Price T Rowe Associates Inc. MD Buys 8,361 Shares of General Mills, Inc. $GIS

Key Points

• Price T Rowe Associates Inc. MD increased its stake in General Mills, acquiring an additional 8,361 shares, bringing its total to 809,331 shares valued at $48,391,000.
• General Mills has seen various hedge funds alter their positions, with 75.71% of the stock currently owned by institutional investors.
• In its latest earnings report, General Mills reported $0.74 EPS, exceeding estimates, despite a 3.3% decline in revenue compared to the previous year.

Price T Rowe Associates Inc. MD grew its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 809,331 shares of the company's stock after acquiring an additional 8,361 shares during the period. Price T Rowe Associates Inc. MD owned 0.15% of General Mills worth $48,391,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GIS. Perkins Coie Trust Co grew its stake in General Mills by 69.2% in the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock worth $31,000 after acquiring an additional 211 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new position in General Mills in the 1st quarter worth about $34,000. GKV Capital Management Co. Inc. bought a new position in General Mills in the 1st quarter worth about $34,000. MJT & Associates Financial Advisory Group Inc. bought a new position in General Mills in the 1st quarter worth about $37,000. Finally, Heck Capital Advisors LLC bought a new position in General Mills in the 4th quarter worth about $38,000. 75.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GIS shares. JPMorgan Chase & Co. restated an "underweight" rating and issued a $45.00 target price (down from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Wall Street Zen upgraded shares of General Mills from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Bank of America dropped their price objective on shares of General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Wells Fargo & Company set a $53.00 price objective on shares of General Mills and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Finally, Barclays dropped their price objective on shares of General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 26th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $59.13.

General Mills Trading Down 0.2%

Shares of General Mills stock opened at $49.22 on Wednesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.67 and a quick ratio of 0.43. The firm has a fifty day moving average price of $50.69 and a 200 day moving average price of $55.04. General Mills, Inc. has a 1 year low of $48.59 and a 1 year high of $75.90. The stock has a market cap of $26.70 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.24 and a beta of -0.01.

General Mills (NYSE:GIS - Get Free Report) last issued its earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The firm had revenue of $4.56 billion during the quarter, compared to analysts' expectations of $4.60 billion. During the same quarter last year, the company posted $1.01 earnings per share. The firm's revenue was down 3.3% compared to the same quarter last year. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. Equities research analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 5.0%. This is a boost from General Mills's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, July 10th. General Mills's dividend payout ratio is 59.51%.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.

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