538,303 Shares in General Mills, Inc. $GIS Bought by Danske Bank A S

Danske Bank A S bought a new position in shares of General Mills, Inc. (NYSE:GIS) during the second quarter, Holdings Channel.com reports. The fund bought 538,303 shares of the company’s stock, valued at approximately $18,733,000.

Other hedge funds have also recently bought and sold shares of the company. Reflection Asset Management acquired a new stake in General Mills in the 4th quarter worth $25,000. Nalls Sherbakoff Group LLC bought a new position in General Mills during the fourth quarter valued at about $26,000. Bruce G. Allen Investments LLC grew its holdings in shares of General Mills by 139.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after purchasing an additional 337 shares in the last quarter. Zions Bancorporation National Association UT increased its position in shares of General Mills by 248.1% during the fourth quarter. Zions Bancorporation National Association UT now owns 630 shares of the company’s stock valued at $29,000 after purchasing an additional 449 shares during the period. Finally, Binnacle Investments Inc raised its stake in shares of General Mills by 312.5% in the third quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, July 2nd. BNP Paribas Exane boosted their price target on shares of General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. TD Cowen dropped their price objective on shares of General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, July 2nd. Barclays reduced their price objective on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. Finally, Weiss Ratings upgraded shares of General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, General Mills currently has a consensus rating of “Reduce” and an average target price of $39.16.

General Mills Trading Down 0.7%

Shares of GIS opened at $39.70 on Friday. 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 stock has a market cap of $21.22 billion, a PE ratio of -220.54 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 stock has a 50 day simple moving average of $36.53 and a 200-day simple moving average of $37.75.

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

General Mills Dividend Announcement

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