CIBC Bancorp USA Inc. Takes Position in General Mills, Inc. $GIS

CIBC Bancorp USA Inc. purchased a new position in shares of General Mills, Inc. (NYSE:GIS) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 199,180 shares of the company’s stock, valued at approximately $10,043,000.

Several other institutional investors have also added to or reduced their stakes in GIS. Centaurus Financial Inc. bought a new stake in shares of General Mills in the third quarter valued at about $268,000. Center For Asset Management LLC increased its position in General Mills by 3.4% during the third quarter. Center For Asset Management LLC now owns 7,568 shares of the company’s stock worth $382,000 after acquiring an additional 252 shares during the period. Captrust Financial Advisors increased its position in General Mills by 0.4% during the third quarter. Captrust Financial Advisors now owns 328,484 shares of the company’s stock worth $16,562,000 after acquiring an additional 1,162 shares during the period. Coldstream Capital Management Inc. raised its stake in General Mills by 39.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 18,085 shares of the company’s stock worth $912,000 after purchasing an additional 5,075 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in General Mills in the 3rd quarter worth about $16,377,000. 75.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on GIS shares. Stifel Nicolaus decreased their target price on shares of General Mills from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley dropped their price target on shares of General Mills from $47.00 to $44.00 and set an “underweight” rating for the company in a research report on Wednesday, February 18th. TD Cowen cut their price target on General Mills from $45.00 to $37.00 and set a “hold” rating for the company in a research note on Thursday. Wells Fargo & Company downgraded General Mills from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $45.00 to $35.00 in a research report on Thursday, March 12th. Finally, Sanford C. Bernstein dropped their price objective on General Mills from $53.00 to $48.00 and set a “market perform” rating for the company in a report on Wednesday, February 18th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, General Mills currently has a consensus rating of “Reduce” and an average target price of $44.61.

General Mills Stock Performance

Shares of GIS stock opened at $37.04 on Friday. The stock has a market capitalization of $19.76 billion, a PE ratio of 9.06 and a beta of -0.05. The business’s 50 day simple moving average is $44.38 and its 200 day simple moving average is $46.65. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.39. General Mills, Inc. has a one year low of $37.01 and a one year high of $62.61.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.09). General Mills had a return on equity of 19.19% and a net margin of 12.05%.The firm had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same quarter last year, the company earned $1.12 earnings per share. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Friday, April 10th. General Mills’s payout ratio is presently 59.66%.

Key Stories Impacting General Mills

Here are the key news stories impacting General Mills this week:

• Positive Sentiment: Piper Sandler reaffirmed its buy/overweight stance on GIS (despite trimming its target earlier), signaling continued broker support for the turnaround thesis. Piper Sandler Reaffirms Their Buy Rating on General Mills (GIS)
• Positive Sentiment: RBC Capital reaffirmed its buy/outperform view on GIS, providing another vote of confidence from a large broker. RBC Capital Keeps Their Buy Rating on General Mills (GIS)
• Positive Sentiment: Diamond Hill Capital’s Mid-Cap strategy disclosed a new position in General Mills in Q4, indicating some institutional accumulation at these levels. Diamond Hill Mid Cap Strategy Initiated a Position in General Mills (GIS) in Q4
• Neutral Sentiment: Jefferies reaffirmed a hold rating, reflecting a wait-and-see view: management’s recovery plan is being acknowledged but not yet rewarded by all analysts. Jefferies Reaffirms Their Hold Rating on General Mills (GIS)
• Neutral Sentiment: Management highlighted product innovation (more protein/fiber SKUs like Cheerios Protein) and portfolio reshaping (Brazil unit sale) as recovery levers; these are strategic positives but will take time to materially reverse top-line/margin trends. General Mills Bets on Protein and Fiber to Win Back Consumers
• Negative Sentiment: Q3 results missed on EPS and showed an 8.4% YoY revenue decline; analysts flagged a tough consumer environment and lowered near-term forecasts. General Mills’ FQ3 miss highlights tough consumer environment — analysts
• Negative Sentiment: Several brokers slashed price targets and/or lowered ratings after the print: UBS cut its target to $35 and kept a Sell; JPMorgan, UBS, Goldman, TD Cowen and others trimmed targets or moved to underweight/neutral — putting fresh downside risk and pressuring sentiment. General Mills price target lowered to $35 from $40 at UBS
• Negative Sentiment: Investor commentary (including Jim Cramer) and post-earnings notes highlight that management’s messaging and near-term guidance weren’t convincing, amplifying the sell-side cuts and heavy trading. Jim Cramer on General Mills: “Management Tried to Turn Minuses Into Pluses, But the Crowd Wasn’t Buying It”

General Mills Company 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.