Palouse Capital Management Inc. Buys 21,946 Shares of General Mills, Inc. $GIS

Palouse Capital Management Inc. increased its stake in General Mills, Inc. (NYSE:GIS) by 26.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,573 shares of the company’s stock after buying an additional 21,946 shares during the period. General Mills accounts for about 2.2% of Palouse Capital Management Inc.’s portfolio, making the stock its 20th largest position. Palouse Capital Management Inc.’s holdings in General Mills were worth $3,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

General Mills Stock Performance

Shares of NYSE:GIS opened at $36.02 on Friday. The company has a market capitalization of $19.23 billion, a price-to-earnings ratio of -200.12 and a beta of -0.03. 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 moving average of $35.50 and a 200 day moving average of $38.19.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (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 business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.59 billion. During the same quarter last year, the firm earned $0.53 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, sell-side analysts predict that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a yield of 6.8%. General Mills’s dividend payout ratio (DPR) is presently -1,355.56%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Bank of America lifted their target price on General Mills from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. BNP Paribas Exane increased 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. Piper Sandler cut their price target on General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Wells Fargo & Company raised their price target on General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, July 2nd. Finally, TD Cowen decreased 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 given a Hold rating and seven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Mills has a consensus rating of “Reduce” and a consensus target price of $39.16.

Insider Transactions at General Mills

In other General Mills news, insider Jacqueline Williams-Roll sold 10,000 shares of General Mills stock in a transaction dated Tuesday, May 12th. The stock was 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 in the company, valued at $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ricardo Fernandez sold 7,995 shares of the business’s 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 completion of the transaction, the insider owned 62,283 shares of the company’s stock, valued at $2,148,763.50. This represents a 11.38% 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 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.