McKinney Capital Management LLC Purchases 39,882 Shares of General Mills, Inc. $GIS

McKinney Capital Management LLC purchased a new stake in General Mills, Inc. (NYSE:GIS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 39,882 shares of the company’s stock, valued at approximately $1,283,000.

Several other hedge funds have also added to or reduced their stakes in GIS. Silvant Capital Management LLC acquired a new position in General Mills in the second quarter valued at about $26,000. Main Street Group LTD bought a new stake in shares of General Mills in the first quarter worth about $27,000. Elevation Wealth Partners LLC acquired a new stake in shares of General Mills during the second quarter worth about $27,000. CoreCap Advisors LLC raised its position in shares of General Mills by 92.9% during the second quarter. CoreCap Advisors LLC now owns 787 shares of the company’s stock worth $27,000 after purchasing an additional 379 shares during the period. Finally, Clearstead Trust LLC lifted its holdings in shares of General Mills by 73.8% during the 1st quarter. Clearstead Trust LLC now owns 810 shares of the company’s stock valued at $30,000 after purchasing an additional 344 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Latest General Mills News

Here’s some of the latest news about GIS:

• Positive Sentiment: A dividend-stock comparison highlights GIS’s reported yield of roughly 7%, above Kimberly-Clark’s, which may appeal to income-focused investors—though the payout is now in question. Article: Better Dividend Stock for Retirees
• Negative Sentiment: Piper Sandler downgraded General Mills from Overweight to Neutral and cut its price target to $35 from $41. The firm warned the dividend could be reduced by as much as 35% as the company prioritizes debt reduction and growth investment. Article: General Mills’ Hefty Dividend Could Be on the Chopping Block
• Negative Sentiment: Coverage also linked the pressure on shares to the downgrade and target cut ahead of a leadership change and restructuring, adding uncertainty around the company’s turnaround. Article: What’s Going On With General Mills Stock Thursday?

General Mills Stock Up 2.4%

GIS traded up $0.80 during trading on Friday, reaching $34.32. 6,681,696 shares of the stock were exchanged, compared to its average volume of 8,376,291. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.39 and a current ratio of 0.70. The stock’s 50 day moving average price is $34.26 and its two-hundred day moving average price is $37.12. The stock has a market cap of $18.35 billion and a P/E ratio of -20.67. General Mills, Inc. has a twelve month low of $31.17 and a twelve month high of $49.59.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. General Mills had a negative net margin of 4.89% and a positive return on equity of 21.86%. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same period last year, the business posted $0.86 EPS. General Mills’s revenue was down 2.8% on a year-over-year basis. Equities analysts expect that General Mills, Inc. will post 3.08 EPS for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th were paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date was Tuesday, October 13th. General Mills’s dividend payout ratio (DPR) is currently -146.99%.

Wall Street Analysts Forecast Growth

GIS has been the subject of several research analyst reports. Weiss Ratings upgraded General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 29th. Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Deutsche Bank restated a “hold” rating and set a $34.00 target price (up from $33.00) on shares of General Mills in a report on Thursday, September 24th. Barclays raised their target price on shares of General Mills from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Friday, September 25th. Finally, Evercore set a $38.00 price target on shares of General Mills in a research note on Monday, September 14th. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $36.24.

General Mills Profile

General Mills, Inc. is a food company that develops, manufactures and markets branded consumer foods. Its products include breakfast cereals, snack bars, baking mixes and refrigerated dough, along with meals and pet food. Its brands include Cheerios, Nature Valley, Betty Crocker, Pillsbury and Blue Buffalo. The company traces its history to the Minneapolis Milling Company, established in 1866. The General Mills name was adopted in 1928 by the Washburn Crosby Company, a predecessor of today’s business.