Northwestern Mutual Wealth Management Co. Invests $1.76 Million in General Mills, Inc. $GIS

Northwestern Mutual Wealth Management Co. purchased a new position in General Mills, Inc. (NYSE:GIS) in the second quarter, HoldingsChannel reports. The fund purchased 50,715 shares of the company’s stock, valued at approximately $1,765,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in General Mills by 13.1% during the fourth quarter. BNP Paribas Financial Markets now owns 1,246,997 shares of the company’s stock worth $57,985,000 after purchasing an additional 144,631 shares during the last quarter. KBC Group NV grew its position in shares of General Mills by 40.5% during the 1st quarter. KBC Group NV now owns 771,730 shares of the company’s stock valued at $28,724,000 after buying an additional 222,602 shares during the last quarter. Fifth Third Bancorp grew its position in shares of General Mills by 140.2% during the 4th quarter. Fifth Third Bancorp now owns 87,060 shares of the company’s stock valued at $4,048,000 after buying an additional 50,822 shares during the last quarter. Delta Global Management LP acquired a new stake in General Mills during the first quarter worth about $1,849,000. Finally, Wealthfront Advisers LLC bought a new position in General Mills in the second quarter worth about $21,342,000. 75.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GIS has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their target price on General Mills from $32.00 to $33.00 and gave the company 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. The Goldman Sachs Group restated a “neutral” rating and set a $36.00 price objective on shares of General Mills in a research report on Tuesday, June 2nd. Wells Fargo & Company upped their price objective on General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, July 2nd. Finally, Morgan Stanley dropped their target price on General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a research report on Friday, June 5th. Four 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $39.16.

General Mills Price Performance

NYSE GIS opened at $40.92 on Tuesday. The company has a 50-day moving average price of $36.77 and a two-hundred day moving average price of $37.67. General Mills, Inc. has a 52 week low of $31.75 and a 52 week high of $51.33. The stock has a market cap of $21.88 billion, a price-to-earnings ratio of -227.32 and a beta of -0.03. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68.

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. The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Analysts forecast that General Mills, Inc. will post 3.07 EPS for the current year.

General Mills Announces Dividend

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 dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 annualized dividend and a yield of 6.0%. General Mills’s payout ratio is presently -1,355.56%.

About General Mills

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.