Meeder Advisory Services Inc. Takes $1.30 Million Position in General Mills, Inc. $GIS

Meeder Advisory Services Inc. bought a new position in shares of General Mills, Inc. (NYSE:GIS) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 37,422 shares of the company’s stock, valued at approximately $1,302,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in General Mills in the 2nd quarter valued at $2,181,608,000. State Street Corp increased its position in 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 during the period. Charles Schwab Investment Management Inc. increased its position in 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 during the period. Geode Capital Management LLC lifted its holdings in shares of General Mills by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock worth $704,170,000 after buying an additional 172,200 shares in the last quarter. Finally, Morgan Stanley raised its stake in General Mills by 2.1% in the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock worth $457,443,000 after purchasing an additional 200,043 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on General Mills from $31.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, July 2nd. Wells Fargo & Company upped their price objective 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Morgan Stanley decreased their target price on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, June 5th. Finally, TD Cowen dropped their target price on shares of General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $39.16.

General Mills Trading Up 5.1%

Shares of GIS opened at $40.01 on Thursday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68. General Mills, Inc. has a 52-week low of $31.75 and a 52-week high of $51.33. The firm has a market cap of $21.39 billion, a price-to-earnings ratio of -222.25 and a beta of -0.03. The business’s fifty day moving average is $36.41 and its 200-day moving average is $37.80.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.15. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities analysts anticipate that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were issued 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 dividend yield of 6.1%. General Mills’s dividend payout ratio is -1,355.56%.

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.