Greenleaf Trust Grows Stake in General Mills, Inc. $GIS

Key Points

• Greenleaf Trust increased its General Mills stake by 252.5% in the second quarter to 40,384 shares valued at approximately $1.405 million. Institutional investors collectively own 75.71% of the company.
• Analysts remain cautious, with a consensus rating of “Reduce” from 22 analysts and an average price target of $39.16, despite several recent target increases.
• General Mills exceeded quarterly earnings expectations, reporting $0.95 in EPS and $4.61 billion in revenue, while maintaining a quarterly dividend of $0.61 per share, equivalent to a 5.9% annualized yield.

Greenleaf Trust lifted its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 252.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,384 shares of the company's stock after acquiring an additional 28,928 shares during the period. Greenleaf Trust's holdings in General Mills were worth $1,405,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GIS. Marshall Wace LLP purchased a new stake in shares of General Mills during the 2nd quarter worth approximately $9,188,000. Bank of Nova Scotia grew its position in shares of General Mills by 4.1% in the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company's stock valued at $3,374,000 after buying an additional 2,552 shares during the last quarter. WINTON GROUP Ltd grew its position in shares of General Mills by 112.6% in the 2nd quarter. WINTON GROUP Ltd now owns 8,971 shares of the company's stock valued at $465,000 after buying an additional 4,752 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in General Mills by 4.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company's stock worth $4,250,000 after acquiring an additional 3,814 shares in the last quarter. Finally, Nebula Research & Development LLC raised its stake in General Mills by 334.2% during the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company's stock worth $1,012,000 after acquiring an additional 15,041 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of General Mills from $36.00 to $39.00 and gave the company a "neutral" rating in a research report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on General Mills from $32.00 to $33.00 and gave the stock a "hold" rating in a report on Thursday, July 2nd. TD Cowen cut their target price on General Mills from $32.00 to $31.00 and set a "hold" rating on the stock in a research report on Thursday, July 2nd. UBS Group set a $33.00 target price on General Mills in a report on Monday, July 6th. Finally, BNP Paribas Exane upped their target price on General Mills from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $39.16.

General Mills Stock Down 0.7%

GIS stock opened at $41.25 on Tuesday. The company has a fifty day moving average price of $37.47 and a 200 day moving average price of $37.40. General Mills, Inc. has a 12 month low of $31.75 and a 12 month high of $51.33. The company has a market cap of $22.05 billion, a price-to-earnings ratio of -229.15 and a beta of -0.03. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.15. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The firm had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.59 billion. During the same quarter in the prior year, the business earned $0.53 EPS. General Mills's quarterly revenue was up 1.2% compared to the same quarter last year. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Sell-side analysts expect that General Mills, Inc. will post 3.06 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a dividend of $0.61 per share. The ex-dividend date was Friday, July 10th. This represents a $2.44 annualized dividend and a dividend yield of 5.9%. General Mills's dividend payout ratio is -1,355.56%.

General Mills 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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