Janus Henderson Group PLC Has $3.36 Million Stake in General Mills, Inc. $GIS

Key Points

• Janus Henderson increased its General Mills stake by 58.4% in the first quarter, bringing its holdings to 90,129 shares valued at approximately $3.36 million. Institutional investors and hedge funds collectively own 75.71% of the company.
• General Mills exceeded quarterly earnings expectations, reporting adjusted EPS of $0.95 versus the $0.80 consensus estimate, while revenue rose 1.2% year over year to $4.61 billion. The company also declared a quarterly dividend of $0.61, representing a 6.6% annualized yield.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating and a $39.16 average price target, compared with a recent share price of $36.81.

Janus Henderson Group PLC lifted its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 58.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 90,129 shares of the company's stock after acquiring an additional 33,238 shares during the period. Janus Henderson Group PLC's holdings in General Mills were worth $3,356,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Norges Bank bought a new position in shares of General Mills during the 4th quarter worth about $361,552,000. Wellington Management Group LLP boosted its holdings in General Mills by 2,970.1% in the fourth quarter. Wellington Management Group LLP now owns 7,466,693 shares of the company's stock worth $347,201,000 after acquiring an additional 7,223,487 shares in the last quarter. AQR Capital Management LLC grew its stake in General Mills by 366.1% in the fourth 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 during the period. Worldquant Millennium Advisors LLC acquired a new stake in General Mills in the second quarter valued at approximately $84,862,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of General Mills by 61.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,141,691 shares of the company's stock valued at $192,589,000 after acquiring an additional 1,573,444 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Performance

NYSE GIS opened at $36.81 on Friday. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $51.33. 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 firm has a market cap of $19.64 billion, a price-to-earnings ratio of -204.47 and a beta of -0.03. The company has a fifty day moving average price of $35.56 and a 200-day moving average price of $38.18.

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

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a $0.61 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 annualized dividend and a yield of 6.6%. General Mills's payout ratio is currently -1,355.56%.

Insiders Place Their Bets

In other news, insider Ricardo Fernandez sold 7,995 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total transaction of $275,827.50. Following the completion of the sale, the insider directly owned 62,283 shares of the company's stock, valued at $2,148,763.50. This trade represents a 11.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total value of $342,700.00. Following the sale, the insider owned 86,002 shares in the company, valued at $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of recent research reports. The Goldman Sachs Group reiterated a "neutral" rating and issued a $36.00 target price on shares of General Mills in a report on Tuesday, June 2nd. JPMorgan Chase & Co. upped their price objective on shares of General Mills from $31.00 to $35.00 and gave the stock an "underweight" rating in a report on Thursday, July 2nd. Jefferies Financial Group lifted their price objective 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. Bank of America boosted their target price on shares of General Mills from $36.00 to $39.00 and gave the stock a "neutral" rating in a research report on Thursday, July 2nd. Finally, Piper Sandler dropped their price target 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. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source