General Mills, Inc. $GIS Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its holdings in shares of General Mills, Inc. (NYSE:GIS) by 267.1% in the first quarter, Holdings Channel.com reports. The firm owned 87,939 shares of the company’s stock after buying an additional 63,987 shares during the period. Y Intercept Hong Kong Ltd’s holdings in General Mills were worth $3,273,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in General Mills by 64.6% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 531,728 shares of the company’s stock valued at $19,791,000 after acquiring an additional 208,700 shares during the period. Elevation Point Wealth Partners LLC increased its holdings in shares of General Mills by 39.5% in the first quarter. Elevation Point Wealth Partners LLC now owns 7,460 shares of the company’s stock valued at $278,000 after buying an additional 2,114 shares in the last quarter. Peregrine Asset Advisers Inc. acquired a new stake in General Mills during the 1st quarter worth about $3,516,000. Keybank National Association OH boosted its holdings in shares of General Mills by 0.8% in the first quarter. Keybank National Association OH now owns 131,510 shares of the company’s stock worth $4,895,000 after buying an additional 1,078 shares during the period. Finally, Root Financial Partners LLC increased its position in shares of General Mills by 592.5% in the first quarter. Root Financial Partners LLC now owns 7,984 shares of the company’s stock worth $297,000 after acquiring an additional 6,831 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Ricardo Fernandez sold 7,995 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the completion of the sale, the insider owned 62,283 shares of the company’s stock, valued at approximately $2,148,763.50. This represents a 11.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the transaction, the insider owned 86,002 shares in the company, valued at approximately $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.30% of the company’s stock.

General Mills Stock Performance

Shares of GIS stock traded up $1.03 during trading on Tuesday, reaching $37.15. The company had a trading volume of 3,216,094 shares, compared to its average volume of 9,509,174. The firm’s 50 day simple moving average is $34.28 and its two-hundred day simple moving average is $39.75. General Mills, Inc. has a one year low of $31.75 and a one year high of $52.51. 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 $19.83 billion, a PE ratio of -206.24 and a beta of -0.03.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) 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 firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.59 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. The company’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. Sell-side analysts forecast that General Mills, Inc. will post 3.06 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.44 annualized dividend and a dividend yield of 6.6%. General Mills’s dividend payout ratio is presently -1,355.56%.

Wall Street Analyst Weigh In

GIS has been the topic of a number of research reports. Weiss Ratings upgraded General Mills from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday. Bank of America lifted their price target on General Mills from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Mizuho dropped their price objective on General Mills from $47.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, March 19th. Jefferies Financial Group raised their price objective on shares of General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday, July 1st. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $36.00 target price on shares of General Mills in a research note on Tuesday, June 2nd. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat, General Mills has an average rating of “Reduce” and a consensus target price 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.