Canada Pension Plan Investment Board Purchases New Stake in General Mills, Inc. $GIS

Canada Pension Plan Investment Board purchased a new stake in shares of General Mills, Inc. (NYSE:GIS) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 341,855 shares of the company’s stock, valued at approximately $11,897,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Reflection Asset Management bought a new position in shares of General Mills in the fourth quarter valued at about $25,000. Nalls Sherbakoff Group LLC bought a new position in General Mills in the 4th quarter valued at about $26,000. Brown Shipley& Co Ltd acquired a new stake in General Mills during the first quarter worth approximately $26,000. Silvant Capital Management LLC acquired a new stake in General Mills during the second quarter worth approximately $26,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in shares of General Mills by 139.8% during the fourth 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. 75.71% of the stock is owned by institutional investors.

General Mills Trading Up 2.7%

Shares of GIS stock opened at $41.55 on Friday. The stock has a market cap of $22.21 billion, a P/E ratio of -230.82 and a beta of -0.03. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $51.33. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. The stock has a 50 day simple moving average of $37.32 and a 200 day simple moving average of $37.53.

General Mills (NYSE:GIS) last released its 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. 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 for the quarter, compared to analyst estimates of $4.59 billion. During the same period in the prior year, the firm posted $0.53 EPS. General Mills’s quarterly 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 3.06 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Friday, July 10th. General Mills’s dividend payout ratio is presently -1,355.56%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Piper Sandler lowered their target price on General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. BNP Paribas Exane increased their price objective on General Mills from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. Barclays dropped 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. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $36.00 price target on shares of General Mills in a research note on Tuesday, June 2nd. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $39.16.

General Mills Company 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.