Flputnam Investment Management Co. Acquires New Position in General Mills, Inc. $GIS

Flputnam Investment Management Co. acquired a new stake in General Mills, Inc. (NYSE:GIS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 33,903 shares of the company’s stock, valued at approximately $1,180,000.

A number of other hedge funds have also added to or reduced their stakes in GIS. Marshall Wace LLP bought a new position in shares of General Mills during the 2nd quarter worth $9,188,000. Bank of Nova Scotia raised its holdings in shares of General Mills by 4.1% in the second quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock valued at $3,374,000 after acquiring an additional 2,552 shares in the last quarter. WINTON GROUP Ltd raised its holdings in shares of General Mills by 112.6% in the second quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock valued at $465,000 after acquiring an additional 4,752 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in General Mills by 4.9% in the second quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock worth $4,250,000 after acquiring an additional 3,814 shares during the period. Finally, Nebula Research & Development LLC lifted its stake in General Mills by 334.2% in the second quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock worth $1,012,000 after acquiring an additional 15,041 shares during the period. 75.71% of the stock is currently owned by institutional investors.

General Mills Price Performance

Shares of GIS stock opened at $37.94 on Tuesday. The stock’s 50-day moving average is $36.20 and its 200 day moving average is $37.87. General Mills, Inc. has a 1-year low of $31.75 and a 1-year high of $51.33. 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 $20.25 billion, a P/E ratio of -210.77 and a beta of -0.03.

General Mills (NYSE:GIS) last released 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. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The business 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. The company’s 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. Research analysts predict that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company 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 annualized dividend and a yield of 6.4%. The ex-dividend date was Friday, July 10th. General Mills’s dividend payout ratio (DPR) is -1,355.56%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays cut their target price on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, May 11th. JPMorgan Chase & Co. upped their price target on shares of General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, July 2nd. BNP Paribas Exane increased their price objective on shares of General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Wells Fargo & Company lifted their price objective on shares of General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, July 2nd. Finally, Stifel Nicolaus reduced 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. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $39.16.

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.