Allstate Corp Invests $934,000 in General Mills, Inc. $GIS

Allstate Corp bought a new stake in General Mills, Inc. (NYSE:GIS) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,524 shares of the company’s stock, valued at approximately $934,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Davis Capital Management acquired a new position in shares of General Mills during the third quarter valued at $29,000. Armstrong Advisory Group Inc. acquired a new stake in General Mills in the second quarter worth about $32,000. Salomon & Ludwin LLC grew its position in General Mills by 1,094.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 645 shares of the company’s stock valued at $32,000 after buying an additional 591 shares in the last quarter. Financial Consulate Inc. bought a new position in General Mills in the 3rd quarter valued at about $32,000. Finally, Traub Capital Management LLC acquired a new position in General Mills during the 2nd quarter valued at about $46,000. Institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GIS. Piper Sandler reiterated an “overweight” rating and issued a $60.00 price objective on shares of General Mills in a report on Thursday, December 18th. Weiss Ratings lowered General Mills from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, January 13th. Jefferies Financial Group lowered their price target on General Mills from $50.00 to $47.00 and set a “hold” rating on the stock in a research report on Thursday, December 11th. Wells Fargo & Company cut their price objective on General Mills from $51.00 to $49.00 and set an “equal weight” rating for the company in a report on Monday, January 5th. Finally, Sanford C. Bernstein set a $54.00 target price on General Mills and gave the company a “market perform” rating in a research note on Thursday, December 18th. Five analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $53.33.

General Mills Price Performance

NYSE GIS opened at $43.98 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.30. General Mills, Inc. has a 1 year low of $42.78 and a 1 year high of $67.35. The company has a market cap of $23.47 billion, a PE ratio of 9.46 and a beta of -0.06. The stock’s 50-day moving average price is $46.27 and its two-hundred day moving average price is $48.28.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, December 17th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.07. General Mills had a net margin of 13.51% and a return on equity of 21.41%. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the firm posted $1.40 earnings per share. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. On average, analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 9th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Friday, January 9th. General Mills’s payout ratio is 52.47%.

Insider Transactions at General Mills

In other news, insider Paul Joseph Gallagher sold 1,500 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $48.15, for a total value of $72,225.00. Following the completion of the sale, the insider owned 48,568 shares in the company, valued at $2,338,549.20. This represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is currently owned by company insiders.

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.