Legal & General Group Plc Takes Position in General Mills, Inc. $GIS

Legal & General Group Plc acquired a new stake in shares of General Mills, Inc. (NYSE:GIS) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,497,327 shares of the company’s stock, valued at approximately $121,707,000.

Several other hedge funds have also bought and sold shares of the business. Schwarz Dygos Wheeler Investment Advisors LLC raised its holdings in General Mills by 1.9% during the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company’s stock worth $565,000 after buying an additional 225 shares during the last quarter. Allegheny Financial Group grew its holdings in shares of General Mills by 4.8% during the fourth quarter. Allegheny Financial Group now owns 4,904 shares of the company’s stock valued at $228,000 after buying an additional 226 shares during the last quarter. Stonebridge Capital Advisors LLC grew its holdings in shares of General Mills by 0.7% during the second quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company’s stock valued at $1,702,000 after buying an additional 226 shares during the last quarter. Robertson Stephens Wealth Management LLC increased its position in shares of General Mills by 3.7% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 6,879 shares of the company’s stock worth $320,000 after acquiring an additional 247 shares in the last quarter. Finally, Montag A & Associates Inc. increased its position in shares of General Mills by 5.7% during the fourth quarter. Montag A & Associates Inc. now owns 4,648 shares of the company’s stock worth $216,000 after acquiring an additional 249 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Price Performance

Shares of NYSE:GIS opened at $40.42 on Friday. The company has a market capitalization of $21.61 billion, a P/E ratio of -224.55 and a beta of -0.03. The company’s 50-day moving average is $37.15 and its 200 day moving average is $37.50. 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, Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $51.33.

General Mills (NYSE:GIS) last posted its quarterly earnings data 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. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, equities research 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 was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a dividend of $0.61 per share. The ex-dividend date was Friday, July 10th. This represents a $2.44 annualized dividend and a dividend yield of 6.0%. General Mills’s dividend payout ratio (DPR) is presently -1,355.56%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GIS shares. BNP Paribas Exane raised their price target on shares of General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Wells Fargo & Company boosted their price objective on General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, July 2nd. Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Barclays cut their target price on General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Four investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $39.16.

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.