18,347 Shares in General Mills, Inc. $GIS Purchased by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC acquired a new stake in shares of General Mills, Inc. (NYSE:GIS) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 18,347 shares of the company’s stock, valued at approximately $667,000.

Several other large investors have also bought and sold shares of GIS. L2 Asset Management LLC bought a new position in shares of General Mills in the second quarter worth approximately $287,000. Aberdeen Wealth Management LLC purchased a new stake in shares of General Mills during the second quarter valued at approximately $188,000. Cibc World Market Inc. bought a new stake in shares of General Mills during the second quarter valued at approximately $1,157,000. OMERS ADMINISTRATION Corp purchased a new position in General Mills in the 2nd quarter worth approximately $1,019,000. Finally, Osmosis Investment Management UK Ltd purchased a new position in General Mills in the 2nd quarter worth approximately $359,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Performance

Shares of GIS opened at $39.80 on Wednesday. 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 one year low of $31.75 and a one year high of $51.33. The firm has a market capitalization of $21.28 billion, a P/E ratio of -221.10 and a beta of -0.03. The business has a fifty day moving average of $36.88 and a 200 day moving average of $37.61.

General Mills (NYSE:GIS) last posted its earnings results 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. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.General Mills’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, sell-side analysts anticipate that General Mills, Inc. will post 3.07 EPS for the current year.

General Mills Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on GIS. Barclays cut their target price on General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, May 11th. Wells Fargo & Company boosted their target price on General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. raised their price target on shares of General Mills from $31.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, July 2nd. UBS Group set a $33.00 price target on shares of General Mills in a research note on Monday, July 6th. Finally, Zacks Research raised shares of General Mills from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $39.16.

General Mills Company 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.