Simplicity Wealth LLC Buys Shares of 14,908 General Mills, Inc. $GIS

Simplicity Wealth LLC bought a new stake in General Mills, Inc. (NYSE:GIS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 14,908 shares of the company’s stock, valued at approximately $519,000.

Other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in General Mills by 13.1% during the fourth quarter. BNP Paribas Financial Markets now owns 1,246,997 shares of the company’s stock valued at $57,985,000 after purchasing an additional 144,631 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of General Mills by 10.2% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 711,120 shares of the company’s stock worth $33,186,000 after purchasing an additional 65,817 shares in the last quarter. KBC Group NV lifted its holdings in shares of General Mills by 40.5% during the 1st quarter. KBC Group NV now owns 771,730 shares of the company’s stock valued at $28,724,000 after buying an additional 222,602 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of General Mills by 140.2% in the 4th quarter. Fifth Third Bancorp now owns 87,060 shares of the company’s stock valued at $4,048,000 after buying an additional 50,822 shares in the last quarter. Finally, Delta Global Management LP acquired a new position in General Mills in the first quarter worth approximately $1,849,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Price Performance

General Mills stock opened at $37.94 on Tuesday. The business has a 50 day simple moving average of $36.20 and a 200 day simple moving average of $37.87. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. The company has a market capitalization of $20.25 billion, a PE ratio of -210.77 and a beta of -0.03. General Mills, Inc. has a one year low of $31.75 and a one year high of $51.33.

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

General Mills Announces Dividend

The company also recently announced 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. The ex-dividend date 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 (DPR) is -1,355.56%.

Analyst Ratings Changes

A number of research firms have issued reports on GIS. Zacks Research upgraded shares of General Mills from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Bank of America lifted their price target on General Mills from $36.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. Piper Sandler cut their price objective on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Stifel Nicolaus cut their price target on General Mills from $44.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. raised their price objective on General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, July 2nd. 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 company’s stock. Based on data from MarketBeat.com, General Mills currently has an average rating of “Reduce” and a consensus target price of $39.16.

General Mills Company 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.