General Mills, Inc. $GIS Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its stake in General Mills, Inc. (NYSE:GIS) by 5.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,516,724 shares of the company’s stock after selling 152,176 shares during the quarter. Pacer Advisors Inc.’s holdings in General Mills were worth $93,672,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of 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 acquiring an additional 145,701 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of 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 worth $915,953,000 after purchasing an additional 488,617 shares in the last quarter. Geode Capital Management LLC increased 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 worth $704,170,000 after purchasing an additional 172,200 shares in the last quarter. Morgan Stanley raised its stake in General Mills by 2.1% in the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock valued at $457,443,000 after purchasing an additional 200,043 shares during the last quarter. Finally, Invesco Ltd. raised its stake in General Mills by 14.6% in the 4th quarter. Invesco Ltd. now owns 8,780,455 shares of the company’s stock valued at $408,291,000 after purchasing an additional 1,115,465 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at General Mills

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of General Mills 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 sale, the insider owned 62,283 shares in the company, valued at $2,148,763.50. The trade was a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the transaction, the insider directly owned 86,002 shares in the company, valued at approximately $2,947,288.54. This trade represents a 10.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by company insiders.

General Mills Stock Up 0.3%

Shares of NYSE:GIS opened at $35.85 on Monday. General Mills, Inc. has a 52-week low of $31.75 and a 52-week high of $51.33. The stock has a market cap of $19.13 billion, a P/E ratio of -199.14 and a beta of -0.03. The business has a fifty day moving average of $35.30 and a two-hundred day moving average of $38.44. 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 announced its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.15. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, research analysts expect that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 6.8%. General Mills’s dividend payout ratio (DPR) is -1,355.56%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, July 2nd. Wells Fargo & Company increased their target price on shares of General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, July 2nd. BTIG Research started coverage on shares of General Mills in a research note on Monday, April 13th. They issued a “neutral” rating on the stock. 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. Finally, Barclays dropped their price objective on shares of 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 analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price 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.