Kentucky Farm Bureau Mutual Insurance Co Acquires New Shares in General Mills, Inc. $GIS

Key Points

• Kentucky Farm Bureau Mutual Insurance Co. acquired 37,500 General Mills shares worth approximately $1.305 million in the second quarter. Institutional investors and hedge funds collectively own 75.71% of GIS.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce”, with 12 Hold, six Sell, and four Buy ratings and an average price target of $39.16.
• General Mills beat quarterly earnings expectations, reporting $0.95 EPS versus the $0.80 consensus and $4.61 billion in revenue. The company also declared a $0.61 quarterly dividend, representing a 6.1% annualized yield.

Kentucky Farm Bureau Mutual Insurance Co bought a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 37,500 shares of the company's stock, valued at approximately $1,305,000.

Other institutional investors also recently modified their holdings of the company. Reflection Asset Management bought a new position in General Mills during the 4th quarter worth approximately $25,000. Nalls Sherbakoff Group LLC acquired a new position in General Mills during the fourth quarter valued at approximately $26,000. Bruce G. Allen Investments LLC grew its holdings in General Mills by 139.8% during the fourth 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 during the period. Zions Bancorporation National Association UT increased its stake in General Mills by 248.1% in the fourth quarter. Zions Bancorporation National Association UT now owns 630 shares of the company's stock valued at $29,000 after purchasing an additional 449 shares in the last quarter. Finally, Binnacle Investments Inc increased its stake in General Mills by 312.5% in the third quarter. Binnacle Investments Inc now owns 660 shares of the company's stock valued at $33,000 after purchasing an additional 500 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GIS. Jefferies Financial Group lifted their price target on shares of General Mills from $33.00 to $36.00 and gave the stock a "hold" rating in a research report on Wednesday, July 1st. Wells Fargo & Company upped their price objective on shares of General Mills from $30.00 to $33.00 and gave the company an "underweight" rating in a research report on Thursday, July 2nd. UBS Group set a $33.00 price objective on General Mills in a research note on Monday, July 6th. JPMorgan Chase & Co. lifted their target price on General Mills from $31.00 to $35.00 and gave the stock an "underweight" rating in a report on Thursday, July 2nd. Finally, Morgan Stanley lowered their price target on General Mills from $37.00 to $32.00 and set an "underweight" rating for the company in a report on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $39.16.

General Mills Stock Up 5.1%

Shares of GIS stock opened at $40.01 on Thursday. The firm has a fifty day moving average of $36.41 and a 200-day moving average of $37.80. 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, Inc. has a 12-month low of $31.75 and a 12-month high of $51.33. The company has a market capitalization of $21.39 billion, a price-to-earnings ratio of -222.25 and a beta of -0.03.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates 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 quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the business posted $0.53 earnings per share. 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 earnings per share for the current fiscal year.

General Mills Dividend Announcement

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

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