18,347 Shares in General Mills, Inc. $GIS Bought by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC bought a new position in General Mills, Inc. (NYSE:GIS) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 18,347 shares of the company’s stock, valued at approximately $667,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GIS. Marshall Wace LLP purchased a new position in shares of General Mills during the 2nd quarter valued at $9,188,000. Bank of Nova Scotia lifted its holdings in General Mills by 4.1% in the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock worth $3,374,000 after purchasing an additional 2,552 shares in the last quarter. WINTON GROUP Ltd boosted its stake in General Mills by 112.6% in the 2nd quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock worth $465,000 after purchasing an additional 4,752 shares during the period. Daiwa Securities Group Inc. grew its holdings in General Mills by 4.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock valued at $4,250,000 after buying an additional 3,814 shares in the last quarter. Finally, Nebula Research & Development LLC raised its position in shares of General Mills by 334.2% during the second quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock valued at $1,012,000 after buying an additional 15,041 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Trading Down 2.7%

GIS stock opened at $39.80 on Wednesday. The firm has a fifty day moving average price of $36.88 and a 200 day moving average price of $37.61. General Mills, Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $51.33. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68. The firm has a market cap of $21.28 billion, a PE ratio of -221.10 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, beating analysts’ consensus estimates of $0.80 by $0.15. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.59 billion. During the same quarter in the prior year, the firm earned $0.53 earnings per share. General Mills’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. 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. Stockholders of record on Friday, July 10th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 6.1%. The ex-dividend date was Friday, July 10th. General Mills’s dividend payout ratio is currently -1,355.56%.

Wall Street Analyst Weigh In

Several research firms have recently commented on GIS. Morgan Stanley lowered their target price on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, June 5th. UBS Group set a $33.00 price target on shares of General Mills in a report on Monday, July 6th. BNP Paribas Exane boosted their price target on shares of General Mills from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Piper Sandler dropped their price objective on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Finally, TD Cowen cut their price objective on General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Mills currently has an average rating of “Reduce” and a consensus price target 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.