Element Capital Management LLC Takes Position in General Mills, Inc. $GIS

Element Capital Management LLC acquired a new stake in shares of General Mills, Inc. (NYSE:GIS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 158,400 shares of the company’s stock, valued at approximately $5,512,000. General Mills accounts for approximately 0.2% of Element Capital Management LLC’s holdings, making the stock its 24th biggest holding.

Other large investors also recently bought and sold shares of the company. Legal & General Group Plc purchased a new stake in General Mills during the second quarter worth $121,707,000. The Manufacturers Life Insurance Company purchased a new position in shares of General Mills in the 2nd quarter valued at $10,405,000. Fiduciary Financial Advisors purchased a new position in shares of General Mills in the 2nd quarter valued at $227,000. Manning & Napier Advisors LLC bought a new position in shares of General Mills in the 2nd quarter worth $667,000. Finally, L2 Asset Management LLC bought a new position in shares of General Mills in the 2nd quarter worth $287,000. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Down 2.7%

Shares of GIS stock opened at $39.80 on Wednesday. The stock’s fifty day moving average price is $36.88 and its 200 day moving average price is $37.61. General Mills, Inc. has a 1-year low of $31.75 and a 1-year high of $51.33. The company has a market cap of $21.28 billion, a price-to-earnings ratio of -221.10 and a beta of -0.03. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40.

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

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s dividend payout ratio (DPR) is presently -1,355.56%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GIS. Barclays dropped their price objective on General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, May 11th. Piper Sandler reduced their target price on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft increased their price target on shares of General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Sanford C. Bernstein downgraded 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 research report on Wednesday, June 3rd. Finally, Zacks Research upgraded shares of General Mills from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $39.16.

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.