Investmark Advisory Group LLC Invests $2.83 Million in General Mills, Inc. $GIS

Key Points

• Investmark Advisory Group purchased 81,386 General Mills shares worth approximately $2.83 million, making the stock about 1.1% of its portfolio. Institutional investors collectively own 75.71% of GIS.
• General Mills beat quarterly earnings expectations, reporting $0.95 in EPS versus the $0.80 consensus, while revenue rose 1.2% year over year to $4.61 billion.
• The company pays a quarterly dividend of $0.61 per share, equivalent to an annualized $2.44 dividend and a 6.4% yield. Analysts remain cautious, with a consensus “Reduce” rating and a $39.16 price target.

Investmark Advisory Group LLC purchased a new position in General Mills, Inc. (NYSE:GIS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 81,386 shares of the company's stock, valued at approximately $2,832,000. General Mills makes up about 1.1% of Investmark Advisory Group LLC's portfolio, making the stock its 21st biggest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wealthfront Advisers LLC acquired a new stake in shares of General Mills during the second quarter worth approximately $21,342,000. Foster & Motley Inc. acquired a new stake in shares of General Mills in the 2nd quarter valued at about $413,000. Alpine Woods Capital Investors LLC acquired a new stake in shares of General Mills in the 2nd quarter valued at about $2,575,000. Meeder Advisory Services Inc. bought a new position in shares of General Mills during the second quarter worth about $1,302,000. Finally, Citizens Financial Group Inc. RI bought a new position in shares of General Mills during the second quarter worth about $691,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Price Performance

GIS opened at $38.17 on Wednesday. The firm has a market cap of $20.37 billion, a price-to-earnings ratio of -212.07 and a beta of -0.03. General Mills, Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $51.33. The company's 50-day moving average price is $36.29 and its 200 day moving average price is $37.83. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68.

General Mills (NYSE:GIS - Get Free Report) last issued its earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.15. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.General Mills's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous 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, sell-side analysts expect that General Mills, Inc. will post 3.07 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. Investors of record on Friday, July 10th were given a dividend of $0.61 per share. The ex-dividend date was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a yield of 6.4%. General Mills's payout ratio is currently -1,355.56%.

Analyst Ratings Changes

Several brokerages recently weighed in on GIS. UBS Group set a $33.00 price objective on General Mills in a report on Monday, July 6th. Piper Sandler reduced their target price on General Mills from $45.00 to $41.00 and set an "overweight" rating on the stock in a report on Wednesday, May 13th. Jefferies Financial Group lifted their target price on General Mills from $33.00 to $36.00 and gave the stock a "hold" rating in a research report on Wednesday, July 1st. Zacks Research upgraded General Mills from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Finally, Sanford C. Bernstein downgraded General Mills from a "market perform" rating to an "underperform" rating and set a $31.00 price target for the company. in a report on Wednesday, June 3rd. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target 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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