The Manufacturers Life Insurance Company Makes New $10.40 Million Investment in General Mills, Inc. $GIS

The Manufacturers Life Insurance Company purchased a new position in shares of General Mills, Inc. (NYSE:GIS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 299,001 shares of the company’s stock, valued at approximately $10,405,000. The Manufacturers Life Insurance Company owned about 0.06% of General Mills as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. BlackRock Inc. acquired a new position in General Mills during the 2nd quarter valued at $2,181,608,000. State Street Corp grew its position in General Mills by 0.4% in the 3rd quarter. State Street Corp now owns 33,717,972 shares of the company’s stock worth $1,700,060,000 after purchasing an additional 145,701 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of General Mills by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock worth $915,953,000 after purchasing an additional 488,617 shares during the period. Geode Capital Management LLC raised its position in shares of 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 raised its position in shares of 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. 75.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Sanford C. Bernstein cut General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a research report on Wednesday, June 3rd. Piper Sandler cut their target price on General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. JPMorgan Chase & Co. raised their target price on General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, General Mills currently has an average rating of “Reduce” and a consensus target price of $39.16.

General Mills Price Performance

Shares of GIS stock opened at $41.55 on Friday. The stock’s fifty day simple moving average is $37.32 and its 200 day simple moving average is $37.53. General Mills, Inc. has a one year low of $31.75 and a one year high of $51.33. The firm has a market cap of $22.21 billion, a price-to-earnings ratio of -230.82 and a beta of -0.03. 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 (NYSE:GIS) last issued its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 earnings per share (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 company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.59 billion. During the same period last year, the business earned $0.53 earnings per share. The business’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, analysts expect that General Mills, Inc. will post 3.06 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued 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 currently -1,355.56%.

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.