Kingsview Wealth Management LLC Trims Stake in General Mills, Inc. $GIS

Kingsview Wealth Management LLC cut its position in General Mills, Inc. (NYSE:GIS) by 10.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 145,905 shares of the company’s stock after selling 17,726 shares during the quarter. Kingsview Wealth Management LLC’s holdings in General Mills were worth $5,077,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of General Mills in the second quarter valued at approximately $2,181,608,000. Norges Bank acquired a new position in shares of General Mills in the 4th quarter valued at $361,552,000. Wellington Management Group LLP increased its holdings in shares of General Mills by 2,970.1% in the 4th quarter. Wellington Management Group LLP now owns 7,466,693 shares of the company’s stock valued at $347,201,000 after acquiring an additional 7,223,487 shares during the period. AQR Capital Management LLC raised its position in General Mills by 366.1% in the 4th quarter. AQR Capital Management LLC now owns 5,117,287 shares of the company’s stock valued at $237,954,000 after purchasing an additional 4,019,319 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in General Mills in the 2nd quarter valued at $129,298,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

NYSE:GIS opened at $41.55 on Friday. The firm’s fifty day moving average price is $37.32 and its 200 day moving average price is $37.53. General Mills, Inc. has a 1-year low of $31.75 and a 1-year high of $51.33. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. The firm has a market cap of $22.21 billion, a price-to-earnings ratio of -230.82 and a beta of -0.03.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.15. The company had revenue of $4.61 billion for 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%. General Mills’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, sell-side analysts expect that General Mills, Inc. will post 3.07 EPS for the current year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Friday, July 10th. General Mills’s payout ratio is -1,355.56%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GIS. Morgan Stanley decreased their price target on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating for the company in a research note on Friday, June 5th. Zacks Research raised shares of General Mills from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft increased their target price on shares of General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Sanford C. Bernstein lowered General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price target on the stock. in a report on Wednesday, June 3rd. Finally, Jefferies Financial Group boosted their price target on General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $39.16.

General Mills Profile

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.