Peregrine Asset Advisers Inc. Invests $3.52 Million in General Mills, Inc. $GIS

Key Points

• Peregrine Asset Advisers opened a new position in General Mills during the first quarter, buying 94,472 shares valued at about $3.52 million.
• General Mills reported better-than-expected quarterly results, with earnings of $0.95 per share versus $0.80 expected and revenue of $4.61 billion slightly above estimates. The company also reiterated FY 2027 EPS guidance of 3.00 to 3.20.
• The company declared a quarterly dividend of $0.61 per share, implying an annualized yield of about 6.5%. Meanwhile, analysts remain cautious overall, with a consensus rating of “Reduce” and an average price target of $39.

Peregrine Asset Advisers Inc. acquired a new stake in General Mills, Inc. (NYSE:GIS - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 94,472 shares of the company's stock, valued at approximately $3,516,000.

A number of other hedge funds have also made changes to their positions in the stock. Marshall Wace LLP bought a new position in General Mills during the 2nd quarter valued at $9,188,000. Bank of Nova Scotia grew its holdings in General Mills by 4.1% during the second quarter. Bank of Nova Scotia now owns 65,118 shares of the company's stock worth $3,374,000 after acquiring an additional 2,552 shares during the period. WINTON GROUP Ltd raised its position in General Mills by 112.6% in the second quarter. WINTON GROUP Ltd now owns 8,971 shares of the company's stock worth $465,000 after acquiring an additional 4,752 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in General Mills by 4.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company's stock valued at $4,250,000 after acquiring an additional 3,814 shares during the last quarter. Finally, Nebula Research & Development LLC lifted its holdings in General Mills by 334.2% in the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company's stock valued at $1,012,000 after acquiring an additional 15,041 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Stock Down 0.7%

Shares of General Mills stock opened at $37.50 on Friday. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $54.01. The company has a market cap of $20.01 billion, a P/E ratio of -208.31 and a beta of -0.03. The company has a current ratio of 0.68, a quick ratio of 0.36 and a debt-to-equity ratio of 1.68. The stock has a 50-day moving average price of $34.23 and a 200 day moving average price of $39.82.

General Mills (NYSE:GIS - Get Free Report) last released its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, beating 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 positive return on equity of 21.37% and a negative net margin of 0.48%.The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, analysts expect that General Mills, Inc. will post 3.08 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 6.5%. The ex-dividend date is Friday, July 10th. General Mills's dividend payout ratio is currently 59.66%.

Insider Buying and Selling

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

Trending Headlines about General Mills

Here are the key news stories impacting General Mills this week:

• Positive Sentiment: General Mills beat quarterly earnings and revenue estimates, which helped drive the stock higher. Reuters: General Mills beats quarterly estimates on steady staples demand, higher prices
• Positive Sentiment: Management announced a $3 billion cost-savings initiative, which could support future profits and margins. General Mills Fiscal Fourth-Quarter Results Top Views; Targets $3 Billion in Cost Savings
• Positive Sentiment: Several analysts raised price targets after the earnings report, including BNP Paribas Exane, Bank of America, Deutsche Bank, and JPMorgan, signaling renewed interest in the stock despite mixed ratings. Benzinga: Analysts increase forecasts on General Mills after upbeat Q4 results
• Positive Sentiment: General Mills launched new products and brand tie-ins, including Reese’s Puffs/GloRilla and Honey Nut Cheerios Protein, which may help growth momentum. Yahoo Finance: General Mills launches Reese’s Puffs GloRilla tie up and Honey Nut Cheerios Protein

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. BTIG Research assumed coverage on shares of General Mills in a report on Monday, April 13th. They issued a "neutral" rating on the stock. Wells Fargo & Company raised their target price on shares of General Mills from $30.00 to $33.00 and gave the stock an "underweight" rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of General Mills from $31.00 to $35.00 and gave the stock an "underweight" rating in a research report on Thursday. Mizuho dropped their price target on General Mills from $47.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, March 19th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on General Mills from $32.00 to $33.00 and gave the company a "hold" rating in a research report on Thursday. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $39.00.

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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