Korea Investment CORP Buys New Shares in General Mills, Inc. $GIS

Korea Investment CORP bought a new position in General Mills, Inc. (NYSE:GIS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 54,331 shares of the company's stock, valued at approximately $1,891,000.

A number of other institutional investors have also bought and sold shares of GIS. Reflection Asset Management bought a new position in shares of General Mills in the fourth quarter worth about $25,000. Nalls Sherbakoff Group LLC bought a new stake in General Mills during the 4th quarter valued at approximately $26,000. Bruce G. Allen Investments LLC raised its stake in General Mills by 139.8% during 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 lifted its holdings in 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 purchasing an additional 449 shares in the last quarter. Finally, Binnacle Investments Inc lifted its holdings in General Mills by 312.5% in the 3rd 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

NYSE:GIS opened at $40.92 on Tuesday. The company has a market cap of $21.88 billion, a price-to-earnings ratio of -227.32 and a beta of -0.03. General Mills, Inc. has a 1 year low of $31.75 and a 1 year high of $51.33. The stock's 50 day simple moving average is $36.77 and its two-hundred day simple moving average is $37.67. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40.

General Mills (NYSE:GIS - Get Free Report) last posted its earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.15. General Mills had a positive return on equity of 21.37% and a negative net margin of 0.48%.The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. During the same period in the prior year, the company earned $0.53 EPS. The company's quarterly revenue was up 1.2% compared to the same quarter last year. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, equities analysts anticipate that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were given a dividend of $0.61 per share. The ex-dividend date was Friday, July 10th. This represents a $2.44 annualized dividend and a yield of 6.0%. General Mills's dividend payout ratio (DPR) is -1,355.56%.

Analyst Ratings Changes

A number of brokerages have issued reports on GIS. BNP Paribas Exane increased their price objective on shares of General Mills from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Thursday, July 2nd. Piper Sandler lowered their target price on shares of General Mills from $45.00 to $41.00 and set an "overweight" rating on the stock in a report on Wednesday, May 13th. Bank of America upped their target price on shares of General Mills from $36.00 to $39.00 and gave the stock a "neutral" rating in a research report on Thursday, July 2nd. 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. Finally, Morgan Stanley reduced their price target on shares of General Mills from $37.00 to $32.00 and set an "underweight" rating on the stock in a report on Friday, June 5th. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have assigned a Sell rating to the company's stock. According to data from MarketBeat, General Mills currently 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.

Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source