General Mills, Inc. $GIS Shares Bought by Merit Financial Group LLC

Merit Financial Group LLC boosted its position in shares of General Mills, Inc. (NYSE:GIS) by 58.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,713 shares of the company’s stock after buying an additional 36,887 shares during the period. Merit Financial Group LLC’s holdings in General Mills were worth $3,470,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. LBP AM SA bought a new stake in General Mills during the fourth quarter valued at $2,639,000. BNP Paribas Financial Markets raised its position in shares of General Mills by 13.1% in the 4th quarter. BNP Paribas Financial Markets now owns 1,246,997 shares of the company’s stock worth $57,985,000 after acquiring an additional 144,631 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of General Mills by 10.2% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 711,120 shares of the company’s stock worth $33,186,000 after acquiring an additional 65,817 shares in the last quarter. KBC Group NV lifted its stake in shares of General Mills by 40.5% in the 1st quarter. KBC Group NV now owns 771,730 shares of the company’s stock valued at $28,724,000 after purchasing an additional 222,602 shares during the period. Finally, Fifth Third Bancorp lifted its stake in shares of General Mills by 140.2% in the 4th quarter. Fifth Third Bancorp now owns 87,060 shares of the company’s stock valued at $4,048,000 after purchasing an additional 50,822 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on GIS. Deutsche Bank Aktiengesellschaft raised 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. TD Cowen cut their price target on General Mills from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday, July 2nd. Stifel Nicolaus lowered their price objective on shares of General Mills from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. UBS Group set a $33.00 target price on shares of General Mills in a research report on Monday, July 6th. Finally, Piper Sandler cut their target price on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and seven have given a Sell rating to the stock. According to data from MarketBeat.com, General Mills currently has a consensus rating of “Reduce” and an average target price of $39.16.

General Mills Trading Up 0.7%

Shares of General Mills stock opened at $38.21 on Thursday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68. General Mills, Inc. has a 52 week low of $31.75 and a 52 week high of $51.33. The stock has a 50 day moving average price of $35.85 and a two-hundred day moving average price of $38.00. The stock has a market capitalization of $20.39 billion, a PE ratio of -212.27 and a beta of -0.03.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business earned $0.53 EPS. General Mills’s quarterly 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. As a group, equities analysts anticipate that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Announces Dividend

The firm also recently disclosed 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 dividend yield of 6.4%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s dividend payout ratio (DPR) is -1,355.56%.

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.