General Mills, Inc. $GIS Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in General Mills, Inc. (NYSE:GIS) by 152.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 219,587 shares of the company’s stock after acquiring an additional 132,527 shares during the period. Fifth Third Bancorp’s holdings in General Mills were worth $8,173,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GIS. Norges Bank acquired a new stake in General Mills in the 4th quarter valued at $361,552,000. Wellington Management Group LLP raised its position in General Mills by 2,970.1% in the fourth quarter. Wellington Management Group LLP now owns 7,466,693 shares of the company’s stock valued at $347,201,000 after purchasing an additional 7,223,487 shares during the period. AQR Capital Management LLC lifted its stake in shares of General Mills by 366.1% during the fourth quarter. AQR Capital Management LLC now owns 5,117,287 shares of the company’s stock worth $237,954,000 after purchasing an additional 4,019,319 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new position in shares of General Mills during the second quarter worth about $84,862,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of General Mills by 61.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,141,691 shares of the company’s stock worth $192,589,000 after buying an additional 1,573,444 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Activity

In related news, insider Ricardo Fernandez sold 7,995 shares of the business’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 sale, the insider directly owned 62,283 shares of the company’s stock, valued at $2,148,763.50. The trade was a 11.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the sale, the insider owned 86,002 shares in the company, valued at $2,947,288.54. The trade was 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 owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GIS. The Goldman Sachs Group reiterated a “neutral” rating and issued a $36.00 target price on shares of General Mills in a research note on Tuesday, June 2nd. Jefferies Financial Group boosted their price target on General Mills from $33.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, July 1st. Bank of America upped their price target on General Mills from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. Sanford C. Bernstein downgraded shares of General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price objective for the company. in a research report on Wednesday, June 3rd. Finally, Piper Sandler dropped their price objective on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $39.16.

General Mills Trading Up 2.0%

NYSE GIS opened at $37.19 on Thursday. The company has a market capitalization of $19.85 billion, a price-to-earnings ratio of -206.62 and a beta of -0.03. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. General Mills, Inc. has a 12 month low of $31.75 and a 12 month high of $51.68. The company’s fifty day moving average price is $34.53 and its two-hundred day moving average price is $39.13.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.15. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The company’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, research analysts predict that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Announces Dividend

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 paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Friday, July 10th. General Mills’s dividend payout ratio (DPR) is -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.