Vise Technologies Inc. Purchases Shares of 42,123 General Mills, Inc. $GIS

Vise Technologies Inc. purchased a new position in shares of General Mills, Inc. (NYSE:GIS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 42,123 shares of the company’s stock, valued at approximately $1,466,000.

A number of other large investors also recently modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in General Mills in the second quarter valued at approximately $11,578,000. Latash Investments LLC acquired a new stake in shares of General Mills in the second quarter worth $224,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of General Mills in the 2nd quarter valued at $18,649,000. Csenge Advisory Group purchased a new position in shares of General Mills in the 2nd quarter valued at $439,000. Finally, AssuredPartners Investment Advisors LLC acquired a new position in shares of General Mills during the 2nd quarter valued at $532,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Up 1.0%

Shares of NYSE GIS opened at $39.99 on Friday. 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 1 year low of $31.75 and a 1 year high of $51.33. The stock’s 50-day simple moving average is $36.64 and its 200-day simple moving average is $37.77. The firm has a market cap of $21.38 billion, a price-to-earnings ratio of -222.15 and a beta of -0.03.

General Mills (NYSE:GIS) last announced its quarterly earnings results 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 company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, equities analysts anticipate that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GIS. Wells Fargo & Company upped their price target 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. Bank of America raised their price objective on General Mills from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. BNP Paribas Exane boosted their price objective on General Mills from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Morgan Stanley decreased their target price on General Mills from $37.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, June 5th. Finally, UBS Group set a $33.00 target price on General Mills in a research note on Monday, July 6th. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, General Mills has an average rating of “Reduce” and an average target price 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.