General Mills, Inc. $GIS Shares Acquired by Saudi Central Bank

Saudi Central Bank boosted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 89.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,358 shares of the company’s stock after purchasing an additional 17,663 shares during the quarter. Saudi Central Bank’s holdings in General Mills were worth $1,300,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GIS. Marshall Wace LLP acquired a new stake in shares of General Mills in the second quarter valued at approximately $9,188,000. Bank of Nova Scotia boosted its stake in shares of General Mills by 4.1% in the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock valued at $3,374,000 after buying an additional 2,552 shares during the period. WINTON GROUP Ltd grew its stake in shares of General Mills by 112.6% during the second quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock worth $465,000 after purchasing an additional 4,752 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in General Mills by 4.9% in the second quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock valued at $4,250,000 after purchasing an additional 3,814 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its position in shares of General Mills by 334.2% during the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock worth $1,012,000 after buying an additional 15,041 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GIS has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price objective on General Mills from $31.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, July 2nd. Jefferies Financial Group lifted their price objective on shares of General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday, July 1st. Weiss Ratings upgraded shares of General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 2nd. Zacks Research raised shares of General Mills from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Mills has a consensus rating of “Reduce” and a consensus target price of $39.37.

General Mills Stock Performance

NYSE:GIS opened at $37.66 on Wednesday. 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 $20.13 billion, a P/E ratio of -209.19, a price-to-earnings-growth ratio of 2.08 and a beta of -0.01. The firm has a 50-day moving average price of $37.94 and a two-hundred day moving average price of $37.06. General Mills, Inc. has a twelve month low of $31.75 and a twelve month high of $51.33.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. During the same quarter last year, the business posted $0.53 earnings per share. General Mills’s revenue was up 1.2% compared to the same quarter last year. 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 3.06 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company 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 annualized dividend and a yield of 6.5%. General Mills’s payout ratio is presently -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.