Redwood Investment Management LLC Takes Position in General Mills, Inc. $GIS

Redwood Investment Management LLC acquired a new position in General Mills, Inc. (NYSE:GIS) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,165 shares of the company’s stock, valued at approximately $639,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Reflection Asset Management acquired a new stake in General Mills during the 4th quarter worth about $25,000. Nalls Sherbakoff Group LLC purchased a new stake in shares of General Mills in the fourth quarter worth about $26,000. Brown Shipley& Co Ltd acquired a new stake in General Mills during the first quarter worth about $26,000. Bruce G. Allen Investments LLC grew its holdings in General Mills by 139.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after acquiring an additional 337 shares during the period. Finally, Main Street Group LTD purchased a new position in General Mills during the first quarter valued at approximately $27,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Ricardo Fernandez sold 7,995 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $2,148,763.50. The trade was a 11.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the company’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 completion of the sale, the insider owned 86,002 shares of the company’s stock, valued at $2,947,288.54. This trade represents a 10.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GIS. Barclays decreased their price target on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. BNP Paribas Exane lifted their target price on shares of General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Wells Fargo & Company increased their price target 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. Jefferies Financial Group lifted their price objective on shares of General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, July 1st. Finally, TD Cowen decreased their price objective 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 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. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $39.16.

General Mills Stock Up 0.8%

GIS stock opened at $36.02 on Tuesday. General Mills, Inc. has a 52 week low of $31.75 and a 52 week high of $51.33. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. The firm has a 50-day simple moving average of $35.35 and a 200-day simple moving average of $38.38. The stock has a market capitalization of $19.23 billion, a P/E ratio of -200.13 and a beta of -0.03.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.15. The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.59 billion. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. General Mills’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities analysts forecast that General Mills, Inc. will post 3.07 earnings per share 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 paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend 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.