OMERS ADMINISTRATION Corp Makes New Investment in General Mills, Inc. $GIS

OMERS ADMINISTRATION Corp purchased a new position in shares of General Mills, Inc. (NYSE:GIS) in the second quarter, HoldingsChannel reports. The institutional investor purchased 29,279 shares of the company’s stock, valued at approximately $1,019,000.

Several other hedge funds also recently modified their holdings of GIS. Marshall Wace LLP bought a new stake in General Mills in the 2nd quarter valued at $9,188,000. Bank of Nova Scotia increased its holdings in shares of General Mills by 4.1% during the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock worth $3,374,000 after purchasing an additional 2,552 shares during the period. WINTON GROUP Ltd raised its position in shares of General Mills by 112.6% during the second quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock valued at $465,000 after buying an additional 4,752 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of General Mills by 4.9% during the second quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock valued at $4,250,000 after buying an additional 3,814 shares during the last quarter. Finally, Nebula Research & Development LLC lifted its stake in shares of General Mills by 334.2% in the second quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock valued at $1,012,000 after buying an additional 15,041 shares during the period. 75.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

GIS has been the topic of a number of recent research reports. Piper Sandler decreased their target price on General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Morgan Stanley reduced their price objective on General Mills from $37.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, June 5th. Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. TD Cowen lowered their price objective on General Mills from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday, July 2nd. Finally, Bank of America upped their target price on General Mills from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat, General Mills has a consensus rating of “Reduce” and a consensus target price of $39.16.

General Mills Stock Up 0.9%

Shares of GIS opened at $40.42 on Friday. 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 company has a 50-day moving average price of $37.15 and a two-hundred day moving average price of $37.50. The stock has a market cap of $21.61 billion, a price-to-earnings ratio of -224.55 and a beta of -0.03. General Mills, Inc. has a 12 month low of $31.75 and a 12 month high of $51.33.

General Mills (NYSE:GIS) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.59 billion. During the same period in the prior year, the company posted $0.53 EPS. The company’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. 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 was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date was Friday, July 10th. General Mills’s dividend payout ratio is -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.