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GSA Capital Partners LLP Acquires Shares of 17,848 General Mills, Inc. (NYSE:GIS)

General Mills logo with Consumer Staples background

Key Points

  • GSA Capital Partners LLP has acquired 17,848 shares of General Mills, valued at approximately $1,067,000, indicating growing interest from institutional investors.
  • General Mills has increased its quarterly dividend from $0.60 to $0.61 per share, reflecting a 5.0% dividend yield and a payout ratio of 59.51%.
  • Wall Street analysts have a mixed outlook on General Mills, with target prices ranging from $54.00 to $63.00 and an average rating of "Hold" based on recent evaluations.
  • MarketBeat previews top five stocks to own in September.

GSA Capital Partners LLP purchased a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 17,848 shares of the company's stock, valued at approximately $1,067,000.

Other large investors also recently made changes to their positions in the company. Federated Hermes Inc. boosted its stake in General Mills by 178.1% during the 1st quarter. Federated Hermes Inc. now owns 1,520,449 shares of the company's stock valued at $90,908,000 after purchasing an additional 973,798 shares during the period. Cozad Asset Management Inc. raised its holdings in General Mills by 2.0% in the 1st quarter. Cozad Asset Management Inc. now owns 36,589 shares of the company's stock valued at $2,188,000 after acquiring an additional 733 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in General Mills in the 1st quarter valued at approximately $41,000. Meeder Advisory Services Inc. raised its holdings in General Mills by 12.3% in the 1st quarter. Meeder Advisory Services Inc. now owns 15,868 shares of the company's stock valued at $949,000 after acquiring an additional 1,736 shares in the last quarter. Finally, Wincap Financial LLC raised its holdings in General Mills by 17.3% in the 1st quarter. Wincap Financial LLC now owns 17,847 shares of the company's stock valued at $1,067,000 after acquiring an additional 2,629 shares in the last quarter. Institutional investors own 75.71% of the company's stock.

General Mills Price Performance

Shares of NYSE GIS traded down $0.04 during midday trading on Friday, reaching $48.94. The company's stock had a trading volume of 5,271,208 shares, compared to its average volume of 5,488,978. 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 fifty-two week low of $48.59 and a fifty-two week high of $75.90. The business's 50 day moving average price is $52.24 and its two-hundred day moving average price is $56.25. The company has a market cap of $26.55 billion, a P/E ratio of 11.94, a P/E/G ratio of 1.23 and a beta of -0.01.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The company reported $0.74 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 net margin of 11.78% and a return on equity of 24.88%. The company's revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 earnings per share. On average, analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders 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 5.0%. The ex-dividend date of this dividend was Thursday, July 10th. This is a positive change from General Mills's previous quarterly dividend of $0.60. General Mills's payout ratio is currently 59.51%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GIS shares. The Goldman Sachs Group lowered General Mills from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $68.00 to $58.00 in a research note on Monday, June 9th. Morgan Stanley reiterated an "underweight" rating and issued a $51.00 price objective (down from $53.00) on shares of General Mills in a research note on Tuesday, June 24th. Stifel Nicolaus lowered their price objective on General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Barclays lowered 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. Finally, UBS Group decreased their price target on General Mills from $52.00 to $49.00 and set a "sell" rating on the stock in a research report on Thursday, June 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $59.73.

View Our Latest Research Report on GIS

General Mills Profile

(Free Report)

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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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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