Vise Technologies Inc. Buys New Shares in General Mills, Inc. $GIS

Vise Technologies Inc. purchased a new position in General Mills, Inc. (NYSE:GIS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 42,123 shares of the company’s stock, valued at approximately $1,466,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Reflection Asset Management acquired a new stake in shares of General Mills during the fourth quarter worth $25,000. Nalls Sherbakoff Group LLC acquired a new stake in General Mills during the 4th quarter worth about $26,000. Bruce G. Allen Investments LLC lifted its stake in General Mills by 139.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock valued at $27,000 after buying an additional 337 shares in the last quarter. Zions Bancorporation National Association UT boosted its holdings in shares of General Mills by 248.1% in 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 during the period. Finally, Binnacle Investments Inc increased its position in shares of General Mills by 312.5% in the third quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock worth $33,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. BNP Paribas Exane raised their price objective on shares of General Mills from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Morgan Stanley reduced their target price on General Mills from $37.00 to $32.00 and set an “underweight” rating for the company in a report on Friday, June 5th. Weiss Ratings raised General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 2nd. Jefferies Financial Group upped their price target on General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday, July 1st. Finally, Barclays reduced their price objective on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, General Mills has an average rating of “Reduce” and an average target price of $39.16.

General Mills Trading Up 1.0%

Shares of NYSE:GIS opened at $39.99 on Friday. The firm has a fifty day moving average of $36.64 and a two-hundred day moving average of $37.77. The firm has a market capitalization of $21.38 billion, a P/E ratio of -222.15 and a beta of -0.03. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $51.33. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.80 by $0.15. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.59 billion. During the same period in the previous year, the company posted $0.53 EPS. General Mills’s 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, equities analysts expect that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

General Mills Announces Dividend

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

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.