Rockland Trust Co. Raises Stock Position in General Mills, Inc. $GIS

Rockland Trust Co. increased its position in shares of General Mills, Inc. (NYSE:GIS) by 54.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 322,937 shares of the company’s stock after acquiring an additional 114,154 shares during the quarter. Rockland Trust Co. owned about 0.06% of General Mills worth $11,238,000 as of its most recent SEC filing.

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

General Mills Trading Up 2.0%

Shares of NYSE:GIS opened at $36.81 on Friday. The business has a 50 day moving average of $35.56 and a two-hundred day moving average of $38.18. General Mills, Inc. has a 12-month low of $31.75 and a 12-month high of $51.33. The company has a market capitalization of $19.64 billion, a PE ratio of -204.47 and a beta of -0.03. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68.

General Mills (NYSE:GIS) last released 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. 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 analyst estimates of $4.59 billion. During the same quarter last year, the business earned $0.53 earnings per share. The firm’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, analysts forecast that General Mills, Inc. will post 3.07 EPS for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors 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 yield of 6.6%. General Mills’s dividend payout ratio (DPR) is currently -1,355.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus dropped their price target on General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. UBS Group set a $33.00 target price on shares of General Mills in a research note on Monday, July 6th. Wells Fargo & Company boosted 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. Weiss Ratings upgraded shares of General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 2nd. Finally, BNP Paribas Exane raised their price target on shares of General Mills from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat.com, General Mills has an average rating of “Reduce” and a consensus target price of $39.16.

Insider Activity

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the sale, the insider owned 86,002 shares in the company, valued at $2,947,288.54. This trade represents a 10.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ricardo Fernandez sold 7,995 shares of the business’s 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 sale, the insider owned 62,283 shares of the company’s stock, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by company insiders.

General Mills 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.