Wealthfront Advisers LLC Makes New Investment in General Mills, Inc. $GIS

Key Points

• Wealthfront Advisers acquired 613,267 General Mills shares in the second quarter, valued at approximately $21.3 million and representing a 0.11% stake. Institutional investors and hedge funds collectively own 75.71% of the company.
• Analyst sentiment remains cautious, with General Mills receiving 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 in EPS versus the $0.80 consensus and $4.61 billion in revenue. The company also maintains a quarterly dividend of $0.61 per share, equivalent to a 6.4% annualized yield.

Wealthfront Advisers LLC acquired a new position in General Mills, Inc. (NYSE:GIS - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 613,267 shares of the company's stock, valued at approximately $21,342,000. Wealthfront Advisers LLC owned 0.11% of General Mills at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of GIS. Schwarz Dygos Wheeler Investment Advisors LLC grew its stake in General Mills by 1.9% during the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company's stock worth $565,000 after buying an additional 225 shares during the period. Allegheny Financial Group boosted its position in General Mills by 4.8% during the 4th quarter. Allegheny Financial Group now owns 4,904 shares of the company's stock worth $228,000 after purchasing an additional 226 shares during the period. Stonebridge Capital Advisors LLC boosted its position in General Mills by 0.7% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company's stock worth $1,702,000 after purchasing an additional 226 shares during the period. Robertson Stephens Wealth Management LLC increased its holdings in General Mills by 3.7% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 6,879 shares of the company's stock valued at $320,000 after purchasing an additional 247 shares in the last quarter. Finally, Montag A & Associates Inc. increased its holdings in General Mills by 5.7% in the 4th quarter. Montag A & Associates Inc. now owns 4,648 shares of the company's stock valued at $216,000 after purchasing an additional 249 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GIS. Bank of America upped their target price on General Mills from $36.00 to $39.00 and gave the stock a "neutral" rating in a research report on Thursday, July 2nd. Jefferies Financial Group raised their target price on General Mills from $33.00 to $36.00 and gave the company a "hold" rating in a report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft upped their price target on General Mills from $32.00 to $33.00 and gave the stock a "hold" rating in a report on Thursday, July 2nd. Morgan Stanley lowered their price objective on shares of General Mills from $37.00 to $32.00 and set an "underweight" rating for the company in a research report on Friday, June 5th. Finally, Stifel Nicolaus dropped their price objective on shares of General Mills from $44.00 to $40.00 and set a "buy" rating on the stock in a research note on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $39.16.

General Mills Trading Up 0.5%

Shares of GIS opened at $38.17 on Wednesday. The company has a market capitalization of $20.37 billion, a P/E ratio of -212.07 and a beta of -0.03. General Mills, Inc. has a one year low of $31.75 and a one year 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 stock has a 50-day moving average price of $36.29 and a 200 day moving average price of $37.83.

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

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders 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 dividend yield of 6.4%. General Mills's dividend payout ratio (DPR) is presently -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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