Wellington Management Group LLP Sells 7,146,506 Shares of General Mills, Inc. $GIS

Key Points

• Wellington Management Group LLP reduced its General Mills stake by 96.5%, selling 7.15 million shares in the second quarter and retaining 260,488 shares valued at approximately $9.1 million.
• General Mills reported quarterly EPS of $0.95, exceeding the $0.80 analyst consensus, while revenue rose 1.2% year over year to $4.61 billion. The company also maintains a quarterly dividend of $0.61, equivalent to a 6.5% annualized yield.
• GIS shares opened at $37.66, near analysts’ consensus price target of $39.37. Analyst sentiment remains cautious, with four Buy, twelve Hold, and six Sell ratings, resulting in a consensus “Reduce” rating.

Wellington Management Group LLP cut its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 96.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 260,488 shares of the company's stock after selling 7,146,506 shares during the period. Wellington Management Group LLP's holdings in General Mills were worth $9,065,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Archer Investment Corp acquired a new stake in shares of General Mills during the 2nd quarter valued at $43,000. Kimelman & Baird LLC acquired a new position in General Mills in the 2nd quarter worth about $304,000. Rakuten Investment Management Inc. raised its position in General Mills by 10.2% in the second quarter. Rakuten Investment Management Inc. now owns 87,289 shares of the company's stock valued at $3,176,000 after purchasing an additional 8,100 shares during the last quarter. Empowered Funds LLC raised its position in General Mills by 19.9% in the second quarter. Empowered Funds LLC now owns 251,038 shares of the company's stock valued at $8,736,000 after purchasing an additional 41,587 shares during the last quarter. Finally, United Capital Financial Advisors LLC boosted its stake in shares of General Mills by 31.7% during the second quarter. United Capital Financial Advisors LLC now owns 73,570 shares of the company's stock valued at $2,560,000 after purchasing an additional 17,715 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Stock Performance

Shares of GIS stock opened at $37.66 on Wednesday. The stock has a market capitalization of $20.13 billion, a PE ratio of -209.19, a PEG ratio of 2.08 and a beta of -0.01. The business's 50 day simple moving average is $37.94 and its 200 day simple moving average is $37.06. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. General Mills, Inc. has a one year low of $31.75 and a one year high of $51.33.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (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 for the quarter, compared to the consensus estimate of $4.59 billion. During the same quarter in the previous year, the company earned $0.53 EPS. The company'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, research analysts forecast that General Mills, Inc. will post 3.06 earnings per share for the current year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a $0.61 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.44 annualized dividend and a yield of 6.5%. General Mills's payout ratio is presently -1,355.56%.

Analyst Ratings Changes

Several research firms have recently issued reports on GIS. Wells Fargo & Company upped their price objective on General Mills from $30.00 to $33.00 and gave the company an "underweight" rating in a research note on Thursday, July 2nd. Zacks Research upgraded shares of General Mills from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 12th. The Goldman Sachs Group reiterated a "neutral" rating and set a $36.00 price target on shares of General Mills in a report on Tuesday, June 2nd. TD Cowen reduced their price objective on shares of General Mills from $32.00 to $31.00 and set a "hold" rating on the stock in a research note on Thursday, July 2nd. Finally, Piper Sandler decreased their price objective on General Mills from $45.00 to $41.00 and set an "overweight" rating for the company in a report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have given a Sell rating to the company's stock. According to MarketBeat, General Mills has an average rating of "Reduce" and a consensus price target of $39.37.

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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