HB Wealth Management LLC Grows Stake in General Mills, Inc. $GIS

Key Points

• HB Wealth Management increased its General Mills stake by 139.3% in the second quarter, bringing its holdings to 115,194 shares valued at approximately $4.0 million. Institutional investors collectively own 75.71% of the company.
• General Mills reported quarterly EPS of $0.95, beating estimates of $0.80, while revenue rose 1.2% year over year to $4.61 billion. The company also maintains an annualized dividend of $2.44 per share, representing a 6.4% yield.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $39.37, only modestly above the reported share price of $38.36.

HB Wealth Management LLC increased its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 139.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 115,194 shares of the company's stock after purchasing an additional 67,049 shares during the quarter. HB Wealth Management LLC's holdings in General Mills were worth $4,009,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of General Mills in the second quarter valued at $2,181,608,000. Norges Bank acquired a new stake in General Mills in the 4th quarter valued at about $361,552,000. Wellington Management Group LLP grew its stake in General Mills by 2,970.1% in the 4th quarter. Wellington Management Group LLP now owns 7,466,693 shares of the company's stock valued at $347,201,000 after acquiring an additional 7,223,487 shares during the last quarter. AQR Capital Management LLC increased its holdings in General Mills by 366.1% during the 4th quarter. AQR Capital Management LLC now owns 5,117,287 shares of the company's stock valued at $237,954,000 after acquiring an additional 4,019,319 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in General Mills during the 2nd quarter valued at about $129,298,000. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Trading Up 0.2%

Shares of General Mills stock opened at $38.36 on Tuesday. General Mills, Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $51.33. The business's fifty day moving average is $37.89 and its two-hundred day moving average is $37.11. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. The firm has a market cap of $20.51 billion, a PE ratio of -213.10, a P/E/G ratio of 2.08 and a beta of -0.01.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 EPS 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 business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The business's revenue for the quarter was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Analysts anticipate that General Mills, Inc. will post 3.06 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently disclosed 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 of this dividend was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.4%. General Mills's dividend payout ratio is currently -1,355.56%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GIS. Jefferies Financial Group upped their price target on shares of General Mills from $33.00 to $36.00 and gave the company a "hold" rating in a report on Wednesday, July 1st. Morgan Stanley reduced their target price on General Mills from $37.00 to $32.00 and set an "underweight" rating on the stock in a research note on Friday, June 5th. BNP Paribas Exane increased their target price on General Mills from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Thursday, July 2nd. The Goldman Sachs Group reissued a "neutral" rating and set a $36.00 price target on shares of General Mills in a research report on Tuesday, June 2nd. Finally, Bank of America boosted their price target on General Mills from $39.00 to $43.00 and gave the stock a "neutral" rating in a report on Tuesday, September 1st. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $39.37.

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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