General Mills, Inc. $GIS Shares Bought by Saudi Central Bank

Saudi Central Bank lifted its holdings in shares of General Mills, Inc. (NYSE:GIS) by 89.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 37,358 shares of the company’s stock after acquiring an additional 17,663 shares during the period. Saudi Central Bank’s holdings in General Mills were worth $1,300,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Compass Financial Management LLC purchased a new stake in General Mills in the 2nd quarter valued at about $76,000. AlphaGrep UK Ltd purchased a new stake in General Mills in the second quarter valued at approximately $804,000. OceanIQ Capital LLC acquired a new position in General Mills during the second quarter worth approximately $305,000. BAM Wealth Management LLC purchased a new position in General Mills during the second quarter worth approximately $208,000. Finally, Raiffeisen Bank International AG raised its stake in General Mills by 19.0% during the second quarter. Raiffeisen Bank International AG now owns 72,111 shares of the company’s stock worth $2,623,000 after purchasing an additional 11,532 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Down 1.7%

Shares of NYSE:GIS opened at $37.66 on Wednesday. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $51.33. 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 cap of $20.13 billion, a PE ratio of -209.19, a price-to-earnings-growth ratio of 2.08 and a beta of -0.01. The company has a fifty day simple moving average of $37.94 and a 200 day simple moving average of $37.06.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.15. The company had revenue of $4.61 billion for 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 quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, equities research analysts anticipate that General Mills, Inc. will post 3.06 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s dividend payout ratio is currently -1,355.56%.

Wall Street Analysts Forecast Growth

GIS has been the topic of several research reports. BNP Paribas Exane increased their target price on General Mills from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. Jefferies Financial Group raised their price objective on General Mills from $33.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, July 1st. Wells Fargo & Company boosted their target price on General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a 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 target price for the company. in a research report on Wednesday, June 3rd. Finally, Morgan Stanley reduced their price target on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $39.37.

General Mills Profile

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.