NewEdge Advisors LLC Acquires 52,046 Shares of General Mills, Inc. $GIS

NewEdge Advisors LLC increased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 72.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,524 shares of the company’s stock after purchasing an additional 52,046 shares during the quarter. NewEdge Advisors LLC’s holdings in General Mills were worth $4,598,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. LBP AM SA purchased a new stake in General Mills in the 4th quarter worth $2,639,000. Robeco Institutional Asset Management B.V. grew its position in shares of General Mills by 1,824.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 895,225 shares of the company’s stock valued at $41,628,000 after purchasing an additional 848,712 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of General Mills by 13.1% in the fourth quarter. BNP Paribas Financial Markets now owns 1,246,997 shares of the company’s stock worth $57,985,000 after purchasing an additional 144,631 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of General Mills by 10.2% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 711,120 shares of the company’s stock worth $33,186,000 after purchasing an additional 65,817 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of General Mills by 40.5% in the first quarter. KBC Group NV now owns 771,730 shares of the company’s stock worth $28,724,000 after buying an additional 222,602 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Price Performance

GIS stock opened at $37.93 on Wednesday. General Mills, Inc. has a 12 month low of $31.75 and a 12 month high of $51.33. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. The company has a 50-day moving average price of $35.72 and a 200 day moving average price of $38.04. The stock has a market cap of $20.24 billion, a PE ratio of -210.70 and a beta of -0.03.

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, topping 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 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 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. Equities research analysts anticipate that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Announces Dividend

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

Analyst Upgrades and Downgrades

GIS has been the subject of a number of research reports. Bank of America increased their price target on General Mills from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. TD Cowen cut their target price on shares of General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, July 2nd. UBS Group set a $33.00 price target on shares of General Mills in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Finally, Barclays lowered their price objective on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and seven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, General Mills has an average rating of “Reduce” and an average price target of $39.16.

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.