Pallas Capital Advisors LLC Invests $723,000 in General Mills, Inc. $GIS

Pallas Capital Advisors LLC purchased a new stake in General Mills, Inc. (NYSE:GIS) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 20,774 shares of the company’s stock, valued at approximately $723,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GIS. Reflection Asset Management purchased a new stake in General Mills during the fourth quarter worth about $25,000. Nalls Sherbakoff Group LLC purchased a new position in General Mills in the fourth quarter valued at about $26,000. Brown Shipley& Co Ltd acquired a new stake in shares of General Mills during the 1st quarter valued at approximately $26,000. Bruce G. Allen Investments LLC lifted its position in shares of General Mills by 139.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock valued at $27,000 after acquiring an additional 337 shares during the period. Finally, Main Street Group LTD purchased a new stake in shares of General Mills during the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Trading Up 5.1%

Shares of GIS opened at $40.01 on Thursday. The stock has a fifty day moving average of $36.41 and a two-hundred day moving average of $37.80. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68. The company has a market capitalization of $21.39 billion, a PE ratio of -222.25 and a beta of -0.03. General Mills, Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $51.33.

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

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given a dividend of $0.61 per share. The ex-dividend date was Friday, July 10th. This represents a $2.44 annualized dividend and a yield of 6.1%. General Mills’s dividend payout ratio is -1,355.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GIS shares. TD Cowen lowered their price target on General Mills from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday, July 2nd. 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. Barclays lowered their target price on General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, May 11th. Weiss Ratings upgraded General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Four 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $39.16.

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.