Handelsbanken Fonder AB Acquires 24,460 Shares of General Mills, Inc. $GIS

Handelsbanken Fonder AB lifted its stake in General Mills, Inc. (NYSE:GIS) by 8.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 324,415 shares of the company’s stock after purchasing an additional 24,460 shares during the quarter. Handelsbanken Fonder AB’s holdings in General Mills were worth $16,357,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GIS. Vanguard Group Inc. lifted its position in shares of General Mills by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 69,346,225 shares of the company’s stock valued at $3,592,828,000 after acquiring an additional 581,045 shares during the period. State Street Corp raised its position in shares of General Mills by 0.8% in the 2nd quarter. State Street Corp now owns 33,572,271 shares of the company’s stock valued at $1,739,379,000 after buying an additional 250,113 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of General Mills by 1.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 19,307,064 shares of the company’s stock worth $1,000,299,000 after acquiring an additional 265,870 shares during the period. Geode Capital Management LLC boosted its position in shares of General Mills by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 15,173,940 shares of the company’s stock worth $786,954,000 after acquiring an additional 170,587 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in General Mills by 15.9% during the third quarter. Nordea Investment Management AB now owns 9,956,665 shares of the company’s stock valued at $494,548,000 after purchasing an additional 1,368,041 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling at General Mills

In related news, insider Paul Joseph Gallagher sold 1,500 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $48.15, for a total value of $72,225.00. Following the transaction, the insider owned 48,568 shares in the company, valued at $2,338,549.20. The trade was a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by company insiders.

General Mills Stock Up 0.6%

Shares of GIS opened at $45.21 on Friday. The stock’s 50-day moving average price is $45.80 and its two-hundred day moving average price is $47.51. General Mills, Inc. has a 12 month low of $42.78 and a 12 month high of $67.35. The company has a market capitalization of $24.12 billion, a PE ratio of 9.72 and a beta of -0.06. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.30.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 17th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.07. General Mills had a return on equity of 21.41% and a net margin of 13.51%.The company had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the company earned $1.40 earnings per share. The firm’s revenue was down 7.2% compared to the same quarter last year. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. On average, analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Friday, April 10th. General Mills’s dividend payout ratio is currently 52.47%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. TD Cowen dropped their price objective on General Mills from $47.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, February 18th. Barclays lowered their price objective on shares of General Mills from $52.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 18th. Jefferies Financial Group decreased their target price on shares of General Mills from $50.00 to $47.00 and set a “hold” rating on the stock in a research note on Thursday, December 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $51.00 price target on shares of General Mills in a research note on Thursday, December 18th. Finally, Morgan Stanley lowered their target price on General Mills from $47.00 to $44.00 and set an “underweight” rating for the company in a report on Wednesday, February 18th. Four equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $50.42.

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.