General Mills, Inc. $GIS Shares Sold by Synovus Financial Corp

Synovus Financial Corp decreased its holdings in General Mills, Inc. (NYSE:GIS) by 6.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,109 shares of the company’s stock after selling 13,803 shares during the period. Synovus Financial Corp’s holdings in General Mills were worth $11,666,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of GIS. Charles Schwab Investment Management Inc. grew its stake in shares of General Mills by 434.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock worth $1,138,473,000 after acquiring an additional 15,480,835 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new position in shares of General Mills during the first quarter worth $279,570,000. Pacer Advisors Inc. grew its stake in shares of General Mills by 4,775.2% during the first quarter. Pacer Advisors Inc. now owns 3,443,981 shares of the company’s stock worth $205,916,000 after purchasing an additional 3,373,338 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of General Mills by 34.5% during the fourth quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock worth $581,903,000 after purchasing an additional 2,341,137 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of General Mills during the first quarter worth $92,717,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Stock Performance

NYSE GIS opened at $50.1360 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.67 and a quick ratio of 0.43. General Mills, Inc. has a 1 year low of $48.59 and a 1 year high of $75.90. The company has a market capitalization of $27.20 billion, a PE ratio of 12.23, a P/E/G ratio of 1.27 and a beta of -0.01. The company has a fifty day moving average of $50.85 and a two-hundred day moving average of $55.17.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.02. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same quarter in the prior year, the firm posted $1.01 earnings per share. General Mills’s revenue for the quarter was down 3.3% on a year-over-year basis. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. As a group, analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a $0.61 dividend. This is a boost from General Mills’s previous quarterly dividend of $0.60. This represents a $2.44 annualized dividend and a yield of 4.9%. The ex-dividend date was Thursday, July 10th. General Mills’s payout ratio is currently 59.51%.

Wall Street Analysts Forecast Growth

GIS has been the subject of a number of analyst reports. Royal Bank Of Canada upgraded shares of General Mills from a “sector perform” rating to an “outperform” rating and lowered their target price for the stock from $67.00 to $63.00 in a research note on Thursday, June 26th. Barclays lowered their target price on shares of General Mills from $60.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, June 26th. The Goldman Sachs Group downgraded shares of General Mills from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $68.00 to $58.00 in a research note on Monday, June 9th. Morgan Stanley reiterated an “underweight” rating and set a $51.00 target price (down previously from $53.00) on shares of General Mills in a research note on Tuesday, June 24th. Finally, UBS Group lowered their target price on shares of General Mills from $52.00 to $49.00 and set a “sell” rating for the company in a research note on Thursday, June 26th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $59.13.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.