Edmond DE Rothschild Holding S.A. Takes Position in General Mills, Inc. $GIS

Edmond DE Rothschild Holding S.A. purchased a new position in shares of General Mills, Inc. (NYSE:GIS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 535,887 shares of the company’s stock, valued at approximately $18,649,000. Edmond DE Rothschild Holding S.A. owned 0.10% of General Mills as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in General Mills in the 2nd quarter valued at approximately $2,181,608,000. State Street Corp raised its stake in shares of General Mills by 0.4% during the 3rd quarter. State Street Corp now owns 33,717,972 shares of the company’s stock worth $1,700,060,000 after buying an additional 145,701 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of General Mills by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock worth $915,953,000 after buying an additional 488,617 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of General Mills by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock valued at $704,170,000 after buying an additional 172,200 shares during the period. Finally, Morgan Stanley boosted its stake in shares of General Mills by 2.1% in the fourth quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock valued at $457,443,000 after buying an additional 200,043 shares in the last quarter. 75.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. BNP Paribas Exane upped their price target on shares of General Mills from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. TD Cowen cut their price target on shares of General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a report 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 research note on Monday, May 11th. Finally, Wells Fargo & Company boosted their price objective on shares of General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $39.16.

General Mills Stock Up 5.1%

GIS opened at $40.01 on Thursday. The business’s fifty day moving average is $36.41 and its two-hundred day moving average is $37.80. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68. The company has a market cap of $21.39 billion, a price-to-earnings ratio of -222.25 and a beta of -0.03. General Mills, Inc. has a one year low of $31.75 and a one year high of $51.33.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share 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 positive return on equity of 21.37% and a negative net margin of 0.48%.General Mills’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Analysts anticipate that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

General Mills Dividend Announcement

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

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.