Kingsview Wealth Management LLC Cuts Holdings in General Mills, Inc. $GIS

Kingsview Wealth Management LLC reduced its holdings in General Mills, Inc. (NYSE:GIS) by 10.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 145,905 shares of the company’s stock after selling 17,726 shares during the quarter. Kingsview Wealth Management LLC’s holdings in General Mills were worth $5,077,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Reflection Asset Management purchased a new position in shares of General Mills in the 4th quarter valued at about $25,000. Nalls Sherbakoff Group LLC acquired a new stake in shares of General Mills in the fourth quarter valued at about $26,000. Bruce G. Allen Investments LLC boosted its holdings in General Mills by 139.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after buying an additional 337 shares in the last quarter. Zions Bancorporation National Association UT boosted its holdings in General Mills by 248.1% during the fourth quarter. Zions Bancorporation National Association UT now owns 630 shares of the company’s stock worth $29,000 after buying an additional 449 shares in the last quarter. Finally, Binnacle Investments Inc grew its position in General Mills by 312.5% during the third quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock worth $33,000 after buying an additional 500 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Performance

NYSE:GIS opened at $41.55 on Friday. 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 market capitalization of $22.21 billion, a P/E ratio of -230.82 and a beta of -0.03. The firm has a 50-day moving average price of $37.32 and a two-hundred day moving average price of $37.53. General Mills, Inc. has a twelve month low of $31.75 and a twelve month high of $51.33.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate 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 negative net margin of 0.48% and a positive return on equity of 21.37%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior 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, research analysts expect that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a $0.61 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a yield of 5.9%. General Mills’s dividend payout ratio is presently -1,355.56%.

Wall Street Analysts Forecast Growth

GIS has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, July 2nd. Bank of America boosted their price target on General Mills from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Piper Sandler lowered their price target on General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $36.00 price objective on shares of General Mills in a research note on Tuesday, June 2nd. Finally, Morgan Stanley reduced their price objective on General Mills from $37.00 to $32.00 and set an “underweight” rating for the company in a report on Friday, June 5th. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the company 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.