NewEdge Advisors LLC Buys 52,046 Shares of General Mills, Inc. $GIS

NewEdge Advisors LLC raised its stake in General Mills, Inc. (NYSE:GIS) by 72.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 123,524 shares of the company’s stock after buying an additional 52,046 shares during the period. NewEdge Advisors LLC’s holdings in General Mills were worth $4,598,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Reflection Asset Management purchased a new position in shares of General Mills during the fourth quarter worth approximately $25,000. Nalls Sherbakoff Group LLC purchased a new stake in shares of General Mills in the fourth quarter valued at approximately $26,000. Brown Shipley& Co Ltd bought a new position in General Mills in the first quarter worth approximately $26,000. Bruce G. Allen Investments LLC grew its stake in General Mills by 139.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after purchasing an additional 337 shares in the last quarter. Finally, Main Street Group LTD purchased a new position in General Mills during the 1st quarter worth $27,000. 75.71% of the stock is currently owned by institutional investors.

General Mills Trading Up 1.8%

NYSE:GIS opened at $37.93 on Wednesday. General Mills, Inc. has a 52 week low of $31.75 and a 52 week high of $51.33. The firm has a 50 day moving average of $35.72 and a 200 day moving average of $38.04. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $20.24 billion, a price-to-earnings ratio of -210.70 and a beta of -0.03.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.15. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates 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 for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, sell-side analysts anticipate that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 6.4%. The ex-dividend date was Friday, July 10th. General Mills’s payout ratio is -1,355.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, July 2nd. Bank of America raised their price target on General Mills from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. TD Cowen decreased their price objective on General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, July 2nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $36.00 price objective on shares of General Mills in a research note on Tuesday, June 2nd. Finally, UBS Group set a $33.00 target price on shares of General Mills in a report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and seven have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $39.16.

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.