Kestra Advisory Services LLC Cuts Position in General Mills, Inc. $GIS

Key Points

• Kestra Advisory Services LLC reduced its stake in General Mills by 9.9%, holding 94,375 shares worth approximately $5.64 million as of the end of the first quarter.
• General Mills increased its quarterly dividend to $0.61, yielding 4.9%, reflecting a positive change from its previous dividend of $0.60.
• General Mills reported a Q1 revenue decline of 3.3% year-over-year, with earnings per share (EPS) of $0.74, exceeding analyst expectations of $0.72.

Kestra Advisory Services LLC decreased its position in General Mills, Inc. (NYSE:GIS - Free Report) by 9.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,375 shares of the company's stock after selling 10,347 shares during the period. Kestra Advisory Services LLC's holdings in General Mills were worth $5,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in shares of General Mills by 7.3% during the 1st quarter. Victory Capital Management Inc. now owns 522,576 shares of the company's stock valued at $31,245,000 after buying an additional 35,494 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of General Mills by 34.5% during the 4th quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company's stock valued at $581,903,000 after buying an additional 2,341,137 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of General Mills by 7.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company's stock valued at $27,076,000 after buying an additional 32,628 shares during the last quarter. Rock Point Advisors LLC purchased a new position in shares of General Mills during the 1st quarter valued at about $3,610,000. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of General Mills by 126.1% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 774,134 shares of the company's stock valued at $46,285,000 after buying an additional 431,693 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $45.00 price objective (down previously from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Barclays dropped their target price on General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 26th. Bank of America dropped their target price on General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Wells Fargo & Company set a $53.00 target price on General Mills and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Finally, Morgan Stanley restated an "underweight" rating and set a $51.00 target price (down from $53.00) on shares of General Mills in a research report on Tuesday, June 24th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $59.13.

General Mills Price Performance

Shares of General Mills stock traded down $0.81 on Thursday, hitting $48.44. 6,714,662 shares of the company were exchanged, compared to its average volume of 5,649,416. The stock has a market capitalization of $26.27 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.24 and a beta of -0.01. The company has a 50-day moving average price of $50.53 and a 200 day moving average price of $54.93. General Mills, Inc. has a 1-year low of $48.29 and a 1-year high of $75.90. The company has a quick ratio of 0.43, a current ratio of 0.67 and a debt-to-equity ratio of 1.38.

General Mills (NYSE:GIS - Get Free Report) last issued its earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02. The business had revenue of $4.56 billion for the quarter, compared to analysts' expectations of $4.60 billion. General Mills had a return on equity of 24.88% and a net margin of 11.78%.The business's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 EPS. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. As a group, sell-side analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Thursday, July 10th. This is a boost from General Mills's previous quarterly dividend of $0.60. General Mills's dividend payout ratio is presently 59.51%.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.