Fifth Third Bancorp Grows Position in General Mills, Inc. $GIS

Fifth Third Bancorp raised its stake in General Mills, Inc. (NYSE:GIS) by 152.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 219,587 shares of the company’s stock after acquiring an additional 132,527 shares during the quarter. Fifth Third Bancorp’s holdings in General Mills were worth $8,173,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Schwarz Dygos Wheeler Investment Advisors LLC raised its stake in General Mills by 1.9% in the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 12,153 shares of the company’s stock valued at $565,000 after purchasing an additional 225 shares during the last quarter. Allegheny Financial Group lifted its holdings in General Mills by 4.8% in the 4th quarter. Allegheny Financial Group now owns 4,904 shares of the company’s stock valued at $228,000 after purchasing an additional 226 shares in the last quarter. Stonebridge Capital Advisors LLC boosted its stake in shares of General Mills by 0.7% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 32,843 shares of the company’s stock worth $1,702,000 after purchasing an additional 226 shares during the last quarter. Robertson Stephens Wealth Management LLC boosted its stake in shares of General Mills by 3.7% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 6,879 shares of the company’s stock worth $320,000 after purchasing an additional 247 shares during the last quarter. Finally, Montag A & Associates Inc. grew its holdings in shares of General Mills by 5.7% during the fourth quarter. Montag A & Associates Inc. now owns 4,648 shares of the company’s stock worth $216,000 after buying an additional 249 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GIS has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price objective on shares of General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday, July 1st. BNP Paribas Exane raised their target price on shares of General Mills from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. Sanford C. Bernstein cut 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 note on Wednesday, June 3rd. Barclays cut their price target on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. Finally, UBS Group set a $33.00 price target on General Mills in a research note on Monday, July 6th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $39.16.

Insider Buying and Selling at General Mills

In related news, insider Ricardo Fernandez sold 7,995 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the transaction, the insider directly owned 62,283 shares of the company’s stock, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the business’s 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 sale, the insider directly owned 86,002 shares of the company’s stock, valued at approximately $2,947,288.54. This trade represents a 10.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.30% of the company’s stock.

General Mills Price Performance

GIS opened at $37.19 on Thursday. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $51.68. The company’s 50 day simple moving average is $34.53 and its 200 day simple moving average is $39.13. The stock has a market capitalization of $19.85 billion, a PE ratio of -206.62 and a beta of -0.03. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.40 and a current ratio of 0.68.

General Mills (NYSE:GIS) last issued 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. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.59 billion. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. General Mills’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 earnings per share. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, sell-side analysts expect that General Mills, Inc. will post 3.07 EPS for the current year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Friday, July 10th. General Mills’s dividend payout ratio is presently -1,355.56%.

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.