Gateway Investment Advisers LLC raised its position in General Mills, Inc. (NYSE:GIS - Free Report) by 238.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,623 shares of the company's stock after purchasing an additional 28,612 shares during the period. Gateway Investment Advisers LLC's holdings in General Mills were worth $1,414,000 as of its most recent filing with the Securities and Exchange Commission.

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Other hedge funds and other institutional investors have also modified their holdings of the company. Reflection Asset Management purchased a new position in General Mills in the fourth quarter valued at $25,000. Nalls Sherbakoff Group LLC purchased a new stake in General Mills during the 4th quarter worth about $26,000. Bruce G. Allen Investments LLC lifted its holdings in General Mills by 139.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company's stock worth $27,000 after buying an additional 337 shares during the last quarter. Zions Bancorporation National Association UT lifted its holdings in General Mills by 248.1% during the 4th quarter. Zions Bancorporation National Association UT now owns 630 shares of the company's stock worth $29,000 after buying an additional 449 shares during the last quarter. Finally, Binnacle Investments Inc boosted its position in shares of General Mills by 312.5% during the 3rd quarter. Binnacle Investments Inc now owns 660 shares of the company's stock worth $33,000 after acquiring an additional 500 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GIS. UBS Group set a $33.00 target price on General Mills in a research report on Monday, July 6th. Piper Sandler dropped their price target on shares of General Mills from $45.00 to $41.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. Weiss Ratings raised shares of General Mills from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, July 2nd. Sanford C. Bernstein downgraded shares of General Mills from a "market perform" rating to an "underperform" rating and set a $31.00 price objective for the company. in a research report on Wednesday, June 3rd. Finally, Stifel Nicolaus lowered their target price on shares of General Mills from $44.00 to $40.00 and set a "buy" rating for the company in a report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $39.16.

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Read Our Latest Analysis on GIS

General Mills Stock Up 0.7%

Shares of NYSE GIS opened at $38.21 on Thursday. The business has a 50-day moving average price of $35.85 and a 200 day moving average price of $38.00. The stock has a market cap of $20.39 billion, a PE ratio of -212.27 and a beta of -0.03. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. General Mills, Inc. has a 52-week low of $31.75 and a 52-week high of $51.33.

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General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, topping 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 analyst estimates of $4.59 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The firm'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. Equities research analysts forecast that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend was Friday, July 10th. General Mills's payout ratio is presently -1,355.56%.

About General Mills

(Free Report)

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.

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