Redwood Investment Management LLC Acquires New Position in General Mills, Inc. $GIS

Key Points

• Redwood Investment Management LLC has acquired a new position in General Mills, purchasing 28,386 shares valued at approximately $1.7 million.
• Analysts' forecasts have downgraded General Mills’ stock ratings, with Goldman Sachs lowering its price target to $58.00 and others reflecting a consensus rating of "Hold" with an average target of $59.13.
• General Mills has increased its quarterly dividend to $0.61 per share, representing an annualized yield of 4.9% amid a challenging revenue landscape.

Redwood Investment Management LLC purchased a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 28,386 shares of the company's stock, valued at approximately $1,697,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Perkins Coie Trust Co raised its stake in General Mills by 69.2% during 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 acquired a new stake in General Mills during the 1st quarter worth $34,000. GKV Capital Management Co. Inc. acquired a new stake in General Mills during the 1st quarter worth $34,000. Heck Capital Advisors LLC acquired a new stake in General Mills during the 4th quarter worth $38,000. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in General Mills during the 1st quarter worth $37,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GIS. Stifel Nicolaus cut their price target on shares of General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $45.00 price objective (down from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Morgan Stanley reissued an "underweight" rating and set a $51.00 price objective (down from $53.00) on shares of General Mills in a research report on Tuesday, June 24th. 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. Finally, Wall Street Zen raised shares of General Mills from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $59.13.

General Mills Stock Performance

Shares of NYSE:GIS traded down $0.81 during midday trading on Thursday, hitting $48.44. The stock had a trading volume of 6,714,662 shares, compared to its average volume of 5,649,416. The company has a market capitalization of $26.27 billion, a PE ratio of 11.81, a P/E/G ratio of 1.24 and a beta of -0.01. The stock has a 50 day moving average price of $50.53 and a two-hundred day moving average price of $54.93. The company has a current ratio of 0.67, a quick ratio of 0.43 and a debt-to-equity ratio of 1.38. General Mills, Inc. has a 1 year low of $48.29 and a 1 year high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last issued its earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. The business had revenue of $4.56 billion for 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 business's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. As a group, equities analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Increases Dividend

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

General Mills Company Profile

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.