Aberdeen Group plc Sells 1,813,993 Shares of General Mills, Inc. $GIS

Key Points

• Aberdeen Group plc has significantly reduced its stake in General Mills, selling 1,813,993 shares, which corresponds to a 76.0% decrease in its holdings during the first quarter.
• General Mills reported earnings of $0.74 per share for the last quarter, exceeding analysts' expectations, despite a revenue decline of 3.3% year-over-year to $4.56 billion.
• The company recently increased its quarterly dividend to $0.61 per share, representing a yield of 4.9%, up from the previous dividend of $0.60.

Aberdeen Group plc reduced its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 76.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 572,703 shares of the company's stock after selling 1,813,993 shares during the quarter. Aberdeen Group plc owned 0.10% of General Mills worth $34,325,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Perkins Coie Trust Co boosted its position in General Mills by 69.2% in the first quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock valued at $31,000 after buying an additional 211 shares in the last quarter. Transce3nd LLC bought a new position in General Mills in the fourth quarter valued at about $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of General Mills during the first quarter valued at about $34,000. GKV Capital Management Co. Inc. bought a new stake in shares of General Mills during the first quarter worth about $34,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in General Mills in the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 75.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GIS shares. Morgan Stanley reaffirmed an "underweight" rating and set a $51.00 price target (down previously from $53.00) on shares of General Mills in a research note on Tuesday, June 24th. Royal Bank Of Canada upgraded General Mills from a "sector perform" rating to an "outperform" rating and reduced their price target for the company from $67.00 to $63.00 in a research report on Thursday, June 26th. Barclays cut their price objective on General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 26th. Wells Fargo & Company set a $53.00 price target on shares of General Mills and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Finally, Bank of America dropped their target price on shares of General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Four investment analysts have rated the stock with a Buy rating, eight have issued 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 a consensus target price of $59.13.

General Mills Stock Up 0.5%

Shares of NYSE GIS traded up $0.2580 during midday trading on Friday, hitting $50.0680. 1,442,821 shares of the stock traded hands, compared to its average volume of 5,568,068. The company has a market cap of $27.16 billion, a PE ratio of 12.22, a P/E/G ratio of 1.25 and a beta of -0.01. The business has a 50 day moving average price of $50.92 and a two-hundred day moving average price of $55.26. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.43 and a current ratio of 0.67. General Mills, Inc. has a one year low of $48.59 and a one year high of $75.90.

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 for the quarter, beating the consensus estimate of $0.72 by $0.02. The business had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $4.60 billion. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The firm's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 EPS. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. On average, equities analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 4.9%. 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 currently 59.51%.

General Mills Company 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.