General Mills, Inc. $GIS Stock Holdings Increased by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder increased its General Mills stake by 15.6% in the second quarter to 307,312 shares valued at approximately $10.7 million. Institutional investors collectively own 75.71% of the company.
• General Mills reported quarterly earnings of $0.95 per share, exceeding estimates of $0.80, while revenue rose 1.2% year over year to $4.61 billion.
• The company’s quarterly dividend is $0.61 per share, or $2.44 annualized, representing a 6.3% yield. Analysts maintain a consensus “Reduce” rating with an average price target of $39.16.

Handelsbanken Fonder AB boosted its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 15.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 307,312 shares of the company's stock after purchasing an additional 41,513 shares during the period. Handelsbanken Fonder AB owned approximately 0.06% of General Mills worth $10,694,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GIS. Wealthcare Advisory Partners LLC bought a new position in shares of General Mills in the second quarter valued at $209,000. HF Advisory Group LLC grew its holdings in shares of General Mills by 41.1% in the 2nd quarter. HF Advisory Group LLC now owns 83,336 shares of the company's stock worth $2,900,000 after acquiring an additional 24,281 shares during the last quarter. Affinity Capital Advisors LLC acquired a new position in shares of General Mills in the 2nd quarter worth $234,000. Valeo Financial Advisors LLC raised its position in shares of General Mills by 15.7% during the second quarter. Valeo Financial Advisors LLC now owns 37,953 shares of the company's stock worth $1,321,000 after purchasing an additional 5,158 shares during the period. Finally, Rockland Trust Co. raised its position in shares of General Mills by 54.7% during the second quarter. Rockland Trust Co. now owns 322,937 shares of the company's stock worth $11,238,000 after purchasing an additional 114,154 shares during the period. 75.71% of the stock is currently owned by institutional investors.

General Mills Trading Up 1.8%

Shares of NYSE GIS opened at $38.87 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. General Mills, Inc. has a one year low of $31.75 and a one year high of $51.33. The business has a 50-day moving average price of $35.98 and a two-hundred day moving average price of $37.96. The firm has a market capitalization of $20.75 billion, a PE ratio of -215.94 and a beta of -0.03.

General Mills (NYSE:GIS - Get Free Report) last issued its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.59 billion. During the same quarter in the prior year, the company earned $0.53 EPS. The firm's quarterly revenue was up 1.2% on a year-over-year basis. 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 3.07 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a yield of 6.3%. General Mills's dividend payout ratio (DPR) is presently -1,355.56%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GIS. Deutsche Bank Aktiengesellschaft increased their price target on General Mills from $32.00 to $33.00 and gave the company a "hold" rating in a research report on Thursday, July 2nd. Stifel Nicolaus reduced their price objective on shares of General Mills from $44.00 to $40.00 and set a "buy" rating for the company in a research note on Tuesday, April 21st. Wells Fargo & Company raised their target price on shares of General Mills from $30.00 to $33.00 and gave the stock an "underweight" rating in a report on Thursday, July 2nd. Bank of America lifted their target price on shares of General Mills from $36.00 to $39.00 and gave the stock a "neutral" rating in a research report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of General Mills from $31.00 to $35.00 and gave the company an "underweight" rating in a report on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $39.16.

General Mills Company 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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