11 Best Ice Cream Stocks to Invest In 2024

4. General Mills, Inc. (NYSE:GIS)   

Number of Hedge Fund Investors’ holdings: 39

A U.S.-based MNC, General Mills, Inc. (NYSE:GIS) is engaged in the making of branded processed goods, and owns Häagen-Dazs, one American ice cream brand under its portfolio of many other categories of products.

While net sales of the company were down 1% to $5.1 billion for the quarter ending February 25, 2024, the gross profit margin was up 11 basis points to 33.5%, on the back of efficient cost savings. Operating profit was also on the rise, as it increased 25% to $911 million. As a result, diluted EPS shot up 27% to $1.17.

On the back of consistent growth of the company, 39 hedge funds have their holdings in the stock, carrying a value of $851.9 million; Two Sigma Advisors hold the highest interest in the stock with 1,793,099 shares, worth $186.5 million. Moreover, most of the analysts are holding this stock, eyeing a price target of $71.6 through a potential rise of 9.6%!