Corient Private Wealth LP Raises Stock Position in General Mills, Inc. $GIS

Corient Private Wealth LP boosted its position in shares of General Mills, Inc. (NYSE:GIS) by 176.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 291,270 shares of the company’s stock after purchasing an additional 185,903 shares during the period. Corient Private Wealth LP’s holdings in General Mills were worth $10,136,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Reflection Asset Management bought a new position in General Mills in the 4th quarter valued at $25,000. Nalls Sherbakoff Group LLC bought a new position in shares of General Mills in the fourth quarter worth $26,000. Brown Shipley& Co Ltd bought a new position in shares of General Mills in the first quarter worth $26,000. Silvant Capital Management LLC purchased a new stake in shares of General Mills in the second quarter worth $26,000. Finally, Bruce G. Allen Investments LLC raised its position in shares of 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 buying an additional 337 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

NYSE GIS opened at $41.55 on Friday. General Mills, Inc. has a 52-week low of $31.75 and a 52-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 company has a market capitalization of $22.21 billion, a P/E ratio of -230.82 and a beta of -0.03. The company has a fifty day moving average of $37.32 and a 200-day moving average of $37.53.

General Mills (NYSE:GIS) last announced 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. The company had revenue of $4.61 billion during 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 firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, equities research analysts predict that General Mills, Inc. will post 3.06 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 $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Friday, July 10th. General Mills’s dividend payout ratio is presently -1,355.56%.

Analysts Set New Price Targets

Several research firms recently commented on GIS. Barclays reduced their target price on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, May 11th. Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Wells Fargo & Company lifted their price target on General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, July 2nd. The Goldman Sachs Group reissued a “neutral” rating and set a $36.00 price objective on shares of General Mills in a report on Tuesday, June 2nd. Finally, Sanford C. Bernstein lowered General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price objective for the company. in a report on Wednesday, June 3rd. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the company has an average 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.