Steigerwald Gordon & Koch Inc. Sells 79,977 Shares of General Mills, Inc. $GIS

Steigerwald Gordon & Koch Inc. lessened its stake in General Mills, Inc. (NYSE:GIS) by 66.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 40,983 shares of the company’s stock after selling 79,977 shares during the quarter. Steigerwald Gordon & Koch Inc.’s holdings in General Mills were worth $1,426,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. State Street Corp grew its stake in shares of General Mills by 0.4% during the third quarter. State Street Corp now owns 33,717,972 shares of the company’s stock valued at $1,700,060,000 after purchasing an additional 145,701 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in General Mills by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock worth $915,953,000 after purchasing an additional 488,617 shares during the last quarter. Geode Capital Management LLC raised its position in General Mills by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock worth $704,170,000 after purchasing an additional 172,200 shares during the last quarter. Morgan Stanley lifted its holdings in General Mills by 2.1% during the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock worth $457,443,000 after buying an additional 200,043 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in General Mills by 14.6% during the 4th quarter. Invesco Ltd. now owns 8,780,455 shares of the company’s stock worth $408,291,000 after buying an additional 1,115,465 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GIS has been the subject of several research reports. Stifel Nicolaus lowered their target price on General Mills from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Wells Fargo & Company upped 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. Bank of America upped their price target on General Mills from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. The Goldman Sachs Group reiterated a “neutral” rating and issued a $36.00 price target on shares of General Mills in a report on Tuesday, June 2nd. Finally, Morgan Stanley lowered their price objective on General Mills from $37.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, June 5th. Four research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, General Mills currently has a consensus rating of “Reduce” and an average price target of $39.16.

General Mills Stock Performance

Shares of General Mills stock opened at $38.87 on Friday. The company has a market capitalization of $20.75 billion, a PE ratio of -215.94 and a beta of -0.03. General Mills, Inc. has a 12 month low of $31.75 and a 12 month high of $51.33. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. The stock’s fifty day simple moving average is $35.98 and its 200 day simple moving average is $37.96.

General Mills (NYSE:GIS) last announced 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%. The business’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, research analysts predict that General Mills, Inc. will post 3.07 EPS for the current year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were issued a $0.61 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.3%. 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.