stake in General Mills by 91.5%, holding only 5,090 shares after selling 55,084 shares, with holdings valued at $304,000.
• General Mills reported a quarterly earnings per share (EPS) of $0.74, exceeding analysts' expectations, but its revenue declined 3.3% year-over-year to $4.56 billion.
• The company recently declared a quarterly dividend of $0.61 per share, raising its annual yield to 4.9%, up from the previous dividend of $0.60.

AlTi Global Inc. trimmed its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 91.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,090 shares of the company's stock after selling 55,084 shares during the quarter. AlTi Global Inc.'s holdings in General Mills were worth $304,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Victory Capital Management Inc. grew its stake in General Mills by 7.3% in the first quarter. Victory Capital Management Inc. now owns 522,576 shares of the company's stock valued at $31,245,000 after acquiring an additional 35,494 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of General Mills by 7.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company's stock valued at $27,076,000 after purchasing an additional 32,628 shares in the last quarter. Rock Point Advisors LLC acquired a new position in shares of General Mills in the 1st quarter valued at approximately $3,610,000. OVERSEA CHINESE BANKING Corp Ltd increased its stake in General Mills by 126.1% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 774,134 shares of the company's stock worth $46,285,000 after purchasing an additional 431,693 shares in the last quarter. Finally, Quantbot Technologies LP raised its holdings in General Mills by 978.0% during the 1st quarter. Quantbot Technologies LP now owns 134,914 shares of the company's stock worth $8,067,000 after buying an additional 122,399 shares during the period. Institutional investors own 75.71% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Zacks Research upgraded shares of General Mills from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. Barclays cut their price objective on shares of General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 26th. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $45.00 target price (down previously from $53.00) on shares of General Mills in a report on Wednesday, August 20th. Royal Bank Of Canada raised General Mills from a "sector perform" rating to an "outperform" rating and dropped their price target for the company from $67.00 to $63.00 in a research note on Thursday, June 26th. Finally, UBS Group reduced their price objective on General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a research report on Thursday, June 26th. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $59.13.

General Mills Stock Performance

NYSE GIS traded up $0.91 during trading on Friday, reaching $50.52. 5,352,181 shares of the company's stock were exchanged, compared to its average volume of 5,516,236. General Mills, Inc. has a fifty-two week low of $48.29 and a fifty-two week high of $75.90. The business has a 50 day moving average price of $50.26 and a 200-day moving average price of $54.53. 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 stock has a market capitalization of $27.40 billion, a P/E ratio of 12.32, a PEG ratio of 1.28 and a beta of -0.02.

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

General Mills Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Thursday, July 10th. This is an increase from General Mills's previous quarterly dividend of $0.60. General Mills's payout ratio is 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.