Evolve Private Wealth LLC Buys Shares of 31,003 General Mills, Inc. $GIS

Evolve Private Wealth LLC purchased a new position in shares of General Mills, Inc. (NYSE:GIS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 31,003 shares of the company’s stock, valued at approximately $1,079,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GIS. Farringdon Capital Ltd. bought a new position in General Mills during the second quarter worth $328,000. Varma Mutual Pension Insurance Co bought a new stake in General Mills during the second quarter valued at $10,836,000. Westpac Banking Corp bought a new stake in General Mills during the second quarter valued at $1,272,000. Landscape Capital Management L.L.C. acquired a new stake in General Mills during the 2nd quarter worth about $6,538,000. Finally, Concord Investment Counsel Inc. acquired a new stake in General Mills during the 2nd quarter worth about $76,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Price Performance

GIS stock opened at $39.99 on Monday. The stock has a market capitalization of $21.38 billion, a PE ratio of -222.15 and a beta of -0.03. The company’s 50-day moving average is $36.64 and its 200-day moving average is $37.71. 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, Inc. has a 1 year low of $31.75 and a 1 year high of $51.33.

General Mills (NYSE:GIS) last issued its 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 the consensus estimate of $4.59 billion. During the same period last year, the business posted $0.53 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities research analysts expect that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

General Mills Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GIS. The Goldman Sachs Group reissued a “neutral” rating and issued a $36.00 price objective on shares of General Mills in a research note on Tuesday, June 2nd. Morgan Stanley decreased their target price on General Mills from $37.00 to $32.00 and set an “underweight” rating for the company in a research note on Friday, June 5th. Barclays lowered their target price on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft increased 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. Finally, Bank of America raised their price objective on shares of General Mills from $36.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average 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.