Ieq Capital LLC Buys New Stake in General Mills, Inc. $GIS

Key Points

• Ieq Capital LLC acquired 195,159 General Mills shares in the second quarter, worth approximately $6.8 million. Institutional investors collectively own 75.71% of the company.
• General Mills reported quarterly EPS of $0.95, exceeding the $0.80 consensus estimate, while revenue reached $4.61 billion, up 1.2% year over year.
• The company maintains a quarterly dividend of $0.61, equivalent to an annualized $2.44 payout and a 6.1% yield. Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $39.16.

Ieq Capital LLC bought a new stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 195,159 shares of the company's stock, valued at approximately $6,792,000.

Several other hedge funds also recently bought and sold shares of GIS. Reflection Asset Management purchased a new stake in shares of General Mills in the fourth quarter valued at $25,000. Nalls Sherbakoff Group LLC purchased a new stake in General Mills during the 4th quarter worth about $26,000. Brown Shipley& Co Ltd acquired a new position in General Mills in the 1st quarter valued at about $26,000. Silvant Capital Management LLC acquired a new position in General Mills in the 2nd quarter valued at about $26,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in General Mills by 139.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company's stock valued at $27,000 after purchasing an additional 337 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company's stock.

General Mills Price Performance

GIS stock opened at $39.99 on Monday. The stock has a 50-day moving average price of $36.64 and a two-hundred day moving average price of $37.71. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $51.33. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. The company has a market cap of $21.38 billion, a PE ratio of -222.15 and a beta of -0.03.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.80 by $0.15. The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The firm's revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, research analysts predict that General Mills, Inc. will post 3.07 EPS for the current year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a $0.61 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.44 annualized dividend and a yield of 6.1%. General Mills's dividend payout ratio (DPR) is presently -1,355.56%.

Analyst Upgrades and Downgrades

GIS has been the topic of several analyst reports. BNP Paribas Exane raised their price target on shares of General Mills from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. boosted their price objective on shares of General Mills from $31.00 to $35.00 and gave the company an "underweight" rating in a research report on Thursday, July 2nd. Zacks Research raised shares of General Mills from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. Piper Sandler decreased their target price on shares of General Mills from $45.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 13th. Finally, Barclays lowered their target price on shares of General Mills from $41.00 to $36.00 and set an "equal weight" rating for the company in a research note on Monday, May 11th. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, General Mills currently has an average rating of "Reduce" and a consensus target price of $39.16.

About General Mills

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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