General Mills, Inc. $GIS Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC grew its stake in General Mills, Inc. (NYSE:GIS) by 41.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,140,772 shares of the company’s stock after acquiring an additional 1,203,993 shares during the quarter. HighTower Advisors LLC owned about 0.77% of General Mills worth $144,099,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. UBS Group set a $33.00 price objective on shares of General Mills in a research note on Monday, July 6th. Wells Fargo & Company lifted 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 General Mills from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Bank of America raised their price objective on General Mills from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Tuesday, September 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, General Mills presently has a consensus rating of “Reduce” and an average price target of $39.37.

General Mills Stock Performance

General Mills stock opened at $38.36 on Monday. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $51.33. The company has a market capitalization of $20.51 billion, a price-to-earnings ratio of -213.10, a price-to-earnings-growth ratio of 2.08 and a beta of -0.01. 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 firm’s fifty day moving average price is $37.85 and its 200 day moving average price is $37.16.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.59 billion. During the same period in the prior year, the company posted $0.53 EPS. The firm’s revenue for the quarter 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, research analysts forecast that General Mills, Inc. will post 3.06 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced 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 dividend yield of 6.4%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s dividend payout ratio is presently -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.