Delta Global Management LP Takes $1.85 Million Position in General Mills, Inc. $GIS

Delta Global Management LP purchased a new position in General Mills, Inc. (NYSE:GIS) in the first quarter, Holdings Channel.com reports. The firm purchased 49,686 shares of the company’s stock, valued at approximately $1,849,000.

Other hedge funds have also recently made changes to their positions in the company. LBP AM SA bought a new stake in shares of General Mills in the fourth quarter worth $2,639,000. Oak Thistle LLC bought a new position in General Mills in the fourth quarter valued at about $1,320,000. Robeco Institutional Asset Management B.V. lifted its holdings in General Mills by 1,824.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 895,225 shares of the company’s stock valued at $41,628,000 after acquiring an additional 848,712 shares during the period. HF Advisory Group LLC boosted its position in General Mills by 550.2% in the fourth quarter. HF Advisory Group LLC now owns 79,156 shares of the company’s stock worth $3,681,000 after purchasing an additional 66,981 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in General Mills by 13.1% in 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. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Mills

In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of General Mills stock in a transaction that occurred on 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 owned 62,283 shares of the company’s stock, valued at $2,148,763.50. The trade was a 11.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the transaction, the insider owned 86,002 shares of the company’s stock, valued at approximately $2,947,288.54. The trade was a 10.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by insiders.

General Mills Stock Performance

Shares of GIS opened at $36.16 on Monday. 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 simple moving average of $34.97 and a two-hundred day simple moving average of $38.68. The stock has a market cap of $19.30 billion, a price-to-earnings ratio of -200.86 and a beta of -0.03. General Mills, Inc. has a 52 week low of $31.75 and a 52 week high of $51.33.

General Mills (NYSE:GIS) last posted its quarterly earnings data 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 firm 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 quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, analysts expect that General Mills, Inc. will post 3.07 EPS for the current year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a yield of 6.7%. General Mills’s dividend payout ratio (DPR) is presently -1,355.56%.

Wall Street Analyst Weigh In

Several research firms have recently commented on GIS. Wells Fargo & Company upped their price target on shares of General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. raised their price objective on shares of General Mills from $31.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, July 2nd. Sanford C. Bernstein lowered shares of General Mills from a “market perform” rating to an “underperform” rating and set a $31.00 target price for the company. in a research report on Wednesday, June 3rd. BNP Paribas Exane upped their target price on shares of General Mills from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Finally, BTIG Research initiated coverage on shares of General Mills in a report on Monday, April 13th. They set a “neutral” rating for the company. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $39.16.

General Mills 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.