Te Ahumairangi Investment Management Ltd Invests $3.85 Million in General Mills, Inc. $GIS

Te Ahumairangi Investment Management Ltd bought a new stake in General Mills, Inc. (NYSE:GIS) in the second quarter, HoldingsChannel reports. The firm bought 110,477 shares of the company’s stock, valued at approximately $3,845,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIS. Marshall Wace LLP purchased a new position in General Mills during the second quarter valued at $9,188,000. Bank of Nova Scotia increased its stake in shares of General Mills by 4.1% in the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock worth $3,374,000 after acquiring an additional 2,552 shares in the last quarter. WINTON GROUP Ltd lifted its position in General Mills by 112.6% during the 2nd quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock valued at $465,000 after acquiring an additional 4,752 shares during the period. Daiwa Securities Group Inc. lifted its position in General Mills by 4.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock valued at $4,250,000 after acquiring an additional 3,814 shares during the period. Finally, Nebula Research & Development LLC boosted its stake in General Mills by 334.2% during the second quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock worth $1,012,000 after acquiring an additional 15,041 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Trading Up 0.1%

Shares of NYSE:GIS opened at $39.99 on Monday. The stock’s 50-day simple moving average is $36.64 and its two-hundred day simple moving average is $37.71. The stock has a market capitalization of $21.38 billion, a price-to-earnings ratio of -222.15 and a beta of -0.03. General Mills, Inc. has a 52-week low of $31.75 and a 52-week high of $51.33. 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 released its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.80 by $0.15. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.59 billion. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Analysts expect that General Mills, Inc. will post 3.07 EPS for the current year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.1%. General Mills’s payout ratio is presently -1,355.56%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company lifted their target price on shares of General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, July 2nd. BNP Paribas Exane increased their price objective 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. Weiss Ratings upgraded shares of General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 2nd. The Goldman Sachs Group reissued a “neutral” rating and set a $36.00 price target on shares of General Mills in a research report on Tuesday, June 2nd. Finally, UBS Group set a $33.00 price objective on General Mills in a research report on Monday, July 6th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus 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.