The Manufacturers Life Insurance Company Acquires Shares of 299,001 General Mills, Inc. $GIS

The Manufacturers Life Insurance Company acquired a new position in General Mills, Inc. (NYSE:GIS) during the second quarter, HoldingsChannel reports. The fund acquired 299,001 shares of the company’s stock, valued at approximately $10,405,000.

Other large investors also recently made changes to their positions in the company. Fiduciary Financial Advisors acquired a new stake in shares of General Mills in the second quarter valued at $227,000. Manning & Napier Advisors LLC acquired a new position in General Mills during the 2nd quarter worth about $667,000. L2 Asset Management LLC acquired a new position in General Mills during the 2nd quarter worth about $287,000. Aberdeen Wealth Management LLC acquired a new position in General Mills during the 2nd quarter worth about $188,000. Finally, Cibc World Market Inc. bought a new stake in General Mills during the 2nd quarter worth about $1,157,000. Institutional investors own 75.71% of the company’s stock.

General Mills Trading Up 2.7%

GIS opened at $41.55 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. The company has a market cap of $22.21 billion, a price-to-earnings ratio of -230.82 and a beta of -0.03. The firm has a 50 day simple moving average of $37.32 and a 200 day simple moving average of $37.53. General Mills, Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $51.33.

General Mills (NYSE:GIS) last announced its quarterly earnings data 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. The firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations 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 last year, the firm earned $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, sell-side analysts anticipate that General Mills, Inc. will post 3.06 earnings per share for the current year.

General Mills Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have weighed in on GIS shares. JPMorgan Chase & Co. raised their price objective on shares of General Mills from $31.00 to $35.00 and gave the company an “underweight” rating in a research report 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 research report on Wednesday, May 13th. TD Cowen reduced their price objective on General Mills from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday, July 2nd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $36.00 price objective on shares of General Mills in a research report on Tuesday, June 2nd. Finally, 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 research note on Monday, May 11th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price 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.