General Mills, Inc. $GIS Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in General Mills, Inc. by 30.1%, selling over 1.3 million shares during the first quarter, leaving them with approximately 3.2 million shares valued at $191.2 million.
• General Mills reported earnings of $0.74 EPS for the last quarter, surpassing analyst estimates, though revenue decreased by 3.3% compared to the previous year, totaling $4.56 billion.
• The company recently increased its quarterly dividend to $0.61 per share, reflecting a positive change from $0.60, and representing an annualized yield of 4.9%.

Goldman Sachs Group Inc. lessened its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 30.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,197,278 shares of the company's stock after selling 1,378,324 shares during the quarter. Goldman Sachs Group Inc. owned about 0.58% of General Mills worth $191,165,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Perpetual Ltd increased its stake in shares of General Mills by 3.5% in the first quarter. Perpetual Ltd now owns 5,411 shares of the company's stock worth $324,000 after acquiring an additional 184 shares during the period. Conning Inc. grew its position in General Mills by 4.6% during the 1st quarter. Conning Inc. now owns 4,212 shares of the company's stock worth $252,000 after purchasing an additional 185 shares during the period. Benjamin Edwards Inc. raised its stake in shares of General Mills by 0.4% during the 1st quarter. Benjamin Edwards Inc. now owns 52,298 shares of the company's stock valued at $3,127,000 after buying an additional 185 shares during the last quarter. Eastern Bank lifted its holdings in shares of General Mills by 0.8% in the 1st quarter. Eastern Bank now owns 24,817 shares of the company's stock valued at $1,484,000 after buying an additional 186 shares during the period. Finally, SPC Financial Inc. boosted its stake in shares of General Mills by 1.5% in the first quarter. SPC Financial Inc. now owns 13,452 shares of the company's stock worth $804,000 after buying an additional 193 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Trading Down 0.7%

Shares of General Mills stock opened at $50.01 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.43 and a debt-to-equity ratio of 1.38. General Mills, Inc. has a twelve month low of $48.29 and a twelve month high of $75.66. The firm has a market capitalization of $27.13 billion, a PE ratio of 12.20, a P/E/G ratio of 1.27 and a beta of -0.02. The firm's 50-day moving average price is $50.09 and its 200 day moving average price is $54.36.

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

General Mills Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $45.00 price target (down from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. UBS Group dropped their price objective on shares of General Mills from $52.00 to $49.00 and set a "sell" rating on the stock in a research note on Thursday, June 26th. Barclays decreased their target price on shares of General Mills from $60.00 to $54.00 and set an "equal weight" rating for the company in a research note on Thursday, June 26th. Bank of America dropped their price target on shares of General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Finally, The Goldman Sachs Group cut shares of General Mills from a "buy" rating to a "neutral" rating and cut their price objective for the company from $68.00 to $58.00 in a report on Monday, June 9th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, General Mills has an average rating of "Hold" and an average target price of $59.13.

General Mills Profile

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.

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