On July 10, 2023, Sterling Investment Advisors announced that its position in General Mills (NYSE:GIS) will decrease by 6.0% during the first quarter of this year. The revelations came as part of the company’s recent 13F filing with the Securities and Exchange Commission. As a result of this reduction, Sterling Investment Advisors now owns 25,875 shares of General Mills stock and sold 1,650 shares during that period. The market value of Sterling Investment Advisors’ General Mills stock reached a staggering $2,211,000 at the end of the most recent quarter.
General Mills (NYSE:GIS) also released much-anticipated quarterly earnings data on June 28. The company beat estimates for earnings per share (EPS) of $1.12 for the quarter, beating consensus expectations by $0.05. Additionally, General Mills made $5.03 billion in revenue during the period, against popular expectations of $5.18 billion. Quarterly revenue increased 2.8% compared to the same period last year, although revenue forecasts were slightly below expectations.
Further analysis revealed that General Mills had an excellent return on equity of 24.47% and a net profit margin of 12.91%. These numbers demonstrate the company’s strong financial performance and highlight the company’s ability to create value for its shareholders.
In light of these developments, industry experts have provided various analyst reports that consider General Mills’ current position and future prospects. Deutsche Bank Aktiengesellschaft lowered its price target on General Mills from $86.00 to $82.00 in its research report dated June 29, perhaps as a sign of reservations about the stock’s potential growth trajectory. Seem.
Similarly, JPMorgan Chase & Co., another reputable financial institution known for providing key insights into market trends, reported lowering its price target on General Mills from $81.00 to $75.00. was announced on June 29. Such rating downgrades have raised concerns among investors and may indicate that the stock has limited upside.
However, it’s important to note that not all analyst reports are cautious about their outlook for General Mills. Barclays raised its price target to $83.00 from $81.00 in a research report released on March 27, a more optimistic forecast reflecting potential growth opportunities.
In a research report released on March 24, Royal Canada Bank revised its ‘sector performance’ rating and set a price target of $76.00 on General Mills shares. approached. This balanced perspective suggests that even if General Mills isn’t ready for explosive growth, it still has value for investors.
One notable amendment was StockNews.com downgrading General Mills from “buy” to “hold” in an unspecified research report last month. The change indicates some concerns about the company’s future performance.
To provide an overall assessment, it is important to consider the consensus analysis of these various reports using Bloomberg data. According to the data, General Mills’ consensus rating is currently “hold” with an average target price of $82.24. It’s worth noting that two research analysts rated the stock sell, nine hold, and five buy, indicating mixed sentiment among experts. showing.
Heading into the second half of 2023, investors will no doubt focus on General Mills and its performance in the market. Due to mixed analyst opinions and volatility in ratings, caution may be required when considering new positions or changes within an existing portfolio relating to the Company’s stock. Aware of the opportunities and challenges ahead, stakeholders should be cautious in making investment decisions to ensure optimal results.
Updated: November 7, 2023
the current $74.90
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Analysis of General Mills Institutional Investments and Hedge Fund Activity Reveals Advantages of External Ownership
The prominent multinational food company General Mills has seen an influx of investment from institutional investors and hedge funds. For example, the Czech National Bank increased its holding in General Mills by 0.4% in the fourth quarter. This brings the bank to a total of 69,474 shares in the company, worth $5.825 million. The increase in ownership is the result of the purchase of an additional 253 shares during the last quarter.
Another financial institution to see a rise in General Mills stock is Whittier Trust Company, whose position rose 1.7% in the fourth quarter. Currently holding 15,881 shares worth $1,332,000, Whittier Trust Co. acquired an additional 265 shares during the same period.
Notably, Farmers & Merchant Trust of Chambersburg, Pennsylvania, also observed growth in its position. His shareholdings increased by 5.9% in the first quarter, and he purchased an additional 1,045 shares during this period, and now holds 18,826 shares worth $1,609,000.
Mirae Asset Global Investments Co. Ltd also acquired an additional 13,823 shares during the fourth quarter, signaling growing interest in General Mills shares. This accumulation brings their total stock to 198,283 of his shares, worth $16,626,000.
Finally, Allworth Financial LP posted a modest growth of 0.9% and purchased an additional 178 shares in the first quarter, bringing its total holdings to 19,334 shares, valued at $1,652,000.
These findings reveal that institutional investors and hedge funds own about three-quarters (76.73%) of General Mills stock.
As of July 10: General Mills shares opened Monday at $75.30, giving the company a market cap of about $44.06 billion. The company has a price-to-earnings ratio (PE) of 17.44 times, suggesting the stock is relatively affordable. Additionally, the price-to-earnings ratio (PEG) growth rate is 2.23, suggesting that the growth potential is within a reasonable range. A stock price beta of 0.24 means that the stock has relatively low volatility compared to the market as a whole.
General Mills’ recent results provide a broader picture of the company’s financial condition. The 52-week high was $90.89 and the low for the period was $72.16.
The company’s short-term performance is represented by a 50-day moving average price of $83.78, highlighting its stability over the past two months. On the other hand, the long-term trend indicated by the 200-day moving average price is $82.55.
General Mills maintains a solid liquidity position with a quick ratio of 0.40 and a current ratio of 0.69, both of which indicate its ability to meet short-term debt efficiently. A debt-to-equity ratio of 0.93 indicates that the company’s finances are well managed, as lower values indicate less reliance on borrowings to finance its operations.
Several analyst reports offer insight into recent General Mills stock performance and investor outlook.
On June 29, Deutsche Bank Aktiengesellschaft released a research report that lowered its price target for General Mills from $86 to $82. Similarly, JPMorgan Chase’s research report lowered its price target from $81 to $75 on the same day.
But Barclays took a different view, raising its price target from $81 to $83 on March 27 through its own research report.
In a separate research report released March 24, Royal Bank of Canada reaffirmed General Mills’ ‘sector perform’ rating and set a price target of $76.
Finally, StockNews.com downgraded General Mills from a “buy” rating to a “hold” rating in its June 30 research report.
These ratings resulted in an overall consensus rating for General Mills of “Hold,” according to data gleaned from Bloomberg. The target consensus price determined based on available information is $82.24.
General Mills recently announced an increase to its quarterly dividend payable on August 1, 2023. Shareholders who own shares as of July 10 will receive a dividend of $0.59 per share, up from the previous quarterly dividend of $0.54. This increase equates to an annual dividend of $2.36 for a dividend yield of 3.13%.
Additionally, recent insider trading involving the company’s stock has been reported to the Securities and Exchange Commission (SEC). Insider Jodi J. Benson sold 3,009 shares of General Mills stock on May 12 at an average price of $90.59 per share for a total transaction value of $272,585.31.
After this sale, Jodi J. Benson now owns 35,491 shares worth $3,215,129.69.