Hotchkis & Wiley Capital Management LLC Purchases 90,614 Shares of General Mills, Inc. $GIS

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in General Mills by 20.7%, owning a total of 528,718 shares after purchasing 90,614 shares in the first quarter.
• General Mills recently announced a quarterly dividend of $0.61 per share, representing a 4.9% dividend yield, which is an increase from the previous dividend of $0.60.
• The company reported earnings of $0.74 per share, surpassing analysts' expectations, although revenue declined by 3.3% year-over-year.

Hotchkis & Wiley Capital Management LLC lifted its position in General Mills, Inc. (NYSE:GIS - Free Report) by 20.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 528,718 shares of the company's stock after purchasing an additional 90,614 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.10% of General Mills worth $31,612,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Biondo Investment Advisors LLC increased its stake in General Mills by 6.4% during the first quarter. Biondo Investment Advisors LLC now owns 135,608 shares of the company's stock worth $8,108,000 after acquiring an additional 8,156 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in General Mills by 1.9% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 73,382 shares of the company's stock worth $4,387,000 after acquiring an additional 1,393 shares during the last quarter. AlphaQuest LLC bought a new stake in General Mills during the first quarter worth approximately $162,000. Van Hulzen Asset Management LLC increased its stake in General Mills by 175.4% during the first quarter. Van Hulzen Asset Management LLC now owns 4,352 shares of the company's stock worth $260,000 after acquiring an additional 2,772 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its stake in General Mills by 2.1% during the first quarter. 1832 Asset Management L.P. now owns 34,218 shares of the company's stock worth $2,046,000 after acquiring an additional 712 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Stock Up 0.7%

Shares of NYSE GIS opened at $50.1360 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.43 and a current ratio of 0.67. The firm has a market capitalization of $27.20 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.26 and a beta of -0.01. The stock has a 50 day moving average price of $50.85 and a 200 day moving average price of $55.20. General Mills, Inc. has a 52-week low of $48.59 and a 52-week high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last posted its earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. The company had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.60 billion. General Mills had a return on equity of 24.88% and a net margin of 11.78%.General Mills's revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 earnings per share. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. Sell-side analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 4.9%. 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 research analysts have issued reports on GIS shares. The Goldman Sachs Group lowered General Mills from a "buy" rating to a "neutral" rating and dropped their target price for the company from $68.00 to $58.00 in a research report on Monday, June 9th. UBS Group dropped their target price on General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a research report on Thursday, June 26th. Royal Bank Of Canada upgraded General Mills from a "sector perform" rating to an "outperform" rating and dropped their target price for the company from $67.00 to $63.00 in a research report on Thursday, June 26th. Barclays dropped their target price on General Mills from $60.00 to $54.00 and set an "equal weight" rating for the company in a research report on Thursday, June 26th. Finally, Morgan Stanley restated an "underweight" rating and set a $51.00 target price (down previously from $53.00) on shares of General Mills in a research report on Tuesday, June 24th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, General Mills has a consensus rating of "Hold" and a consensus price target of $59.13.

About General Mills

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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