Lbp Am Sa Acquires New Shares in General Mills, Inc. $GIS

Key Points

• Lbp Am Sa acquired a new stake of 56,752 shares (~$2.64 million) in General Mills (GIS) during the fourth quarter, and institutional investors now own about 75.71% of the stock.
• General Mills missed quarterly estimates, reporting $0.64 EPS versus a $0.73 consensus and revenue of $4.44 billion (down 8.4% year‑over‑year).
• The company declared a quarterly dividend of $0.61 (annualized $2.44, 6.9% yield, ex‑dividend April 10, payable May 1), while analyst sentiment has weakened to a MarketBeat consensus of "Reduce" with a $43.44 average price target and several recent downgrades.

Lbp Am Sa acquired a new stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 56,752 shares of the company's stock, valued at approximately $2,639,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GIS. Vermillion & White Wealth Management Group LLC acquired a new position in General Mills during the 3rd quarter valued at approximately $25,000. Close Asset Management Ltd acquired a new position in General Mills during the 3rd quarter valued at approximately $28,000. Davis Capital Management acquired a new position in General Mills during the 3rd quarter valued at approximately $29,000. Salomon & Ludwin LLC boosted its position in General Mills by 1,094.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 645 shares of the company's stock valued at $32,000 after purchasing an additional 591 shares during the period. Finally, Financial Consulate Inc. acquired a new position in General Mills during the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Trading Up 0.6%

Shares of GIS stock opened at $35.53 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56. General Mills, Inc. has a 1 year low of $34.04 and a 1 year high of $58.45. The stock has a fifty day moving average of $40.79 and a two-hundred day moving average of $44.76. The firm has a market capitalization of $18.96 billion, a PE ratio of 8.69 and a beta of 0.01.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings data on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.09). The firm had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.53 billion. General Mills had a net margin of 12.05% and a return on equity of 19.19%. The company's quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 EPS. As a group, research analysts expect that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be issued a $0.61 dividend. The ex-dividend date is Friday, April 10th. This represents a $2.44 annualized dividend and a dividend yield of 6.9%. General Mills's dividend payout ratio is 59.66%.

Analyst Ratings Changes

GIS has been the subject of a number of analyst reports. Zacks Research lowered General Mills from a "hold" rating to a "strong sell" rating in a research report on Thursday, February 19th. Morgan Stanley reduced their price target on General Mills from $47.00 to $44.00 and set an "underweight" rating for the company in a research report on Wednesday, February 18th. Piper Sandler reduced their price target on General Mills from $53.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, March 19th. Weiss Ratings lowered General Mills from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, January 13th. Finally, Evercore set a $45.00 price target on General Mills in a research report on Wednesday, February 18th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, General Mills currently has an average rating of "Reduce" and a consensus price target of $43.44.

General Mills Company 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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