Pacer Advisors Inc. Sells 152,176 Shares of General Mills, Inc. $GIS

Key Points

• Pacer Advisors reduced its General Mills stake by 5.7% in the first quarter, selling 152,176 shares and retaining 2.52 million shares valued at approximately $93.7 million. Institutional investors collectively own 75.71% of the company.
• Analyst sentiment remains cautious, with a consensus rating of “Reduce” and an average price target of $39.16. Recent ratings were mixed, including upgraded targets from Jefferies and Bank of America but an “underweight” rating from Wells Fargo.
• General Mills reported quarterly EPS of $0.95, beating estimates of $0.80, while revenue rose 1.2% year over year to $4.61 billion. The company also declared a quarterly dividend of $0.61 per share, representing an annualized yield of approximately 6.8%.

Pacer Advisors Inc. trimmed its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,516,724 shares of the company's stock after selling 152,176 shares during the quarter. Pacer Advisors Inc. owned approximately 0.47% of General Mills worth $93,672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GIS. Empowered Funds LLC increased its stake in General Mills by 5.2% in the first quarter. Empowered Funds LLC now owns 209,451 shares of the company's stock worth $7,796,000 after purchasing an additional 10,323 shares during the period. Pine Valley Investments Ltd Liability Co boosted its stake in shares of General Mills by 2.5% during the first quarter. Pine Valley Investments Ltd Liability Co now owns 16,185 shares of the company's stock valued at $602,000 after purchasing an additional 393 shares during the period. NewEdge Advisors LLC boosted its stake in shares of General Mills by 72.8% during the first quarter. NewEdge Advisors LLC now owns 123,524 shares of the company's stock valued at $4,598,000 after purchasing an additional 52,046 shares during the period. Financial Solutions Advisory Group Inc. bought a new position in shares of General Mills in the first quarter worth about $1,323,000. Finally, Alpine Woods Capital Investors LLC grew its holdings in shares of General Mills by 635.8% in the first quarter. Alpine Woods Capital Investors LLC now owns 86,461 shares of the company's stock worth $3,218,000 after purchasing an additional 74,711 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of General Mills from $33.00 to $36.00 and gave the company a "hold" rating in a report on Wednesday, July 1st. Barclays dropped their target price on shares of General Mills from $41.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Monday, May 11th. Bank of America raised their target price on shares of General Mills from $36.00 to $39.00 and gave the stock a "neutral" rating in a research report on Thursday, July 2nd. Wells Fargo & Company lifted their price target on shares of General Mills from $30.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, July 2nd. Finally, Stifel Nicolaus lowered their price target on General Mills from $44.00 to $40.00 and set a "buy" rating for the company in a report on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $39.16.

Insiders Place Their Bets

In other General Mills news, insider Jacqueline Williams-Roll sold 10,000 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the transaction, the insider directly owned 86,002 shares in the company, valued at approximately $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ricardo Fernandez sold 7,995 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the sale, the insider directly owned 62,283 shares of the company's stock, valued at approximately $2,148,763.50. The trade was a 11.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.30% of the company's stock.

General Mills Stock Up 0.3%

NYSE:GIS opened at $35.85 on Monday. General Mills, Inc. has a 1-year low of $31.75 and a 1-year high of $51.33. The company has a 50-day moving average of $35.30 and a 200 day moving average of $38.44. The firm has a market cap of $19.13 billion, a PE ratio of -199.14 and a beta of -0.03. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40.

General Mills (NYSE:GIS - Get Free Report) last issued its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.15. The company had revenue of $4.61 billion for the quarter, compared to analysts' expectations 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 in the prior year, the business earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, research analysts anticipate that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Friday, July 10th. General Mills's dividend payout ratio is -1,355.56%.

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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