Greenleaf Trust Grows Stock Position in General Mills, Inc. $GIS

Greenleaf Trust increased its stake in shares of General Mills, Inc. (NYSE:GIS) by 252.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 40,384 shares of the company’s stock after purchasing an additional 28,928 shares during the period. Greenleaf Trust’s holdings in General Mills were worth $1,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in shares of General Mills by 13.1% in the 4th quarter. BNP Paribas Financial Markets now owns 1,246,997 shares of the company’s stock valued at $57,985,000 after buying an additional 144,631 shares during the period. Bank of Nova Scotia acquired a new position in General Mills during the second quarter worth $5,195,000. KBC Group NV grew its holdings in General Mills by 40.5% during the first quarter. KBC Group NV now owns 771,730 shares of the company’s stock worth $28,724,000 after acquiring an additional 222,602 shares during the period. Delta Global Management LP purchased a new position in General Mills in the first quarter worth $1,849,000. Finally, Wealthfront Advisers LLC purchased a new position in General Mills in the second quarter worth $21,342,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on GIS shares. Wells Fargo & Company raised their target price on General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, July 2nd. Zacks Research raised shares of General Mills from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Sanford C. Bernstein downgraded shares of 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. TD Cowen reduced their price objective on shares of General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, July 2nd. Finally, UBS Group set a $33.00 target price 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 given a Sell rating to the company’s stock. According to MarketBeat, General Mills presently has an average rating of “Reduce” and a consensus target price of $39.16.

General Mills Stock Down 0.7%

General Mills stock opened at $41.25 on Tuesday. 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 firm has a market capitalization of $22.05 billion, a price-to-earnings ratio of -229.15 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 stock’s fifty day moving average is $37.47 and its two-hundred day moving average is $37.40.

General Mills (NYSE:GIS) last released its quarterly 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 positive return on equity of 21.37% and a negative net margin of 0.48%.The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. During the same quarter in the previous year, the company posted $0.53 EPS. 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 predict that General Mills, Inc. will post 3.06 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 5.9%. The ex-dividend date was Friday, July 10th. General Mills’s dividend payout ratio (DPR) is -1,355.56%.

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.