General Mills, Inc. $GIS Shares Bought by HB Wealth Management LLC

HB Wealth Management LLC grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 139.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 115,194 shares of the company’s stock after buying an additional 67,049 shares during the period. HB Wealth Management LLC’s holdings in General Mills were worth $4,009,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in General Mills during the second quarter valued at about $2,181,608,000. State Street Corp lifted its stake in shares of General Mills by 0.4% in the 3rd quarter. State Street Corp now owns 33,717,972 shares of the company’s stock valued at $1,700,060,000 after purchasing an additional 145,701 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of General Mills by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock valued at $915,953,000 after purchasing an additional 488,617 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of General Mills by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock worth $704,170,000 after purchasing an additional 172,200 shares during the period. Finally, Morgan Stanley grew its holdings in shares of General Mills by 2.1% during the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock worth $457,443,000 after purchasing an additional 200,043 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GIS. Morgan Stanley cut their price target on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, June 5th. The Goldman Sachs Group reissued a “neutral” rating and issued a $36.00 price objective on shares of General Mills in a research report on Tuesday, June 2nd. Barclays cut their target price on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, May 11th. Sanford C. Bernstein lowered shares of General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 target price on the stock. in a report on Wednesday, June 3rd. Finally, TD Cowen decreased their price target on shares of General Mills from $32.00 to $31.00 and set a “hold” rating for the company 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 given a Sell rating to the company. Based on data from MarketBeat.com, General Mills presently has an average rating of “Reduce” and a consensus price target of $39.37.

General Mills Price Performance

Shares of GIS stock opened at $38.36 on Tuesday. The company has a market capitalization of $20.51 billion, a PE ratio of -213.10, a price-to-earnings-growth ratio of 2.08 and a beta of -0.01. The firm has a fifty day simple moving average of $37.89 and a 200-day simple moving average of $37.11. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. General Mills, Inc. has a twelve month low of $31.75 and a twelve month high of $51.33.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm posted $0.53 EPS. The firm’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. Equities research analysts anticipate that General Mills, Inc. will post 3.06 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared 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 of this dividend was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a yield of 6.4%. General Mills’s dividend payout ratio is currently -1,355.56%.

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.