Belpointe Asset Management LLC Buys 1,429 Shares of General Mills, Inc. $GIS

by · The Cerbat Gem

Belpointe Asset Management LLC grew its stake in General Mills, Inc. (NYSE:GIS – Free Report) by 8.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,080 shares of the company’s stock after acquiring an additional 1,429 shares during the quarter. Belpointe Asset Management LLC’s holdings in General Mills were worth $1,081,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Perpetual Ltd lifted its holdings in shares of General Mills by 3.5% during the first quarter. Perpetual Ltd now owns 5,411 shares of the company’s stock valued at $324,000 after purchasing an additional 184 shares in the last quarter. Conning Inc. lifted its holdings in shares of General Mills by 4.6% during the first quarter. Conning Inc. now owns 4,212 shares of the company’s stock valued at $252,000 after purchasing an additional 185 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of General Mills by 0.4% during the first quarter. Benjamin Edwards Inc. now owns 52,298 shares of the company’s stock valued at $3,127,000 after purchasing an additional 185 shares in the last quarter. Eastern Bank lifted its holdings in shares of General Mills by 0.8% during the first quarter. Eastern Bank now owns 24,817 shares of the company’s stock valued at $1,484,000 after purchasing an additional 186 shares in the last quarter. Finally, SPC Financial Inc. lifted its holdings in shares of General Mills by 1.5% during the first quarter. SPC Financial Inc. now owns 13,452 shares of the company’s stock valued at $804,000 after purchasing an additional 193 shares in the last quarter. 75.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GIS. Wells Fargo & Company set a $53.00 price target on General Mills and gave the company an “equal weight” rating in a report on Thursday, June 26th. Wall Street Zen downgraded General Mills from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. The Goldman Sachs Group downgraded General Mills from a “buy” rating to a “neutral” rating and lowered their target price for the company from $68.00 to $58.00 in a report on Monday, June 9th. Barclays reduced their price target on General Mills from $60.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, June 26th. Finally, Bank of America reduced their price target on General Mills from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, General Mills currently has a consensus rating of “Hold” and a consensus price target of $59.13.

Check Out Our Latest Research Report on General Mills

General Mills Price Performance

Shares of General Mills stock opened at $50.61 on Friday. The stock has a 50 day moving average of $50.04 and a 200 day moving average of $54.29. General Mills, Inc. has a 12 month low of $48.29 and a 12 month high of $75.66. The firm has a market cap of $27.45 billion, a PE ratio of 12.34, a PEG ratio of 1.26 and a beta of -0.02. The company has a current ratio of 0.67, a quick ratio of 0.43 and a debt-to-equity ratio of 1.38.

General Mills (NYSE:GIS – Get Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. General Mills had a return on equity of 24.88% and a net margin of 11.78%.The company had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.60 billion. During the same period in the prior year, the company earned $1.01 earnings per share. The firm’s revenue was down 3.3% on a year-over-year basis. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. On average, research analysts expect that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Thursday, July 10th. This is a positive change from General Mills’s previous quarterly dividend of $0.60. General Mills’s dividend payout ratio is 59.51%.

General Mills Profile

(Free Report)

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.

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