Bull Harbor Capital LLC Takes Position in General Mills, Inc. $GIS

Bull Harbor Capital LLC bought a new stake in General Mills, Inc. (NYSE:GIS) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 18,226 shares of the company’s stock, valued at approximately $678,000.

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

General Mills Stock Performance

Shares of NYSE:GIS opened at $36.47 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. The business’s fifty day moving average price is $35.26 and its two-hundred day moving average price is $38.50. General Mills, Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $51.33. The stock has a market capitalization of $19.46 billion, a price-to-earnings ratio of -202.61 and a beta of -0.03.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.15. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.59 billion. During the same period 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. As a group, analysts predict that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend is Friday, July 10th. General Mills’s dividend payout ratio (DPR) is currently -1,355.56%.

Insider Activity

In other General Mills news, insider Jacqueline Williams-Roll sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the transaction, the insider directly owned 86,002 shares in the company, valued at $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ricardo Fernandez sold 7,995 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total transaction of $275,827.50. Following the sale, the insider directly owned 62,283 shares in the company, valued at $2,148,763.50. This represents a 11.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. BTIG Research began coverage on shares of General Mills in a report on Monday, April 13th. They issued a “neutral” rating on the stock. Weiss Ratings raised shares of General Mills from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 2nd. Jefferies Financial Group lifted their target price on shares of General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday, July 1st. Barclays lowered their target price on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. increased their price target on shares of General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price 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.