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

Key Points

• Mirae Asset Global Investments increased its General Mills stake by 17.7% in the second quarter, acquiring 86,472 additional shares for a total of 574,394 shares valued at approximately $20 million.
• General Mills reported quarterly earnings of $0.95 per share, exceeding analyst expectations of $0.80, while revenue rose 1.2% year over year to $4.61 billion.
• The company’s quarterly dividend of $0.61 represents an annualized payout of $2.44 and a 6.3% yield. Analysts maintain a consensus “Reduce” rating with an average price target of $39.16.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 17.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 574,394 shares of the company's stock after acquiring an additional 86,472 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.11% of General Mills worth $19,989,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Reflection Asset Management bought a new position in General Mills during the 4th quarter valued at $25,000. Nalls Sherbakoff Group LLC acquired a new position in shares of General Mills during the 4th quarter valued at $26,000. Bruce G. Allen Investments LLC raised its stake 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 worth $27,000 after buying an additional 337 shares in the last quarter. Zions Bancorporation National Association UT raised its stake 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 worth $29,000 after buying an additional 449 shares in the last quarter. Finally, Binnacle Investments Inc lifted its holdings in shares of General Mills by 312.5% in the third quarter. Binnacle Investments Inc now owns 660 shares of the company's stock valued at $33,000 after buying an additional 500 shares during the period. Institutional investors own 75.71% of the company's stock.

General Mills Stock Up 1.8%

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

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates 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 positive return on equity of 21.37% and a negative net margin of 0.48%.General Mills's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities analysts anticipate that General Mills, Inc. will post 3.07 earnings per share for the current year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend was Friday, July 10th. General Mills's dividend payout ratio (DPR) is -1,355.56%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley lowered their target price on General Mills from $37.00 to $32.00 and set an "underweight" rating on the stock in a report on Friday, June 5th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of General Mills from $32.00 to $33.00 and gave the company a "hold" rating in a research report on Thursday, July 2nd. UBS Group set a $33.00 price objective on shares of General Mills in a research note on Monday, July 6th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $36.00 target price on shares of General Mills in a report on Tuesday, June 2nd. Finally, Weiss Ratings raised shares of General Mills from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $39.16.

About General Mills

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.

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