General Mills, Inc. $GIS Shares Bought by KBC Group NV

KBC Group NV grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 40.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 771,730 shares of the company’s stock after acquiring an additional 222,602 shares during the period. KBC Group NV’s holdings in General Mills were worth $28,724,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GIS. Reflection Asset Management purchased a new position in General Mills in the fourth quarter valued at about $25,000. Nalls Sherbakoff Group LLC purchased a new stake in shares of General Mills during the 4th quarter worth approximately $26,000. Bruce G. Allen Investments LLC grew its holdings in shares of General Mills by 139.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after acquiring an additional 337 shares during the period. Zions Bancorporation National Association UT increased its stake in General Mills by 248.1% in the 4th quarter. Zions Bancorporation National Association UT now owns 630 shares of the company’s stock valued at $29,000 after purchasing an additional 449 shares in the last quarter. Finally, Binnacle Investments Inc increased its stake in General Mills by 312.5% in the 3rd quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GIS. The Goldman Sachs Group reissued a “neutral” rating and issued a $36.00 target price on shares of General Mills in a report on Tuesday, June 2nd. Barclays cut their target price on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, May 11th. Stifel Nicolaus lowered their price target on shares of General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Sanford C. Bernstein downgraded General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price objective for the company. in a research report on Wednesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat, General Mills presently has a consensus rating of “Reduce” and an average price target of $39.16.

General Mills Stock Performance

NYSE GIS opened at $37.21 on Wednesday. The business’s 50-day moving average price is $34.79 and its 200 day moving average price is $38.88. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. General Mills, Inc. has a twelve month low of $31.75 and a twelve month high of $51.68. The company has a market capitalization of $19.86 billion, a PE ratio of -206.69 and a beta of -0.03.

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 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 quarter in the previous year, the business earned $0.53 EPS. The firm’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, research analysts predict that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a yield of 6.6%. General Mills’s dividend payout ratio (DPR) is currently -1,355.56%.

Insider Buying and Selling

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the sale, the insider directly owned 86,002 shares in the company, valued at $2,947,288.54. This represents a 10.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Ricardo Fernandez sold 7,995 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the completion of the transaction, the insider directly owned 62,283 shares in the company, valued at $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.30% of the company’s stock.

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.