Tidal Investments LLC Acquires 43,958 Shares of General Mills, Inc. $GIS

Tidal Investments LLC grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 52.6% in the second quarter, Holdings Channel reports. The firm owned 127,535 shares of the company’s stock after acquiring an additional 43,958 shares during the period. Tidal Investments LLC’s holdings in General Mills were worth $4,438,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in General Mills in the 2nd quarter worth about $2,181,608,000. California State Teachers Retirement System boosted its position in General Mills by 4,324.2% in the 2nd quarter. California State Teachers Retirement System now owns 33,413,498 shares of the company’s stock valued at $1,162,790,000 after buying an additional 32,658,249 shares during the period. Norges Bank purchased a new stake in General Mills in the 4th quarter valued at about $361,552,000. Wellington Management Group LLP grew its stake in General Mills by 2,970.1% in the 4th quarter. Wellington Management Group LLP now owns 7,466,693 shares of the company’s stock worth $347,201,000 after acquiring an additional 7,223,487 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in General Mills by 366.1% in the 4th quarter. AQR Capital Management LLC now owns 5,117,287 shares of the company’s stock worth $237,954,000 after acquiring an additional 4,019,319 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Trading Up 0.0%

NYSE GIS opened at $35.87 on Monday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68. The company has a market capitalization of $19.18 billion, a price-to-earnings ratio of -199.25, a price-to-earnings-growth ratio of 1.95 and a beta of -0.01. The company’s 50-day simple moving average is $37.87 and its two-hundred day simple moving average is $36.87. General Mills, Inc. has a one year low of $31.75 and a one year high of $51.33.

General Mills (NYSE:GIS) last posted 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. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.59 billion. During the same quarter in the previous year, the business posted $0.53 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities analysts forecast that General Mills, Inc. will post 3.06 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid 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 6.8%. General Mills’s payout ratio is -1,355.56%.

Analysts Set New Price Targets

GIS has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, July 2nd. Sanford C. Bernstein lowered General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price target for the company. in a report on Wednesday, June 3rd. JPMorgan Chase & Co. increased their price objective on General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, July 2nd. The Goldman Sachs Group restated a “neutral” rating and set a $36.00 price objective on shares of General Mills in a report on Tuesday, June 2nd. Finally, Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $39.32.

General Mills Profile

General Mills, Inc is a global food company that manufactures and markets branded consumer food products. Its portfolio includes cereals, snacks, refrigerated and shelf-stable meals, baking products, yogurt, and pet food.

The company’s brands include Cheerios, Betty Crocker, Pillsbury, Nature Valley, Old El Paso, Yoplait, Blue Buffalo, and Häagen-Dazs in markets where it owns or licenses the brand. General Mills sells its products through grocery stores, mass merchants, convenience stores, e-commerce channels, restaurants, and other foodservice providers.

General Mills traces its history to the Minneapolis Milling Company, founded in 1856, and adopted the General Mills name in 1928.