Te Ahumairangi Investment Management Ltd Has $3.61 Million Position in General Mills, Inc. $GIS

Key Points

• Te Ahumairangi Investment Management Ltd has reduced its holdings in General Mills by 19.3%, owning 60,406 shares valued at approximately $3.61 million after selling 14,457 shares in the first quarter.
• General Mills has recently increased its quarterly dividend to $0.61 per share, which represents a 5.0% yield, up from the previous dividend of $0.60.
• Analysts have mixed views on General Mills, with ratings ranging from buy to sell, and a consensus target price of $59.13 despite some downgrades in price targets.

Te Ahumairangi Investment Management Ltd reduced its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 19.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,406 shares of the company's stock after selling 14,457 shares during the period. Te Ahumairangi Investment Management Ltd's holdings in General Mills were worth $3,612,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Perkins Coie Trust Co increased its position in shares of General Mills by 69.2% in 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. Smallwood Wealth Investment Management LLC bought a new stake in General Mills during the 1st quarter valued at about $34,000. GKV Capital Management Co. Inc. purchased a new position in shares of General Mills in the 1st quarter worth approximately $34,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in General Mills during the 1st quarter worth approximately $37,000. Finally, Heck Capital Advisors LLC acquired a new position in General Mills during the fourth quarter worth $38,000. Institutional investors own 75.71% of the company's stock.

General Mills Trading Down 0.1%

NYSE:GIS traded down $0.03 during mid-day trading on Tuesday, hitting $49.30. 6,240,523 shares of the stock traded hands, compared to its average volume of 5,609,925. General Mills, Inc. has a 52 week low of $48.29 and a 52 week high of $75.90. The firm's 50 day moving average is $50.37 and its two-hundred day moving average is $54.74. 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 stock has a market capitalization of $26.74 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 1.24 and a beta of -0.02.

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

General Mills Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on GIS shares. Wells Fargo & Company set a $53.00 target price on shares of General Mills and gave the company an "equal weight" rating in a report on Thursday, June 26th. Bank of America dropped their price target on General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. UBS Group reduced their target price on General Mills from $52.00 to $49.00 and set a "sell" rating for the company in a report on Thursday, June 26th. Wall Street Zen downgraded General Mills from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, The Goldman Sachs Group downgraded 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 report on Monday, June 9th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average 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.