Pictet Asset Management Holding SA Trims Stock Holdings in General Mills, Inc. $GIS

Key Points

• Pictet Asset Management Holding SA cut its General Mills stake by 9.4% in Q1, selling 30,777 shares and leaving it with 296,933 shares worth about $11.1 million.
• General Mills reported better-than-expected quarterly results, posting EPS of $0.95 on revenue of $4.61 billion, and raised FY 2027 guidance to 3.00–3.20 EPS. Management also said it is targeting up to $3 billion in cost savings by fiscal 2030.
• The company declared a quarterly dividend of $0.61 per share, or $2.44 annualized, implying a 6.5% yield. Meanwhile, Wall Street remains cautious overall, with a consensus rating of “Reduce” and a $39 average price target.

Pictet Asset Management Holding SA decreased its position in General Mills, Inc. (NYSE:GIS - Free Report) by 9.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 296,933 shares of the company's stock after selling 30,777 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.06% of General Mills worth $11,052,000 at the end of the most recent quarter.

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

General Mills Price Performance

Shares of GIS opened at $37.50 on Friday. The company has a market capitalization of $20.01 billion, a P/E ratio of -208.31 and a beta of -0.03. The company has a quick ratio of 0.36, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. The firm has a 50 day moving average of $34.28 and a 200 day moving average of $39.80. General Mills, Inc. has a twelve month low of $31.75 and a twelve month high of $54.01.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.15. The business 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 firm's quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, equities research analysts anticipate that General Mills, Inc. will post 3.06 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be paid a $0.61 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.44 annualized dividend and a dividend yield of 6.5%. General Mills's payout ratio is currently -1,355.56%.

Key Headlines Impacting General Mills

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

• Positive Sentiment: General Mills reported Q4 EPS of $0.95 on revenue of $4.61 billion, both ahead of estimates, which helped lift sentiment toward the stock. General Mills (GIS) Stock Trades Up, Here Is Why
• Positive Sentiment: Management said it is targeting up to $3 billion in cost savings by fiscal 2030 and shifting toward innovation, which investors may view as a margin and earnings tailwind. General Mills Inc (GIS) Q4 2026 Earnings Call Highlights
• Positive Sentiment: The company also introduced product initiatives such as Reese’s Puffs and Honey Nut Cheerios Protein, reinforcing its effort to refresh the portfolio and support sales growth. General Mills (GIS) Launches Reese’s Puffs GloRilla Tie Up And Honey Nut Cheerios Protein
• Neutral Sentiment: Several brokers raised price targets after the earnings release, but ratings were still mostly neutral or negative, signaling that Wall Street sees limited upside until growth improves. These Analysts Increase Their Forecasts On General Mills After Upbeat Q4 Results
• Neutral Sentiment: Wells Fargo reiterated a Sell rating, while other firms such as JPMorgan, Deutsche Bank, Barclays, and Bank of America maintained cautious stances, highlighting ongoing concerns about weak sales growth and execution. Wells Fargo Remains a Sell on General Mills (GIS)
• Negative Sentiment: Analysts continue to flag “less bad” guidance and structural concerns, indicating the market still doubts a durable demand rebound for General Mills. General Mills Beats, But 'Less Bad' Outlook Leaves Analyst Unimpressed

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GIS. Deutsche Bank Aktiengesellschaft upped their price target on General Mills from $32.00 to $33.00 and gave the stock a "hold" rating in a research note on Thursday. Barclays lowered their price objective on General Mills from $41.00 to $36.00 and set an "equal weight" rating for the company in a research note on Monday, May 11th. Weiss Ratings raised General Mills from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday. Sanford C. Bernstein cut General Mills from a "market perform" rating to an "underperform" rating and set a $31.00 target price on the stock. in a research note on Wednesday, June 3rd. Finally, Wells Fargo & Company raised their price target on General Mills from $30.00 to $33.00 and gave the company an "underweight" rating in a report on Thursday. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $39.00.

General Mills 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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