JPMorgan Chase & Co. reduced its stake in General Mills (GIS) by 5.8% in Q3, selling 361,965 shares due to earlier guidance cuts and weakening demand. Despite a 7.2% decline in revenue year-over-year, General Mills exceeded quarterly EPS estimates and maintains a quarterly dividend of $0.61, supported by analyst sentiment for its long-term resilience and dividend reliability. The company is strategically repositioning with protein-focused cereals amidst analyst downgrades and a lower consensus target price of $51.37.
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General Mills, Inc. $GIS Shares Sold by JPMorgan Chase & Co.
JPMorgan Chase & Co. reduced its stake in General Mills (GIS) by 5.8% in Q3, selling 361,965 shares due to earlier guidance cuts and weakening demand. Despite a 7.2% decline in revenue year-over-year, General Mills exceeded quarterly EPS estimates and maintains a quarterly dividend of $0.61, supported by analyst sentiment for its long-term resilience and dividend reliability. The company is strategically repositioning with protein-focused cereals amidst analyst downgrades and a lower consensus target price of $51.37.