Van ECK Associates Corp Takes $1.25 Million Position in General Mills, Inc. $GIS

Van ECK Associates Corp purchased a new stake in General Mills, Inc. (NYSE:GIS) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 36,055 shares of the company’s stock, valued at approximately $1,255,000.

A number of other institutional investors have also recently added to or reduced their stakes in GIS. Schwarz Dygos Wheeler Investment Advisors LLC increased its stake in shares of General Mills by 1.9% in the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company’s stock worth $565,000 after acquiring an additional 225 shares during the last quarter. Stonebridge Capital Advisors LLC increased its position in General Mills by 0.7% during the second quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company’s stock worth $1,702,000 after purchasing an additional 226 shares during the last quarter. Detalus Advisors LLC raised its stake in General Mills by 4.9% during the fourth quarter. Detalus Advisors LLC now owns 5,360 shares of the company’s stock worth $249,000 after purchasing an additional 250 shares during the period. New England Asset Management Inc. boosted its holdings in General Mills by 0.9% in the 3rd quarter. New England Asset Management Inc. now owns 30,935 shares of the company’s stock valued at $1,560,000 after purchasing an additional 280 shares during the last quarter. Finally, Triumph Capital Management boosted its holdings in General Mills by 45.0% in the 2nd quarter. Triumph Capital Management now owns 915 shares of the company’s stock valued at $32,000 after purchasing an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. BNP Paribas Exane raised their price target on shares of General Mills from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. Jefferies Financial Group upped their price objective on General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, July 1st. TD Cowen lowered 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. Deutsche Bank Aktiengesellschaft raised their target price on General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Finally, Piper Sandler reduced their target price on General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $39.37.

General Mills Price Performance

GIS opened at $38.36 on Friday. The stock’s 50-day moving average price is $37.85 and its 200 day moving average price is $37.24. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $51.33. The firm has a market cap of $20.51 billion, a price-to-earnings ratio of -213.10, a PEG ratio of 2.14 and a beta of -0.01. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.15. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.General Mills’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, sell-side analysts expect that General Mills, Inc. will post 3.06 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders 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 dividend yield of 6.4%. General Mills’s dividend payout ratio (DPR) is presently -1,355.56%.

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.