Swiss National Bank Grows Stake in General Mills, Inc. $GIS

Swiss National Bank boosted its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 7.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,565,900 shares of the company's stock after purchasing an additional 104,200 shares during the quarter. Swiss National Bank owned about 0.29% of General Mills worth $58,283,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Schwarz Dygos Wheeler Investment Advisors LLC boosted its stake in General Mills by 1.9% in the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company's stock worth $565,000 after purchasing an additional 225 shares during the period. Allegheny Financial Group raised its position in shares of General Mills by 4.8% during the fourth quarter. Allegheny Financial Group now owns 4,904 shares of the company's stock valued at $228,000 after buying an additional 226 shares during the last quarter. Stonebridge Capital Advisors LLC lifted its holdings in shares of General Mills by 0.7% in the second quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company's stock worth $1,702,000 after buying an additional 226 shares in the last quarter. Robertson Stephens Wealth Management LLC lifted its holdings in shares of General Mills by 3.7% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 6,879 shares of the company's stock worth $320,000 after buying an additional 247 shares in the last quarter. Finally, Montag A & Associates Inc. boosted its position in shares of General Mills by 5.7% during the fourth quarter. Montag A & Associates Inc. now owns 4,648 shares of the company's stock worth $216,000 after acquiring an additional 249 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total value of $275,827.50. Following the transaction, the insider directly owned 62,283 shares in the company, valued at $2,148,763.50. This represents a 11.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the transaction, the insider directly owned 86,002 shares in the company, valued at approximately $2,947,288.54. This trade represents a 10.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of General Mills from $31.00 to $35.00 and gave the company an "underweight" rating in a research note on Thursday, July 2nd. Wells Fargo & Company boosted their price target on shares of General Mills from $30.00 to $33.00 and gave the stock an "underweight" rating in a research note on Thursday, July 2nd. BTIG Research initiated coverage on shares of General Mills in a report on Monday, April 13th. They set a "neutral" rating for the company. Weiss Ratings raised General Mills from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, July 2nd. Finally, Morgan Stanley reduced their target price on General Mills from $37.00 to $32.00 and set an "underweight" rating on the stock in a report on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have given a Sell rating to the stock. According to data from MarketBeat, General Mills has an average rating of "Reduce" and a consensus target price of $39.16.

General Mills Price Performance

Shares of GIS stock opened at $37.21 on Wednesday. The stock has a 50 day moving average price of $34.79 and a 200 day moving average price of $38.88. General Mills, Inc. has a 52-week low of $31.75 and a 52-week high of $51.68. 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 $19.86 billion, a P/E ratio of -206.69 and a beta of -0.03.

General Mills (NYSE:GIS - Get Free Report) last released its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.15. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The business's revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, sell-side analysts predict that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Friday, July 10th. General Mills's payout ratio is -1,355.56%.

General Mills Company Profile

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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