Nykredit A S Invests $6.88 Million in General Mills, Inc. $GIS

Nykredit A S 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 Securities & Exchange Commission. The fund purchased 197,825 shares of the company’s stock, valued at approximately $6,884,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in General Mills in the second quarter worth about $2,181,608,000. State Street Corp increased its position in General Mills by 0.4% during the 3rd quarter. State Street Corp now owns 33,717,972 shares of the company’s stock valued at $1,700,060,000 after purchasing an additional 145,701 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of General Mills by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock valued at $915,953,000 after purchasing an additional 488,617 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of General Mills by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock worth $704,170,000 after purchasing an additional 172,200 shares during the period. Finally, Morgan Stanley lifted its position in shares of General Mills by 2.1% in the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock worth $457,443,000 after purchasing an additional 200,043 shares during the period. Institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the topic of several research reports. Sanford C. Bernstein lowered shares of General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a report on Wednesday, June 3rd. Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Wells Fargo & Company boosted their price target on General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, July 2nd. Weiss Ratings upgraded General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 2nd. Finally, BNP Paribas Exane raised their price objective on General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Mills has a consensus rating of “Reduce” and a consensus price target of $39.37.

General Mills Stock Down 2.3%

GIS stock opened at $38.36 on Friday. The firm has a 50 day moving average of $37.85 and a 200 day moving average of $37.24. The stock has a market capitalization of $20.51 billion, a PE ratio of -213.10, a price-to-earnings-growth ratio of 2.08 and a beta of -0.01. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. General Mills, Inc. has a 52 week low of $31.75 and a 52 week high of $51.33.

General Mills (NYSE:GIS) last issued 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. The business had revenue of $4.61 billion for 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%. General Mills’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Sell-side analysts forecast that General Mills, Inc. will post 3.06 earnings per share for the current year.

General Mills Announces Dividend

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. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.4%. General Mills’s dividend payout ratio is currently -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.