Deutsche Bank AG Purchases Shares of 3,042,799 General Mills, Inc. $GIS

Deutsche Bank AG purchased a new stake in shares of General Mills, Inc. (NYSE:GIS) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,042,799 shares of the company’s stock, valued at approximately $105,889,000.

Several other institutional investors have also recently made changes to their positions in GIS. State Street Corp increased its holdings in General Mills by 0.4% during the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock valued at $1,700,060,000 after buying an additional 145,701 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of General Mills by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock worth $915,953,000 after acquiring an additional 488,617 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of General Mills by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock worth $704,170,000 after acquiring an additional 172,200 shares during the last quarter. Morgan Stanley grew its position in shares of General Mills by 2.1% during the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock valued at $457,443,000 after acquiring an additional 200,043 shares during the period. Finally, Invesco Ltd. grew its position in shares of General Mills by 14.6% during the 4th quarter. Invesco Ltd. now owns 8,780,455 shares of the company’s stock valued at $408,291,000 after acquiring an additional 1,115,465 shares during the period. Institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

GIS has been the topic of a number of recent research reports. TD Cowen decreased their target price on General Mills from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. JPMorgan Chase & Co. upped their price target on General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, July 2nd. UBS Group set a $33.00 price objective on General Mills in a research note on Monday, July 6th. Finally, Bank of America raised their price objective on General Mills from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $39.16.

General Mills Stock Performance

Shares of NYSE GIS opened at $40.01 on Thursday. The firm has a fifty day moving average price of $36.41 and a 200-day moving average price of $37.80. 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 stock has a market cap of $21.39 billion, a PE ratio of -222.25 and a beta of -0.03. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $51.33.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.80 by $0.15. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.59 billion. During the same period last year, the firm earned $0.53 EPS. The company’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. Equities analysts anticipate that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a yield of 6.1%. General Mills’s dividend payout ratio (DPR) is currently -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.