Swiss National Bank Boosts Stock Holdings in General Mills, Inc. $GIS

Swiss National Bank grew its holdings in General Mills, Inc. (NYSE:GIS) by 7.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,565,900 shares of the company’s stock after purchasing an additional 104,200 shares during the quarter. Swiss National Bank’s holdings in General Mills were worth $58,283,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Schwarz Dygos Wheeler Investment Advisors LLC boosted its stake in shares of General Mills by 1.9% during the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company’s stock valued at $565,000 after purchasing an additional 225 shares in the last quarter. Allegheny Financial Group boosted its position in General Mills by 4.8% during the 4th quarter. Allegheny Financial Group now owns 4,904 shares of the company’s stock valued at $228,000 after acquiring an additional 226 shares in the last quarter. Stonebridge Capital Advisors LLC boosted its position in General Mills by 0.7% during the second quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company’s stock valued at $1,702,000 after purchasing an additional 226 shares in the last quarter. Robertson Stephens Wealth Management LLC grew its stake in General Mills by 3.7% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 6,879 shares of the company’s stock worth $320,000 after buying an additional 247 shares during the last quarter. Finally, Montag A & Associates Inc. raised its stake in General Mills by 5.7% in the fourth quarter. Montag A & Associates Inc. now owns 4,648 shares of the company’s stock valued at $216,000 after buying an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of GIS stock opened at $37.21 on Wednesday. General Mills, Inc. has a 52-week low of $31.75 and a 52-week high of $51.68. 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 stock has a market cap of $19.86 billion, a PE ratio of -206.69 and a beta of -0.03. The business has a 50-day simple moving average of $34.79 and a 200-day simple moving average of $38.88.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, beating 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 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. General Mills’s quarterly 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. On average, equities analysts expect that General Mills, Inc. will post 3.07 EPS for the current 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 given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 6.6%. The ex-dividend date is Friday, July 10th. General Mills’s dividend payout ratio (DPR) is currently -1,355.56%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GIS shares. JPMorgan Chase & Co. upped their price objective on shares of General Mills from $31.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, July 2nd. Piper Sandler decreased their price target on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Sanford C. Bernstein downgraded General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 target price on the stock. in a research report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft raised their target price on General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Finally, Morgan Stanley cut their price objective on General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, June 5th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $39.16.

Insiders Place Their Bets

In related news, 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 value of $275,827.50. Following the completion of the transaction, the insider owned 62,283 shares of the company’s stock, valued at approximately $2,148,763.50. This represents a 11.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total value of $342,700.00. Following the transaction, the insider owned 86,002 shares in the company, valued at $2,947,288.54. This represents a 10.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by insiders.

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.