UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 1,371,235 Shares of General Mills, Inc. $GIS

Key Points

• UBS Asset Management cut its General Mills stake by 19.1%, selling 1.37 million shares and retaining 5.81 million shares worth approximately $202.1 million. Institutional investors own 75.71% of the company.
• Analysts remain cautious, with General Mills carrying an average “Reduce” rating and a consensus price target of $39.16; ratings include four Buys, twelve Holds, and six Sells.
• General Mills exceeded quarterly earnings expectations, reporting $0.95 EPS versus the $0.80 consensus and $4.61 billion in revenue. The company also paid a quarterly dividend of $0.61 per share, equivalent to a 5.9% annualized yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 19.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,808,159 shares of the company's stock after selling 1,371,235 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.09% of General Mills worth $202,124,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GIS. Schwarz Dygos Wheeler Investment Advisors LLC increased its holdings in General Mills by 1.9% during the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company's stock valued at $565,000 after purchasing an additional 225 shares during the period. Allegheny Financial Group lifted its holdings in General Mills by 4.8% in the 4th quarter. Allegheny Financial Group now owns 4,904 shares of the company's stock worth $228,000 after buying an additional 226 shares during the period. Stonebridge Capital Advisors LLC lifted its holdings in General Mills by 0.7% in the 2nd 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 during the period. Robertson Stephens Wealth Management LLC grew its position in shares of General Mills by 3.7% in the 4th 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 during the last quarter. Finally, Montag A & Associates Inc. increased its stake 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 valued at $216,000 after buying an additional 249 shares during the period. 75.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GIS has been the topic of a number of research analyst reports. The Goldman Sachs Group reiterated a "neutral" rating and set a $36.00 target price on shares of General Mills in a report on Tuesday, June 2nd. BNP Paribas Exane raised their price objective on shares of General Mills from $37.00 to $38.00 and gave the company a "neutral" rating in a research note on Thursday, July 2nd. Barclays cut their price target on shares of General Mills from $41.00 to $36.00 and set an "equal weight" rating on the stock in a report on Monday, May 11th. Morgan Stanley decreased their price objective on shares of General Mills from $37.00 to $32.00 and set an "underweight" rating for the company in a report on Friday, June 5th. Finally, Bank of America increased their target price on General Mills from $36.00 to $39.00 and gave the company a "neutral" rating in a research note on Thursday, July 2nd. Four 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.com, General Mills currently has an average rating of "Reduce" and an average price target of $39.16.

General Mills Price Performance

GIS opened at $41.25 on Tuesday. The company's 50-day simple moving average is $37.47 and its two-hundred day simple moving average is $37.40. 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 stock has a market capitalization of $22.05 billion, a P/E ratio of -229.15 and a beta of -0.03. General Mills, Inc. has a 52-week low of $31.75 and a 52-week high of $51.33.

General Mills (NYSE:GIS - Get Free Report) last announced 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. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.59 billion. During the same period in the previous year, the business posted $0.53 earnings per share. The business's revenue for the quarter was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, analysts predict that General Mills, Inc. will post 3.06 EPS for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Friday, July 10th. General Mills's payout ratio is -1,355.56%.

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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