Raymond James Financial Inc. Sells 40,839 Shares of General Mills, Inc. $GIS

Key Points

• Raymond James Financial Inc. has reduced its stake in General Mills, Inc. by 3.2%, selling 40,839 shares and maintaining ownership of approximately 1,229,260 shares valued at about $73.5 million.
• General Mills recently reported earnings of $0.74 per share, beating estimates, but experienced a 3.3% year-over-year revenue decline of $4.56 billion.
• The company has announced a quarterly dividend increase to $0.61 per share, reflecting a strong annualized yield of 4.9% and a payout ratio of 59.51%.

Raymond James Financial Inc. lowered its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 3.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,229,260 shares of the company's stock after selling 40,839 shares during the quarter. Raymond James Financial Inc. owned 0.22% of General Mills worth $73,497,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GIS. Perkins Coie Trust Co raised its holdings in shares of General Mills by 69.2% during the first quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock valued at $31,000 after acquiring an additional 211 shares during the period. Transce3nd LLC acquired a new stake in shares of General Mills during the fourth quarter valued at approximately $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of General Mills during the first quarter valued at approximately $34,000. GKV Capital Management Co. Inc. acquired a new stake in shares of General Mills during the first quarter valued at approximately $34,000. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of General Mills during the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Stock Down 1.6%

GIS stock traded down $0.81 during trading hours on Monday, hitting $49.37. The company's stock had a trading volume of 4,709,849 shares, compared to its average volume of 5,435,833. The company has a quick ratio of 0.43, a current ratio of 0.67 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $26.78 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 1.27 and a beta of -0.01. General Mills, Inc. has a 12 month low of $48.59 and a 12 month high of $75.90. The stock has a 50 day moving average price of $50.77 and a two-hundred day moving average price of $55.08.

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

General Mills Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.44 annualized dividend and a dividend 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%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GIS. Wall Street Zen upgraded shares of General Mills from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. 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. The Goldman Sachs Group lowered shares of General Mills from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $68.00 to $58.00 in a research note on Monday, June 9th. Morgan Stanley reiterated an "underweight" rating and issued a $51.00 price objective (down previously from $53.00) on shares of General Mills in a research note on Tuesday, June 24th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $45.00 price objective (down previously from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, General Mills currently has a consensus rating of "Hold" and a consensus price target 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.