Connor Clark & Lunn Investment Management Ltd. Invests $7.86 Million in General Mills, Inc. $GIS

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of General Mills, Inc. (NYSE:GIS) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 225,809 shares of the company’s stock, valued at approximately $7,858,000.

A number of other hedge funds also recently bought and sold shares of GIS. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of General Mills in the 2nd quarter valued at $369,000. Te Ahumairangi Investment Management Ltd purchased a new stake in General Mills in the 2nd quarter worth approximately $3,845,000. Haverford Trust Co bought a new stake in General Mills in the second quarter valued at $254,000. Clear Harbor Asset Management LLC bought a new stake in shares of General Mills during the 2nd quarter valued at about $753,000. Finally, Bank of Nova Scotia bought a new stake in General Mills during the 2nd quarter valued at approximately $5,195,000. Institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

Shares of NYSE GIS opened at $40.06 on Thursday. The firm has a market cap of $21.42 billion, a P/E ratio of -222.54 and a beta of -0.03. General Mills, Inc. has a twelve month low of $31.75 and a twelve month high of $51.33. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. The company has a 50 day moving average of $37.01 and a 200 day moving average of $37.55.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, topping 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 business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.59 billion. During the same quarter in the previous year, the firm earned $0.53 EPS. General Mills’s 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. As a group, research analysts expect that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

General Mills Announces Dividend

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

Wall Street Analyst Weigh In

GIS has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, July 2nd. TD Cowen cut their price target on General Mills from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday, July 2nd. Barclays reduced their price objective on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, May 11th. Jefferies Financial Group lifted their price objective on General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, July 1st. Finally, Piper Sandler dropped their target price on General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Mills currently has a consensus 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.