UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 1,371,235 Shares of General Mills, Inc. $GIS

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in General Mills, Inc. (NYSE:GIS) by 19.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 5,808,159 shares of the company’s stock after selling 1,371,235 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in General Mills were worth $202,124,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of General Mills in the 2nd quarter worth approximately $2,181,608,000. State Street Corp grew its position in General Mills by 0.4% during the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock valued at $1,700,060,000 after buying an additional 145,701 shares during the period. Charles Schwab Investment Management Inc. grew its position in General Mills by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock valued at $915,953,000 after buying an additional 488,617 shares during the period. Geode Capital Management LLC increased its holdings in General Mills by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock valued at $704,170,000 after buying an additional 172,200 shares during the last quarter. Finally, Morgan Stanley increased its holdings in General Mills by 2.1% during the fourth quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock valued at $457,443,000 after buying an additional 200,043 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Trading Down 0.7%

Shares of General Mills stock opened at $41.25 on Tuesday. General Mills, Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $51.33. 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 $22.05 billion, a P/E ratio of -229.15 and a beta of -0.03. The company has a fifty day moving average of $37.47 and a 200 day moving average of $37.40.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.15. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.59 billion. During the same period last year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, sell-side analysts anticipate that General Mills, Inc. will post 3.06 earnings per share for the current fiscal 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 paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s dividend payout ratio (DPR) is -1,355.56%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GIS shares. Bank of America lifted their price target on shares of General Mills from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. TD Cowen decreased their target price on General Mills from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday, July 2nd. UBS Group set a $33.00 target price on General Mills in a research report on Monday, July 6th. Jefferies Financial Group boosted their price target on General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, July 1st. Finally, Piper Sandler reduced their price target on General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus 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.