Corebridge Financial Inc. Has $9.06 Million Position in General Mills, Inc. $GIS

Key Points

• Corebridge Financial Inc. reduced its stake in General Mills by 15.7%, owning 151,524 shares valued at approximately $9.06 million as of its latest SEC filing.
• General Mills reported a quarterly EPS of $0.74, exceeding analysts' estimates of $0.72, although revenue decreased by 3.3% compared to the previous year.
• The company has increased its quarterly dividend to $0.61 from $0.60, representing an annualized yield of 5.0%.

Corebridge Financial Inc. lowered its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 15.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 151,524 shares of the company's stock after selling 28,306 shares during the period. Corebridge Financial Inc.'s holdings in General Mills were worth $9,060,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GIS. Perpetual Ltd lifted its stake in shares of General Mills by 3.5% in the first quarter. Perpetual Ltd now owns 5,411 shares of the company's stock worth $324,000 after buying an additional 184 shares during the last quarter. Conning Inc. raised its stake in shares of General Mills by 4.6% in the first quarter. Conning Inc. now owns 4,212 shares of the company's stock valued at $252,000 after purchasing an additional 185 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of General Mills by 0.4% in the first quarter. Benjamin Edwards Inc. now owns 52,298 shares of the company's stock valued at $3,127,000 after purchasing an additional 185 shares in the last quarter. Eastern Bank raised its stake in General Mills by 0.8% during the first quarter. Eastern Bank now owns 24,817 shares of the company's stock worth $1,484,000 after acquiring an additional 186 shares in the last quarter. Finally, SPC Financial Inc. raised its stake in General Mills by 1.5% during the first quarter. SPC Financial Inc. now owns 13,452 shares of the company's stock worth $804,000 after acquiring an additional 193 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Barclays dropped their price target on General Mills from $60.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, June 26th. Morgan Stanley reaffirmed an "underweight" rating and set a $51.00 target price (down previously from $53.00) on shares of General Mills in a report on Tuesday, June 24th. Stifel Nicolaus cut their target price on shares of General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. The Goldman Sachs Group lowered shares of General Mills from a "buy" rating to a "neutral" rating and cut their target price for the stock from $68.00 to $58.00 in a report on Monday, June 9th. Finally, Wall Street Zen upgraded shares of General Mills from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, General Mills currently has a consensus rating of "Hold" and an average price target of $59.13.

General Mills Stock Performance

NYSE:GIS opened at $49.28 on Thursday. The stock has a market cap of $26.73 billion, a P/E ratio of 12.02, a PEG ratio of 1.24 and a beta of -0.01. The stock has a 50 day simple moving average of $50.62 and a 200 day simple moving average of $55.00. The company has a current ratio of 0.67, a quick ratio of 0.43 and a debt-to-equity ratio of 1.38. General Mills, Inc. has a 1-year low of $48.59 and a 1-year high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. The business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.60 billion. General Mills had a return on equity of 24.88% and a net margin of 11.78%.The firm's quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 earnings per share. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. Research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were given a $0.61 dividend. This is an increase from General Mills's previous quarterly dividend of $0.60. This represents a $2.44 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Thursday, July 10th. General Mills's dividend payout ratio (DPR) is 59.51%.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.

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