Man Group plc Purchases New Stake in General Mills, Inc. $GIS

Man Group plc acquired a new position in shares of General Mills, Inc. (NYSE:GIS) during the second quarter, HoldingsChannel.com reports. The firm acquired 558,610 shares of the company’s stock, valued at approximately $19,440,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Bancorp Inc ME purchased a new stake in General Mills in the 2nd quarter valued at $78,000. Roberts Glore & Co. Inc. IL purchased a new position in shares of General Mills during the 2nd quarter worth $408,000. Jupiter Topco LLC purchased a new position in shares of General Mills during the 2nd quarter worth $3,002,000. EFG International AG acquired a new position in shares of General Mills during the 2nd quarter valued at about $395,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of General Mills during the 2nd quarter valued at about $11,897,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Up 0.9%

General Mills stock opened at $40.42 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 firm has a market capitalization of $21.61 billion, a P/E ratio of -224.55 and a beta of -0.03. The stock’s fifty day simple moving average is $37.15 and its 200-day simple moving average is $37.50. General Mills, Inc. has a twelve month low of $31.75 and a twelve month high of $51.33.

General Mills (NYSE:GIS) last announced its quarterly 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. The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.59 billion. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, equities analysts expect that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s dividend payout ratio (DPR) is presently -1,355.56%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Zacks Research upgraded shares of General Mills from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Barclays decreased their target price on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, May 11th. Weiss Ratings raised shares of General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Finally, TD Cowen reduced their price target on shares of General Mills from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday, July 2nd. Four equities 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, the stock has a consensus rating of “Reduce” and an average 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.