General Mills, Inc. $GIS Stake Increased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in General Mills, Inc. (NYSE:GIS) by 17.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 574,394 shares of the company’s stock after buying an additional 86,472 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in General Mills were worth $19,989,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Reflection Asset Management acquired a new position in General Mills during the fourth quarter valued at $25,000. Nalls Sherbakoff Group LLC purchased a new position in General Mills during the 4th quarter valued at about $26,000. Bruce G. Allen Investments LLC increased its holdings in shares of General Mills by 139.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock valued at $27,000 after purchasing an additional 337 shares during the period. Zions Bancorporation National Association UT increased its holdings in shares of General Mills by 248.1% in the 4th quarter. Zions Bancorporation National Association UT now owns 630 shares of the company’s stock valued at $29,000 after purchasing an additional 449 shares during the period. Finally, Binnacle Investments Inc lifted its position in shares of General Mills by 312.5% in the third quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock worth $33,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

Shares of GIS opened at $38.87 on Friday. The firm has a market cap of $20.75 billion, a price-to-earnings ratio of -215.94 and a beta of -0.03. The company’s fifty day moving average is $35.98 and its 200-day moving average is $37.96. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. General Mills, Inc. has a 12 month low of $31.75 and a 12 month high of $51.33.

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

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a $0.61 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.3%. General Mills’s payout ratio is currently -1,355.56%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Barclays decreased their price target on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. Jefferies Financial Group boosted their price target on shares of General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on General Mills from $32.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Bank of America upped their target price on General Mills from $36.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $36.00 price target on shares of General Mills in a research note on Tuesday, June 2nd. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, General Mills has an average rating of “Reduce” and a consensus price target of $39.16.

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.