On September 24, 2023, it was reported that &Clarus Group Inc. has acquired a new position in General Mills, Inc. (NYSE:GIS) during the second quarter of the year. This information was disclosed in their most recent 13F filing with the Securities and Exchange Commission. The firm obtained 2,639 shares of General Mills’ stock, which were valued at approximately $202,000.
Additionally, General Mills recently made an announcement regarding its quarterly dividend. Shareholders who were recorded on Monday, July 10th received a dividend of $0.59 per share on Tuesday, August 1st. The ex-dividend date for this payment was Friday, July 7th.
This development signifies an increase compared to General Mills’ prior quarterly dividend of $0.54. Currently, the company’s dividend payout ratio stands at 57.56%. With an annualized dividend of $2.36 per share and a yield of 3.64%, this presents an attractive investment opportunity for shareholders.
General Mills has been a prominent player in the food industry for decades and is recognized for its portfolio of well-known consumer brands such as Cheerios, Pillsbury, and Yoplait. The company’s ability to consistently pay dividends demonstrates its commitment to delivering value to shareholders even during uncertain economic times.
Investors should closely monitor General Mills’ performance and financial health as they hold or consider acquiring shares in the company. Such developments are important indicators of future prospects and provide valuable insight into potential returns on investments.
As always, it is crucial for investors to conduct thorough research and consult with financial advisors before making any investment decisions to ensure alignment with their individual financial goals and risk tolerance levels.
In summary,&Clarus Group Inc.’s recent acquisition of shares in General Mills highlights the potential appeal of investing in this well-established food industry leader. Simultaneously, General Mills’ decision to increase its quarterly dividend underscores the company’s commitment to providing value to its shareholders.
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Institutional Investors and Hedge Funds Drive Activity in General Mills Amidst Consumer Goods Sector Challenges
Institutional investors and hedge funds have been actively buying and selling shares of General Mills, a leading consumer packaged goods company. Notably, Disciplined Investments LLC saw a significant increase of 245.9% in its holdings of General Mills during the first quarter. The company now owns 294 shares valued at $25,000 after acquiring an additional 209 shares.
FWL Investment Management LLC also entered the scene by purchasing a new position in General Mills during the fourth quarter, with an estimated value of $25,000. Almanack Investment Partners LLC followed suit and bought shares valued at around $28,000 during the third quarter. Additionally, AXS Investments LLC acquired shares worth approximately $30,000 in the fourth quarter. Pacific Center for Financial Services joined the group of investors during the first quarter with a purchase of shares worth roughly $39,000.
It is noteworthy that hedge funds and other institutional investors currently own 75.31% of General Mills’ stock.
Equities analysts have weighed in on General Mills’ performance as well. The Goldman Sachs Group lowered their target price for the company from $70.00 to $61.00 and provided it with a “sell” rating. Bank of America also reduced their price target from $82.00 to $72.00 while giving it a “neutral” rating. Meanwhile, Wells Fargo & Company decreased their price target from $80.00 to $70.00 but maintained an “equal weight” rating for General Mills.
TD Cowen initiated coverage on General Mills with a “market perform” rating and set a price target of $70.00 per share, according to their research report dated September 13th.
Royal Bank of Canada also cut down their price target for General Mills from $78.00 to $76.00 while providing it with a “sector perform” rating in their research report.
Analysts’ ratings on General Mills vary: two analysts have assigned a sell rating, eleven have given a hold rating, and five have recommended buying the stock. On average, according to data from Bloomberg.com, General Mills has been rated as “Hold” with an average target price of $75.74.
On Friday, shares of General Mills dropped by $0.66 to reach $64.82 per share. Approximately 6,620,043 shares were exchanged during the trading session, higher than its average volume of 4,204,953 shares. The company currently has a 50-day simple moving average of $70.31 and a 200-day simple moving average of $78.98. With a market capitalization of $37.68 billion and a PE ratio of 15.81, General Mills remains an influential player in the consumer packaged goods industry.
General Mills reported earnings results on September 20th. The company exceeded expectations by reporting earnings per share of $1.09 for the quarter compared to the consensus estimate of $1.08—an increase of $0.01 per share. Additionally, General Mills generated revenue amounting to $4.90 billion during the quarter against an estimated revenue of $4.88 billion.
The net margin for General Mills stands at 12.07% with a return on equity reaching 24.39%. This marks positive growth as the company’s quarterly revenue increased by 4% compared to the same period last year.
Equities analysts anticipate that General Mills will post adjusted EPS (earnings per share) figures amounting to approximately 4.47 for this fiscal year.
As investors and analysts closely track General Mills’ performance in these uncertain times, it is clear that the company’s financials demonstrate resilience despite headwinds in the consumer goods sector due to factors such as changing consumer preferences and global economic conditions.
