Sanctuary Advisors LLC Takes $1.40 Million Position in General Mills, Inc. $GIS

Key Points

• Sanctuary Advisors acquired 40,149 General Mills shares worth approximately $1.40 million during the second quarter. Institutional investors collectively own 75.71% of the company.
• General Mills reported quarterly earnings of $0.95 per share, surpassing the $0.80 consensus estimate, while revenue rose 1.2% year over year to $4.61 billion.
• The company pays a quarterly dividend of $0.61 per share, representing an annualized dividend of $2.44 and a 6.1% yield. Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $39.16.

Sanctuary Advisors LLC purchased a new position in shares of General Mills, Inc. (NYSE:GIS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 40,149 shares of the company's stock, valued at approximately $1,397,000.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of General Mills during the 2nd quarter valued at $2,181,608,000. Norges Bank purchased a new position in General Mills in the fourth quarter valued at about $361,552,000. Wellington Management Group LLP increased its position in General Mills by 2,970.1% in the 4th quarter. Wellington Management Group LLP now owns 7,466,693 shares of the company's stock worth $347,201,000 after purchasing an additional 7,223,487 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of General Mills by 366.1% during the 4th quarter. AQR Capital Management LLC now owns 5,117,287 shares of the company's stock worth $237,954,000 after purchasing an additional 4,019,319 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of General Mills during the 2nd quarter valued at about $129,298,000. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Trading Up 0.7%

General Mills stock opened at $40.06 on Thursday. General Mills, Inc. has a 52 week low of $31.75 and a 52 week high of $51.33. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68. The firm has a market capitalization of $21.42 billion, a PE ratio of -222.54 and a beta of -0.03. The business's 50-day simple moving average is $37.01 and its 200-day simple moving average is $37.55.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.15. The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities research analysts forecast that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a yield of 6.1%. General Mills's payout ratio is -1,355.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GIS shares. The Goldman Sachs Group restated a "neutral" rating and issued a $36.00 price objective on shares of General Mills in a report on Tuesday, June 2nd. Barclays decreased their target price on shares of General Mills from $41.00 to $36.00 and set an "equal weight" rating for the company in a research report on Monday, May 11th. TD Cowen dropped their price target on shares of General Mills from $32.00 to $31.00 and set a "hold" rating on the stock in a research note on Thursday, July 2nd. Zacks Research raised shares of General Mills from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. Finally, Weiss Ratings upgraded shares of General Mills from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $39.16.

About General Mills

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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