National Pension Service Sells 845,671 Shares of General Mills, Inc. $GIS

Key Points

• National Pension Service cut its General Mills stake by 67.3%, selling 845,671 shares in the second quarter and retaining 410,600 shares valued at approximately $14.3 million.
• Analysts maintain a generally cautious view, with a consensus rating of “Reduce” and an average price target of $39.32; ratings include four Buys, twelve Holds, and six Sells.
• General Mills exceeded quarterly earnings expectations with $0.95 in EPS versus $0.80 forecast and $4.61 billion in revenue, while paying a quarterly dividend of $0.61, equivalent to a 6.8% annualized yield.

National Pension Service cut its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 67.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 410,600 shares of the company's stock after selling 845,671 shares during the period. National Pension Service owned 0.08% of General Mills worth $14,289,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Reflection Asset Management acquired a new stake in shares of General Mills in the fourth quarter valued at approximately $25,000. Nalls Sherbakoff Group LLC acquired a new stake in General Mills during the fourth quarter worth approximately $26,000. Brown Shipley& Co Ltd bought a new position in General Mills during the 1st quarter worth $26,000. Silvant Capital Management LLC bought a new position in General Mills during the 2nd quarter worth $26,000. Finally, Bruce G. Allen Investments LLC raised its holdings in General Mills by 139.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company's stock valued at $27,000 after acquiring an additional 337 shares in the last quarter. Institutional investors own 75.71% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. BNP Paribas Exane upped their target price on General Mills from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Thursday, July 2nd. UBS Group set a $33.00 price target on General Mills in a research report on Monday, July 6th. Jefferies Financial Group set a $35.00 price target on General Mills in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Mills from $32.00 to $33.00 and gave the stock a "hold" rating in a research report on Thursday, July 2nd. Finally, Bank of America increased their price objective on shares of General Mills from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 1st. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $39.32.

General Mills Trading Down 0.3%

Shares of General Mills stock opened at $35.87 on Friday. The firm's 50 day moving average is $37.87 and its 200 day moving average is $36.93. The firm has a market capitalization of $19.18 billion, a PE ratio of -199.25, a price-to-earnings-growth ratio of 1.95 and a beta of -0.01. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $51.33. 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 (NYSE:GIS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.80 by $0.15. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate 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 revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities research analysts forecast that General Mills, Inc. will post 3.06 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 paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date was Friday, July 10th. General Mills's dividend payout ratio is presently -1,355.56%.

General Mills Profile

General Mills, Inc is a global food company that manufactures and markets branded consumer food products. Its portfolio includes cereals, snacks, refrigerated and shelf-stable meals, baking products, yogurt, and pet food.

The company's brands include Cheerios, Betty Crocker, Pillsbury, Nature Valley, Old El Paso, Yoplait, Blue Buffalo, and Häagen-Dazs in markets where it owns or licenses the brand. General Mills sells its products through grocery stores, mass merchants, convenience stores, e-commerce channels, restaurants, and other foodservice providers.

General Mills traces its history to the Minneapolis Milling Company, founded in 1856, and adopted the General Mills name in 1928.

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