Daiichi Life Insurance Co. Ltd. Purchases New Position in General Mills, Inc. $GIS

Daiichi Life Insurance Co. Ltd. purchased a new stake in General Mills, Inc. (NYSE:GIS) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 18,564 shares of the company’s stock, valued at approximately $646,000.

Several other hedge funds have also recently bought and sold shares of GIS. BlackRock Inc. acquired a new position in shares of General Mills in the second quarter valued at approximately $2,181,608,000. State Street Corp increased its stake in shares of General Mills by 0.4% during the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock worth $1,700,060,000 after purchasing an additional 145,701 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in General Mills by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock worth $915,953,000 after purchasing an additional 488,617 shares during the last quarter. Geode Capital Management LLC lifted its holdings in General Mills by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock worth $704,170,000 after purchasing an additional 172,200 shares during the last quarter. Finally, Morgan Stanley boosted its stake in General Mills by 2.1% in the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock valued at $457,443,000 after purchasing an additional 200,043 shares during the period. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GIS has been the topic of a number of research reports. BNP Paribas Exane upped their price objective on General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Jefferies Financial Group lifted their target price on General Mills from $33.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, July 1st. UBS Group set a $33.00 target price on shares of General Mills in a research report on Monday, July 6th. Morgan Stanley decreased their price target on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday, June 5th. Finally, Sanford C. Bernstein lowered shares of General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price target on the stock. in a research report on Wednesday, June 3rd. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $39.16.

General Mills Trading Up 2.4%

Shares of GIS stock opened at $40.92 on Tuesday. The stock has a market cap of $21.88 billion, a P/E ratio of -227.32 and a beta of -0.03. General Mills, Inc. has a 1 year low of $31.75 and a 1 year 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 stock has a 50 day simple moving average of $36.77 and a 200 day simple moving average of $37.67.

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

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s dividend payout ratio 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.