BlackRock Fund Advisors recently announced the acquisition of new stake in General Mills, Inc. (NYSE:GIS). The institutional investor has increased its shareholding in the Consumer Defensive company by 2.67% to 35.35 million shares with purchase of 0.92 million shares. This fresh investment now brings its stake to 6.08% valued currently at $2.25 billion. In addition, Capital Research & Management Co raised its holdings by 0.24 million to 33.13 million shares. And Geode Capital Management LLC has lifted its position by 1.26% or 0.15 million shares – to 11.74 million shares.
With over 4.75 million General Mills, Inc. (GIS) shares trading Tuesday and a closing price of $64.38 on the day, the dollar volume was approximately $305.52 million. The shares have shown a negative half year performance of -14.25% and its price on 01/09/24 lost nearly -0.40%. Currently, there are 586.60M common shares owned by the public and among those 566.33M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 22 analysts who have offered their price forecasts for GIS have a consensus price objective of $68.27. The analysts have set the share’s price value over the next 12 months at a high of $82.20 and a low of $58.00. The average price target is 12.74% above its recent price level and a downside to the estimated low will see the stock lose -11.0% over that period. But an upside of 21.68% will see the stock hit the forecast high price target while median target price for the stock is $68.00.
Insiders at the company have transacted a total of 89 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 52 of these insider trades were purchases, accounting for 458,234 shares. Insider sales of the common stock occurred on 37 occasions, with total insider shares sold totaling 234,108 shares.
The top 3 mutual fund holders in General Mills, Inc. are Vanguard Total Stock Market ETF, American Mutual Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market ETF owns 18.23 million shares of the company’s stock, all valued at over $1.16 billion. The company bought an additional 42808.0 shares recently to bring their total holdings to about 3.14% of the shares outstanding. American Mutual Fund sold -0.24 million shares to see its total holdings shrink to 16.9 million shares valued at over $1.08 billion and representing 2.91% of the shares outstanding. Vanguard 500 Index Fund bought 62123.0 shares to bring its total holdings to over 14.13 million shares at a value of $899.71 million. Vanguard 500 Index Fund now owns shares totaling to 2.43% of the shares outstanding.
Shares of General Mills, Inc. (NYSE: GIS) opened at $64.04, down -$0.6 from a prior closing price of $64.64. However, the script later moved the day high at 64.73, down -0.40%. The company’s stock has a 5-day price change of -3.55% and 0.66% over the past three months. GIS shares are trading -1.17% year to date (YTD), with the 12-month market performance down to -25.10% lower. It has a 12-month low price of $60.33 and touched a high of $90.89 over the same period. GIS has an average intraday trading volume of 4.39 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.87%, -1.24%, and -12.64% respectively.
Institutional ownership of General Mills, Inc. (NYSE: GIS) shares accounts for 79.82% of the company’s 586.60M shares outstanding. Mutual fund holders own 43.38%, while other institutional holders and individual stakeholders account for 5.72% and 35.36% respectively.
It has a market capitalization of $36.56B and a beta (3y monthly) value of 0.15. The stock’s trailing 12-month PE ratio is 15.66, while the earnings-per-share (ttm) stands at $4.11. The company has a PEG of 2.17 and a Quick Ratio of 0.36 with the debt-to-equity ratio at 1.35. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.72% over the week and 1.71% over the month.
Analysts forecast that General Mills, Inc. (GIS) will achieve an EPS of $Goldman Sachs Group, Inc. (The) for the current quarter, $383.74 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $General Mills, Inc. while analysts give the company a high EPS estimate of $Genius Group Limited. Comparatively, EPS for the current quarter was $Gap, Inc. (The) a year ago. Earnings per share for the fiscal year are expected to increase by 4.51%, and 3.57% over the next financial year. EPS should grow at an annualized rate of 7.21% over the next five years, compared to 3.46% over the past 5-year period.
Looking at the support for the GIS, a number of firms have released research notes about the stock. RBC Capital Mkts stated their Sector Perform rating for the stock in a research note on December 21, 2023, with the firm’s price target at $74-$72.
