Tidal Investments LLC Grows Position in General Mills, Inc. $GIS

Key Points

• Tidal Investments increased its General Mills stake by 52.6% in the second quarter, bringing its holdings to 127,535 shares valued at approximately $4.44 million. Institutional investors collectively own 75.71% of the company.
• General Mills reported quarterly earnings of $0.95 per share, exceeding estimates of $0.80, while revenue rose 1.2% year over year to $4.61 billion. The company also pays a quarterly dividend of $0.61 per share, representing a 6.8% annualized yield.
• Analyst sentiment remains cautious, with the stock holding a consensus “Reduce” rating and an average price target of $39.32, compared with shares trading at $35.87.

Tidal Investments LLC increased its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 52.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 127,535 shares of the company's stock after acquiring an additional 43,958 shares during the quarter. Tidal Investments LLC's holdings in General Mills were worth $4,438,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of General Mills during the second quarter valued at about $2,181,608,000. California State Teachers Retirement System increased its holdings in shares of General Mills by 4,324.2% in the second quarter. California State Teachers Retirement System now owns 33,413,498 shares of the company's stock worth $1,162,790,000 after purchasing an additional 32,658,249 shares during the last quarter. Norges Bank purchased a new stake in shares of General Mills in the fourth quarter worth about $361,552,000. Wellington Management Group LLP lifted its position in shares of General Mills by 2,970.1% in the fourth quarter. Wellington Management Group LLP now owns 7,466,693 shares of the company's stock worth $347,201,000 after buying an additional 7,223,487 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in General Mills by 366.1% during the fourth quarter. AQR Capital Management LLC now owns 5,117,287 shares of the company's stock valued at $237,954,000 after buying an additional 4,019,319 shares during the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Trading Up 0.0%

Shares of GIS opened at $35.87 on Monday. General Mills, Inc. has a twelve month low of $31.75 and a twelve month high of $51.33. The company has a market cap of $19.18 billion, a P/E ratio of -199.25, a P/E/G ratio of 1.95 and a beta of -0.01. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. The company's fifty day simple moving average is $37.87 and its 200-day simple moving average is $36.87.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.15. The firm had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.59 billion. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, analysts expect that General Mills, Inc. will post 3.06 EPS for the current year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 6.8%. The ex-dividend date was Friday, July 10th. General Mills's payout ratio is -1,355.56%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GIS. Morgan Stanley cut their price target on General Mills from $37.00 to $32.00 and set an "underweight" rating for the company in a report on Friday, June 5th. Zacks Research raised General Mills from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Bank of America increased their target price on General Mills from $39.00 to $43.00 and gave the company a "neutral" rating in a research report on Tuesday, September 1st. Wells Fargo & Company raised their target price on shares of General Mills from $30.00 to $33.00 and gave the company an "underweight" rating in a report on Thursday, July 2nd. Finally, Weiss Ratings upgraded shares of General Mills from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, July 2nd. Four equities 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 company's stock. According to MarketBeat, General Mills presently has an average rating of "Reduce" and a consensus price target of $39.32.

General Mills Profile

General Mills, Inc is a global food company that manufactures and markets branded consumer food products. Its portfolio includes cereals, snacks, refrigerated and shelf-stable meals, baking products, yogurt, and pet food.

The company's brands include Cheerios, Betty Crocker, Pillsbury, Nature Valley, Old El Paso, Yoplait, Blue Buffalo, and Häagen-Dazs in markets where it owns or licenses the brand. General Mills sells its products through grocery stores, mass merchants, convenience stores, e-commerce channels, restaurants, and other foodservice providers.

General Mills traces its history to the Minneapolis Milling Company, founded in 1856, and adopted the General Mills name in 1928.

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