Lazard Asset Management LLC Sells 63,696 Shares of General Mills, Inc. $GIS

Lazard Asset Management LLC decreased its stake in General Mills, Inc. (NYSE:GIS) by 56.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 48,185 shares of the company’s stock after selling 63,696 shares during the period. Lazard Asset Management LLC’s holdings in General Mills were worth $1,793,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Family Manage LLC boosted its holdings in General Mills by 25.9% in the first quarter. Family Manage LLC now owns 7,592 shares of the company’s stock valued at $283,000 after acquiring an additional 1,560 shares during the last quarter. Delta Global Management LP bought a new position in General Mills during the 1st quarter worth approximately $1,849,000. Everest Financial Group LLC acquired a new position in shares of General Mills in the 1st quarter worth approximately $730,000. OMERS ADMINISTRATION Corp lifted its position in shares of General Mills by 28.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 26,102 shares of the company’s stock worth $972,000 after purchasing an additional 5,781 shares during the period. Finally, Lombard Odier Asset Management Switzerland SA raised its stake in General Mills by 20.4% during the first quarter. Lombard Odier Asset Management Switzerland SA now owns 102,061 shares of the company’s stock worth $3,799,000 after buying an additional 17,300 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the sale, the insider owned 86,002 shares in the company, valued at $2,947,288.54. This represents a 10.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ricardo Fernandez sold 7,995 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the transaction, the insider directly owned 62,283 shares in the company, valued at $2,148,763.50. The trade was a 11.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by insiders.

General Mills Stock Performance

Shares of General Mills stock opened at $36.02 on Tuesday. General Mills, Inc. has a 52 week low of $31.75 and a 52 week high of $51.33. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. The business has a 50 day moving average price of $35.35 and a 200-day moving average price of $38.38. The company has a market cap of $19.23 billion, a PE ratio of -200.13 and a beta of -0.03.

General Mills (NYSE:GIS) last announced its 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. 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 quarter in the previous year, the firm earned $0.53 earnings per share. General Mills’s quarterly revenue was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities analysts anticipate that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend was Friday, July 10th. General Mills’s payout ratio is currently -1,355.56%.

Analyst Ratings Changes

A number of analysts have commented on GIS shares. TD Cowen cut their price target on shares of General Mills from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday, July 2nd. JPMorgan Chase & Co. lifted their price objective on General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, July 2nd. BTIG Research began coverage on General Mills in a research note on Monday, April 13th. They issued a “neutral” rating on the stock. Barclays decreased their target price on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday, May 11th. Finally, Piper Sandler lowered their target price on General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat, General Mills currently has a consensus rating of “Reduce” and an average 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.