Providence Capital Advisors LLC Boosts Holdings in General Mills, Inc. $GIS

Key Points

• Providence Capital Advisors LLC increased its stake in General Mills by 36.9%, owning 53,296 shares valued at $3.19 million as of its latest SEC filing.
• General Mills recently raised its quarterly dividend from $0.60 to $0.61, yielding 4.9% annually, with a payout ratio of 59.51%.
• Multiple analysts have adjusted their target prices for General Mills, with Goldman Sachs lowering its target from $68 to $58 and Barclays from $60 to $54.

Providence Capital Advisors LLC lifted its position in General Mills, Inc. (NYSE:GIS - Free Report) by 36.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 53,296 shares of the company's stock after buying an additional 14,358 shares during the period. Providence Capital Advisors LLC's holdings in General Mills were worth $3,187,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Transce3nd LLC purchased a new position in shares of General Mills in the fourth quarter worth $32,000. Perkins Coie Trust Co increased its holdings 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 buying an additional 211 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in General Mills in the 1st quarter worth about $34,000. GKV Capital Management Co. Inc. purchased a new position in General Mills in the 1st quarter worth about $34,000. Finally, Strategic Investment Solutions Inc. IL raised its position in General Mills by 1,096.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 598 shares of the company's stock worth $39,000 after buying an additional 548 shares during the last quarter. Institutional investors own 75.71% of the company's stock.

General Mills Stock Performance

Shares of NYSE GIS traded down $0.2730 during trading on Wednesday, hitting $49.6370. The company had a trading volume of 6,245,707 shares, compared to its average volume of 5,503,151. General Mills, Inc. has a 12 month low of $48.59 and a 12 month high of $75.90. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.43 and a current ratio of 0.67. The firm has a market capitalization of $26.92 billion, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 1.26 and a beta of -0.01. The stock has a 50 day simple moving average of $51.02 and a 200 day simple moving average of $55.33.

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

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were issued a $0.61 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.44 annualized dividend and a yield of 4.9%. This is an increase from General Mills's previous quarterly dividend of $0.60. General Mills's payout ratio is currently 59.51%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GIS shares. Stifel Nicolaus dropped their price target on shares of General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. UBS Group lowered their price objective on shares of General Mills from $52.00 to $49.00 and set a "sell" rating on the stock in a research report on Thursday, June 26th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $45.00 target price (down previously from $53.00) on shares of General Mills in a report on Wednesday. Royal Bank Of Canada upgraded shares of General Mills from a "sector perform" rating to an "outperform" rating and decreased their target price for the company from $67.00 to $63.00 in a research note on Thursday, June 26th. Finally, Bank of America lowered their price target on General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $59.13.

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.