Healthcare of Ontario Pension Plan Trust Fund Sells 675,560 Shares of General Mills, Inc. $GIS

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in General Mills, Inc. (NYSE:GIS) by 32.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,389,526 shares of the company’s stock after selling 675,560 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.26% of General Mills worth $51,718,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp grew its stake in shares of General Mills by 0.4% during the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock valued at $1,700,060,000 after buying an additional 145,701 shares during 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 acquiring an additional 488,617 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of General Mills by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock valued at $704,170,000 after acquiring an additional 172,200 shares during the last quarter. Morgan Stanley boosted its holdings in General Mills by 2.1% during the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock valued at $457,443,000 after acquiring an additional 200,043 shares during the period. Finally, Invesco Ltd. grew its position in General Mills by 14.6% during the 4th quarter. Invesco Ltd. now owns 8,780,455 shares of the company’s stock worth $408,291,000 after acquiring an additional 1,115,465 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Trading Up 1.7%

NYSE GIS opened at $36.16 on Friday. The stock has a market cap of $19.30 billion, a P/E ratio of -200.86 and a beta of -0.03. General Mills, Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $51.33. The stock has a 50 day simple moving average of $34.97 and a two-hundred day simple moving average of $38.72. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68.

General Mills (NYSE:GIS) last posted its earnings results 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 firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, analysts forecast that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be issued a $0.61 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.44 annualized dividend and a yield of 6.7%. General Mills’s payout ratio is -1,355.56%.

Insiders Place Their Bets

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the sale, the insider directly owned 86,002 shares of the company’s stock, valued at approximately $2,947,288.54. This trade represents a 10.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ricardo Fernandez sold 7,995 shares of General Mills stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the sale, the insider directly owned 62,283 shares in the company, valued at $2,148,763.50. The trade was a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GIS shares. Deutsche Bank Aktiengesellschaft lifted their price target on General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Morgan Stanley cut their target price 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. Wells Fargo & Company lifted their target price on shares of General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. upped their price target on shares of General Mills from $31.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, July 2nd. Finally, Sanford C. Bernstein cut shares of General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price target for the company. in a research report on Wednesday, June 3rd. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target 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.