Jupiter Topco LLC Makes New Investment in General Mills, Inc. $GIS

Key Points

• Jupiter Topco LLC purchased 86,229 General Mills shares in the second quarter, valued at approximately $3 million. Other institutional investors also opened positions, with institutions and hedge funds owning 75.71% of the stock.
• Analyst sentiment remains cautious: four analysts rate General Mills a Buy, 12 a Hold and six a Sell, producing an average “Reduce” rating and a $39.37 price target.
• General Mills reported quarterly earnings of $0.95 per share, beating estimates of $0.80, while revenue rose 1.2% year over year to $4.61 billion. The company pays a quarterly dividend of $0.61, equivalent to a 6.0% annualized yield.

Jupiter Topco LLC purchased a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 86,229 shares of the company's stock, valued at approximately $3,002,000.

Several other institutional investors have also made changes to their positions in the company. EFG International AG bought a new stake in shares of General Mills during the 2nd quarter worth about $395,000. Canada Pension Plan Investment Board bought a new position in shares of General Mills in the 2nd quarter valued at approximately $11,897,000. Element Capital Management LLC bought a new position in shares of General Mills in the 2nd quarter valued at approximately $5,512,000. Legal & General Group Plc bought a new position in shares of General Mills in the 2nd quarter valued at approximately $121,707,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in General Mills in the 2nd quarter worth approximately $10,405,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on GIS. Sanford C. Bernstein downgraded General Mills from a "market perform" rating to an "underperform" rating and set a $31.00 price target on the stock. in a report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Mills from $32.00 to $33.00 and gave the stock a "hold" rating in a research note on Thursday, July 2nd. Zacks Research raised shares of General Mills from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Jefferies Financial Group upped their price objective on shares of General Mills from $33.00 to $36.00 and gave the stock a "hold" rating in a report on Wednesday, July 1st. Finally, Piper Sandler lowered 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 note on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $39.37.

General Mills Price Performance

Shares of NYSE:GIS opened at $40.65 on Thursday. The firm has a market capitalization of $21.73 billion, a PE ratio of -225.80, a PEG ratio of 2.23 and a beta of -0.01. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. General Mills, Inc. has a 1-year low of $31.75 and a 1-year high of $51.33. The business's 50 day moving average is $37.73 and its 200-day moving average is $37.29.

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. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.59 billion. During the same period in the prior year, the company posted $0.53 earnings per share. General Mills'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. Sell-side analysts predict that General Mills, Inc. will post 3.06 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a $0.61 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.0%. General Mills's dividend payout ratio is currently -1,355.56%.

General Mills Profile

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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