J. Safra Sarasin Holding AG Lowers Holdings in General Mills, Inc. $GIS

Key Points

• J. Safra Sarasin Holding AG cut its stake in General Mills by 72.2% in the first quarter, selling 51,061 shares and leaving it with 19,623 shares worth about $730,000.
• General Mills reported better-than-expected quarterly results, with EPS of $0.95 versus estimates of $0.80 and revenue of $4.61 billion, slightly above expectations; revenue also rose 1.2% year over year.
• The company declared a quarterly dividend of $0.61 per share, implying a 6.6% annualized yield, while analysts currently have an average rating of “Reduce” with a consensus price target of $39.16.

J. Safra Sarasin Holding AG lowered its position in General Mills, Inc. (NYSE:GIS - Free Report) by 72.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,623 shares of the company's stock after selling 51,061 shares during the quarter. J. Safra Sarasin Holding AG's holdings in General Mills were worth $730,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Applied Finance Capital Management LLC raised its position in General Mills by 17.7% during the 1st quarter. Applied Finance Capital Management LLC now owns 14,281 shares of the company's stock valued at $532,000 after purchasing an additional 2,150 shares in the last quarter. Brindle & Bay Financial Advisors LLC grew its position in shares of General Mills by 23.5% during the 1st quarter. Brindle & Bay Financial Advisors LLC now owns 19,572 shares of the company's stock worth $728,000 after buying an additional 3,727 shares in the last quarter. Lifeworks Advisors LLC grew its position in shares of General Mills by 11.1% during the 1st quarter. Lifeworks Advisors LLC now owns 14,979 shares of the company's stock worth $558,000 after buying an additional 1,493 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of General Mills by 216.0% during the first quarter. International Assets Investment Management LLC now owns 15,840 shares of the company's stock valued at $589,000 after buying an additional 10,828 shares during the period. Finally, Diversify Wealth Management LLC increased its stake in shares of General Mills by 72.6% during the first quarter. Diversify Wealth Management LLC now owns 19,992 shares of the company's stock valued at $689,000 after buying an additional 8,406 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at General Mills

In related news, insider Ricardo Fernandez sold 7,995 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the completion of the sale, the insider owned 62,283 shares of the company's stock, valued at $2,148,763.50. This represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the sale, the insider owned 86,002 shares of the company's stock, valued at approximately $2,947,288.54. This trade represents a 10.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.30% of the company's stock.

General Mills Price Performance

Shares of GIS stock opened at $37.19 on Thursday. The stock's 50-day moving average is $34.53 and its 200 day moving average is $39.13. General Mills, Inc. has a 1-year low of $31.75 and a 1-year high of $51.68. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. The company has a market cap of $19.85 billion, a P/E ratio of -206.62 and a beta of -0.03.

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

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Friday, July 10th. General Mills's payout ratio is -1,355.56%.

Wall Street Analyst Weigh In

GIS has been the subject of a number of research reports. Royal Bank Of Canada lowered their price objective on shares of General Mills from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, March 19th. BNP Paribas Exane raised their target price on shares of General Mills from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Thursday, July 2nd. Piper Sandler reduced their price target on shares of General Mills from $45.00 to $41.00 and set an "overweight" rating for the company in a report on Wednesday, May 13th. Barclays lowered their price target on shares of General Mills from $41.00 to $36.00 and set an "equal weight" rating for the company in a research report on Monday, May 11th. Finally, Mizuho dropped their price objective on shares of General Mills from $47.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, March 19th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average 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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