Kentucky Retirement Systems Raises Position in General Mills, Inc. $GIS

Kentucky Retirement Systems grew its position in shares of General Mills, Inc. (NYSE:GIS) by 52.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 52,366 shares of the company’s stock after acquiring an additional 17,986 shares during the period. Kentucky Retirement Systems’ holdings in General Mills were worth $1,949,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GIS. Reflection Asset Management bought a new position in shares of General Mills during the fourth quarter valued at $25,000. Nalls Sherbakoff Group LLC bought a new position in General Mills in the 4th quarter worth about $26,000. Bruce G. Allen Investments LLC grew its position in General Mills by 139.8% during the 4th 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 during the last quarter. Zions Bancorporation National Association UT grew its position in General Mills by 248.1% during the 4th 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. Finally, Binnacle Investments Inc increased its stake in General Mills by 312.5% during the 3rd quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Trading Down 3.8%

Shares of GIS stock opened at $36.47 on Friday. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $51.33. The firm has a fifty day moving average price of $35.26 and a 200-day moving average price of $38.50. 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 company has a market cap of $19.46 billion, a price-to-earnings ratio of -202.61 and a beta of -0.03.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.15. The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, equities analysts predict that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.44 annualized dividend and a dividend yield of 6.7%. General Mills’s dividend payout ratio (DPR) is -1,355.56%.

Analysts Set New Price Targets

Several brokerages have commented on GIS. Morgan Stanley cut their target price on General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a research note on Friday, June 5th. Bank of America boosted their price target on General Mills from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Jefferies Financial Group upped their price target on General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, July 1st. Stifel Nicolaus dropped their price objective on General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Finally, TD Cowen reduced their price objective 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 equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and seven have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Mills presently has a consensus rating of “Reduce” and an average price target of $39.16.

Insider Activity

In other news, insider Ricardo Fernandez sold 7,995 shares of General Mills stock in a transaction dated Tuesday, May 12th. The stock was 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the transaction, the insider owned 86,002 shares of the company’s stock, valued at approximately $2,947,288.54. This trade represents a 10.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.