Investmark Advisory Group LLC Invests $2.83 Million in General Mills, Inc. $GIS

Investmark Advisory Group LLC acquired a new position in General Mills, Inc. (NYSE:GIS) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 81,386 shares of the company’s stock, valued at approximately $2,832,000. General Mills accounts for approximately 1.1% of Investmark Advisory Group LLC’s portfolio, making the stock its 21st largest holding.

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in General Mills in the 2nd quarter worth about $2,181,608,000. State Street Corp raised its holdings in shares of General Mills by 0.4% during the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock valued at $1,700,060,000 after buying an additional 145,701 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of General Mills by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock valued at $915,953,000 after buying an additional 488,617 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of General Mills by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock worth $704,170,000 after buying an additional 172,200 shares during the period. Finally, Morgan Stanley boosted its position in shares of General Mills by 2.1% during the fourth quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock worth $457,443,000 after buying an additional 200,043 shares during the period. 75.71% of the stock is currently owned by institutional investors.

General Mills Stock Performance

GIS opened at $38.17 on Wednesday. The company has a market capitalization of $20.37 billion, a price-to-earnings ratio of -212.07 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, Inc. has a 1-year low of $31.75 and a 1-year high of $51.33. The business has a 50 day moving average price of $36.29 and a two-hundred day moving average price of $37.83.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) 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 firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.59 billion. During the same period last year, the company posted $0.53 EPS. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Research analysts predict that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 annualized dividend and a yield of 6.4%. General Mills’s dividend payout ratio (DPR) is currently -1,355.56%.

Analyst Ratings Changes

Several analysts recently commented on the company. Weiss Ratings upgraded General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 2nd. TD Cowen reduced their price target on General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, July 2nd. Barclays decreased their price target on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft raised their price target on General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $36.00 price objective on shares of General Mills in a research note on Tuesday, June 2nd. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, General Mills currently has an average rating of “Reduce” and a consensus price target 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.