199,180 Shares in General Mills, Inc. $GIS Bought by CIBC Bancorp USA Inc.

CIBC Bancorp USA Inc. purchased a new position in General Mills, Inc. (NYSE:GIS) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 199,180 shares of the company’s stock, valued at approximately $10,043,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GIS. Close Asset Management Ltd acquired a new stake in shares of General Mills in the 3rd quarter valued at about $28,000. Davis Capital Management acquired a new position in General Mills during the 3rd quarter worth approximately $29,000. Salomon & Ludwin LLC raised its stake in General Mills by 1,094.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 645 shares of the company’s stock worth $32,000 after buying an additional 591 shares during the period. Financial Consulate Inc. bought a new position in General Mills in the third quarter worth approximately $32,000. Finally, Binnacle Investments Inc boosted its holdings in General Mills by 312.5% in the third 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 owned by institutional investors.

Key General Mills News

Here are the key news stories impacting General Mills this week:

• Positive Sentiment: Piper Sandler reaffirmed its buy/overweight stance on GIS (despite trimming its target earlier), signaling continued broker support for the turnaround thesis. Piper Sandler Reaffirms Their Buy Rating on General Mills (GIS)
• Positive Sentiment: RBC Capital reaffirmed its buy/outperform view on GIS, providing another vote of confidence from a large broker. RBC Capital Keeps Their Buy Rating on General Mills (GIS)
• Positive Sentiment: Diamond Hill Capital’s Mid-Cap strategy disclosed a new position in General Mills in Q4, indicating some institutional accumulation at these levels. Diamond Hill Mid Cap Strategy Initiated a Position in General Mills (GIS) in Q4
• Neutral Sentiment: Jefferies reaffirmed a hold rating, reflecting a wait-and-see view: management’s recovery plan is being acknowledged but not yet rewarded by all analysts. Jefferies Reaffirms Their Hold Rating on General Mills (GIS)
• Neutral Sentiment: Management highlighted product innovation (more protein/fiber SKUs like Cheerios Protein) and portfolio reshaping (Brazil unit sale) as recovery levers; these are strategic positives but will take time to materially reverse top-line/margin trends. General Mills Bets on Protein and Fiber to Win Back Consumers
• Negative Sentiment: Q3 results missed on EPS and showed an 8.4% YoY revenue decline; analysts flagged a tough consumer environment and lowered near-term forecasts. General Mills’ FQ3 miss highlights tough consumer environment — analysts
• Negative Sentiment: Several brokers slashed price targets and/or lowered ratings after the print: UBS cut its target to $35 and kept a Sell; JPMorgan, UBS, Goldman, TD Cowen and others trimmed targets or moved to underweight/neutral — putting fresh downside risk and pressuring sentiment. General Mills price target lowered to $35 from $40 at UBS
• Negative Sentiment: Investor commentary (including Jim Cramer) and post-earnings notes highlight that management’s messaging and near-term guidance weren’t convincing, amplifying the sell-side cuts and heavy trading. Jim Cramer on General Mills: “Management Tried to Turn Minuses Into Pluses, But the Crowd Wasn’t Buying It”

General Mills Price Performance

Shares of NYSE:GIS opened at $37.04 on Friday. The company has a 50 day moving average of $44.38 and a 200 day moving average of $46.65. The company has a current ratio of 0.56, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The stock has a market cap of $19.76 billion, a P/E ratio of 9.06 and a beta of -0.05. General Mills, Inc. has a 12 month low of $37.01 and a 12 month high of $62.61.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, March 18th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.09). General Mills had a net margin of 12.05% and a return on equity of 19.19%. The business had revenue of $4.44 billion for the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the prior year, the business posted $1.12 EPS. General Mills’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, sell-side analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, April 10th. This represents a $2.44 annualized dividend and a dividend yield of 6.6%. General Mills’s dividend payout ratio (DPR) is 59.66%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $51.00 price objective on shares of General Mills in a report on Thursday, December 18th. Wells Fargo & Company downgraded shares of General Mills from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $45.00 to $35.00 in a research report on Thursday, March 12th. Royal Bank Of Canada decreased their price target on shares of General Mills from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday. The Goldman Sachs Group lowered their price objective on shares of General Mills from $47.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Sanford C. Bernstein dropped their price objective on shares of General Mills from $53.00 to $48.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 18th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $44.61.

General Mills Company 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.