Swedbank AB Increases Stock Position in General Mills, Inc. $GIS

Swedbank AB grew its holdings in shares of General Mills, Inc. (NYSE:GIS) by 116.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,640,282 shares of the company’s stock after buying an additional 880,785 shares during the period. Swedbank AB’s holdings in General Mills were worth $61,051,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GIS. Vermillion & White Wealth Management Group LLC purchased a new position in General Mills during the 3rd quarter valued at about $25,000. Reflection Asset Management purchased a new stake in General Mills in the fourth quarter worth about $25,000. Nalls Sherbakoff Group LLC purchased a new stake in General Mills in the fourth quarter worth about $26,000. Bruce G. Allen Investments LLC increased its stake in shares of General Mills by 139.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock valued at $27,000 after purchasing an additional 337 shares in the last quarter. Finally, Zions Bancorporation National Association UT lifted its holdings in shares of General Mills by 248.1% during the fourth quarter. Zions Bancorporation National Association UT now owns 630 shares of the company’s stock valued at $29,000 after purchasing an additional 449 shares during 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 analysts have recently commented on GIS shares. BNP Paribas Exane boosted their price target on General Mills from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. BTIG Research initiated coverage on General Mills in a research note on Monday, April 13th. They set a “neutral” rating for the company. Wells Fargo & Company boosted their target price on General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft increased their target price on General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Finally, TD Cowen reduced their price target on General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, July 2nd. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, General Mills presently has a consensus rating of “Reduce” and a consensus price target of $39.16.

Insider Buying and Selling

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the sale, the insider directly owned 86,002 shares in the company, valued at $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the transaction, the insider directly owned 62,283 shares of the company’s stock, valued at $2,148,763.50. The trade was a 11.38% 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 Up 2.9%

GIS stock opened at $37.16 on Wednesday. General Mills, Inc. has a 1-year low of $31.75 and a 1-year high of $52.51. The business has a fifty day moving average price of $34.33 and a 200-day moving average price of $39.59. 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 stock has a market capitalization of $19.84 billion, a P/E ratio of -206.46 and a beta of -0.03.

General Mills (NYSE:GIS) last released its quarterly earnings data 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 positive return on equity of 21.37% and a negative net margin of 0.48%.The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.59 billion. During the same period last year, the firm posted $0.53 earnings per share. General Mills’s revenue was up 1.2% compared to the same quarter last year. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities analysts forecast that General Mills, Inc. will post 3.08 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend is Friday, July 10th. General Mills’s dividend payout ratio (DPR) is presently -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.