Cibc World Market Inc. Acquires Shares of 33,255 General Mills, Inc. $GIS

Cibc World Market Inc. acquired a new stake in General Mills, Inc. (NYSE:GIS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 33,255 shares of the company’s stock, valued at approximately $1,157,000.

A number of other institutional investors have also recently bought and sold shares of GIS. BlackRock Inc. acquired a new position in shares of General Mills in the 2nd quarter valued at $2,181,608,000. Norges Bank acquired a new stake in shares of General Mills during the fourth quarter worth $361,552,000. Wellington Management Group LLP grew its stake in shares of General Mills by 2,970.1% during the fourth quarter. Wellington Management Group LLP now owns 7,466,693 shares of the company’s stock worth $347,201,000 after purchasing an additional 7,223,487 shares during the period. AQR Capital Management LLC grew its stake in shares of General Mills by 366.1% during the fourth quarter. AQR Capital Management LLC now owns 5,117,287 shares of the company’s stock worth $237,954,000 after purchasing an additional 4,019,319 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in General Mills in the second quarter valued at about $129,298,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Price Performance

GIS stock opened at $40.42 on Friday. The stock has a 50-day moving average price of $37.15 and a two-hundred day moving average price of $37.50. The stock has a market cap of $21.61 billion, a PE ratio of -224.55 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, Inc. has a 1 year low of $31.75 and a 1 year high of $51.33.

General Mills (NYSE:GIS) last released its quarterly 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. The firm had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities analysts forecast that General Mills, Inc. will post 3.07 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s dividend payout ratio (DPR) is currently -1,355.56%.

Analysts Set New Price Targets

Several equities analysts have weighed in on GIS shares. Deutsche Bank Aktiengesellschaft increased 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. JPMorgan Chase & Co. lifted their price objective on shares of General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, July 2nd. Wells Fargo & Company upped their target price on shares of General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, July 2nd. Zacks Research upgraded General Mills from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Finally, TD Cowen dropped their price target on General Mills from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, twelve have given 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 a consensus rating of “Reduce” and a consensus target price of $39.16.

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.