Bank of Nova Scotia Has $6.90 Million Stock Position in General Mills, Inc. $GIS

Bank of Nova Scotia raised its stake in General Mills, Inc. (NYSE:GIS) by 102.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 185,366 shares of the company’s stock after acquiring an additional 93,605 shares during the quarter. Bank of Nova Scotia’s holdings in General Mills were worth $6,900,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Reflection Asset Management acquired a new position in shares of General Mills in the fourth quarter valued at approximately $25,000. Nalls Sherbakoff Group LLC bought a new position in shares of General Mills during the fourth quarter worth approximately $26,000. Brown Shipley& Co Ltd bought a new position in shares of General Mills during the first quarter worth approximately $26,000. Bruce G. Allen Investments LLC lifted its holdings in General Mills by 139.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after purchasing an additional 337 shares during the last quarter. Finally, Main Street Group LTD acquired a new stake in General Mills during the 1st quarter worth approximately $27,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at General Mills

In other news, insider Ricardo Fernandez sold 7,995 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total value of $275,827.50. Following the sale, the insider directly owned 62,283 shares of the company’s stock, valued at approximately $2,148,763.50. This represents a 11.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total transaction of $342,700.00. Following the sale, the insider directly owned 86,002 shares in the company, valued at $2,947,288.54. This trade represents a 10.42% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is currently owned by company insiders.

General Mills Stock Performance

NYSE GIS opened at $36.70 on Tuesday. The firm’s 50 day simple moving average is $35.04 and its 200 day simple moving average is $38.63. The firm has a market capitalization of $19.59 billion, a price-to-earnings ratio of -203.88 and a beta of -0.03. The company has a current ratio of 0.68, a quick ratio of 0.40 and a debt-to-equity ratio of 1.68. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $51.33.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.15. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.General Mills’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, research analysts expect that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Announces Dividend

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

Analyst Ratings Changes

GIS has been the topic of a number of research reports. Morgan Stanley decreased their price objective on General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a report on Friday, June 5th. Piper Sandler dropped their target price on General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Wells Fargo & Company upped their price target on shares of General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, July 2nd. Finally, BNP Paribas Exane raised their price target 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. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $39.16.

General Mills 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.