Allworth Financial LP Takes $1.30 Million Position in General Mills, Inc. $GIS

Allworth Financial LP acquired a new position in General Mills, Inc. (NYSE:GIS – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 37,258 shares of the company’s stock, valued at approximately $1,297,000.
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A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Marshall Wace LLP bought a new stake in General Mills during the second quarter valued at approximately $9,188,000. Bank of Nova Scotia grew its position in General Mills by 4.1% in the second 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 grew its position in General Mills by 112.6% in the second quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock worth $465,000 after acquiring an additional 4,752 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in General Mills by 4.9% in the second 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 last quarter. Finally, Nebula Research & Development LLC increased its stake in General Mills by 334.2% in the second quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock valued at $1,012,000 after acquiring an additional 15,041 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Shares of GIS stock opened at $39.99 on Friday. The company has a market capitalization of $21.38 billion, a P/E ratio of -222.15 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 company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68. The stock has a 50 day moving average price of $36.64 and a two-hundred day moving average price of $37.77.
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General Mills (NYSE:GIS – Get Free Report) last issued its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.59 billion. During the same quarter last year, the business earned $0.53 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Analysts expect that General Mills, Inc. will post 3.07 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a $0.61 dividend. The ex-dividend date 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%.
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Several equities research analysts have issued reports on GIS shares. TD Cowen dropped their price target on General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, July 2nd. Wells Fargo & Company increased their price objective on General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, July 2nd. Barclays decreased their price objective on General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, May 11th. Bank of America upped their target price on General Mills from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Finally, UBS Group set a $33.00 price target on shares of General Mills in a research report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, General Mills currently has an average rating of “Reduce” and an average price target of $39.16.

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.
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