SummitTX Capital L.P. Acquires 16,633 Shares of General Mills, Inc. $GIS

SummitTX Capital L.P. grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 255.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,136 shares of the company’s stock after acquiring an additional 16,633 shares during the period. SummitTX Capital L.P.’s holdings in General Mills were worth $861,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GIS. Reflection Asset Management purchased a new stake in General Mills during the 4th quarter worth about $25,000. Nalls Sherbakoff Group LLC bought a new position in General Mills in the 4th quarter worth about $26,000. Bruce G. Allen Investments LLC grew its holdings in General Mills by 139.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock valued at $27,000 after buying an additional 337 shares in the last quarter. Zions Bancorporation National Association UT grew its holdings in General Mills by 248.1% during the 4th quarter. Zions Bancorporation National Association UT now owns 630 shares of the company’s stock valued at $29,000 after buying an additional 449 shares in the last quarter. Finally, Binnacle Investments Inc increased its position in shares of General Mills by 312.5% during the third quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock valued at $33,000 after buying an additional 500 shares during the period. 75.71% of the stock is owned by institutional investors.

General Mills Stock Performance

NYSE:GIS opened at $36.47 on Friday. The stock has a market cap of $19.46 billion, a P/E ratio of -202.61 and a beta of -0.03. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. The business’s 50-day moving average price is $35.26 and its two-hundred day moving average price is $38.50. General Mills, Inc. has a twelve month low of $31.75 and a twelve month high of $51.33.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, topping the consensus estimate 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%.General Mills’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, equities analysts predict that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

General Mills Announces Dividend

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

Insider Buying and Selling

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the sale, the insider directly owned 86,002 shares of the company’s stock, valued at approximately $2,947,288.54. The trade was a 10.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ricardo Fernandez sold 7,995 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total transaction of $275,827.50. Following the completion of the transaction, the insider owned 62,283 shares of the company’s stock, valued at $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GIS shares. Piper Sandler cut their price objective on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Barclays decreased 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 report on Monday, May 11th. JPMorgan Chase & Co. increased their target price on shares of General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, July 2nd. Jefferies Financial Group raised their price target on shares of General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, July 1st. Finally, Morgan Stanley reduced their price target on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, June 5th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $39.16.

General Mills Company 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.