Kentucky Farm Bureau Mutual Insurance Co Purchases Shares of 37,500 General Mills, Inc. $GIS

Kentucky Farm Bureau Mutual Insurance Co purchased a new position in shares of General Mills, Inc. (NYSE:GIS) during the 2nd quarter, Holdings Channel reports. The fund purchased 37,500 shares of the company’s stock, valued at approximately $1,305,000.

A number of other large investors also recently modified their holdings of the business. Reflection Asset Management acquired a new stake in shares of General Mills in the fourth quarter valued at about $25,000. Nalls Sherbakoff Group LLC bought a new stake in General Mills during the fourth quarter worth about $26,000. Brown Shipley& Co Ltd acquired a new position in General Mills during the first quarter valued at approximately $26,000. Bruce G. Allen Investments LLC grew its stake in General Mills by 139.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock valued at $27,000 after purchasing an additional 337 shares in the last quarter. Finally, Main Street Group LTD bought a new position in General Mills in the first quarter valued at approximately $27,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Sanford C. Bernstein cut General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 price objective on the stock. in a research note on Wednesday, June 3rd. BNP Paribas Exane raised their target price on shares of General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Jefferies Financial Group upped their price target on shares of General Mills from $33.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, July 1st. Wells Fargo & Company increased their price target on shares of General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, July 2nd. Finally, Morgan Stanley decreased their price objective on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, June 5th. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $39.16.

General Mills Stock Up 5.1%

GIS stock opened at $40.01 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $21.39 billion, a PE ratio of -222.25 and a beta of -0.03. General Mills, Inc. has a 1-year low of $31.75 and a 1-year high of $51.33. The business’s 50 day simple moving average is $36.41 and its 200 day simple moving average is $37.80.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.15. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.59 billion. During the same quarter in the prior year, the business earned $0.53 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, research analysts anticipate that General Mills, Inc. will post 3.07 EPS for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date was Friday, July 10th. General Mills’s dividend payout ratio (DPR) 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.