Global Retirement Partners LLC Makes New $1.03 Million Investment in General Mills, Inc. $GIS

Global Retirement Partners LLC purchased a new position in shares of General Mills, Inc. (NYSE:GIS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 29,506 shares of the company’s stock, valued at approximately $1,027,000.

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company raised their price objective on General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, July 2nd. Piper Sandler cut their price objective on General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Jefferies Financial Group increased their target price on shares of General Mills from $33.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, July 1st. Stifel Nicolaus decreased their target price on shares of General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Finally, Weiss Ratings raised shares of General Mills from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $39.16.

General Mills Price Performance

Shares of General Mills stock opened at $38.17 on Wednesday. The company has a market capitalization of $20.37 billion, a price-to-earnings ratio of -212.07 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 stock’s 50-day simple moving average is $36.29 and its 200-day simple moving average is $37.83. General Mills, Inc. has a 52 week low of $31.75 and a 52 week high of $51.33.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.59 billion. During the same period in the previous year, the firm earned $0.53 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, analysts expect that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were given a dividend of $0.61 per share. The ex-dividend date was Friday, July 10th. This represents a $2.44 annualized dividend and a dividend yield of 6.4%. General Mills’s dividend payout ratio (DPR) is presently -1,355.56%.

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.