Korea Investment CORP Sells 74,212 Shares of General Mills, Inc. $GIS

Key Points

• Korea Investment CORP has reduced its stake in General Mills, Inc. by 24.9%, now holding 223,918 shares worth approximately $13.39 million.
• General Mills recently declared a quarterly dividend of $0.61 per share, representing a 4.9% yield, an increase from the previous quarterly dividend.
• The company reported earnings of $0.74 per share for the latest quarter, exceeding expectations but showing a 3.3% decline in revenue year-over-year.

Korea Investment CORP lowered its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 24.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 223,918 shares of the company's stock after selling 74,212 shares during the period. Korea Investment CORP's holdings in General Mills were worth $13,388,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Perkins Coie Trust Co increased its stake in shares of General Mills by 69.2% during the first quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock worth $31,000 after purchasing an additional 211 shares during the period. Smallwood Wealth Investment Management LLC bought a new position in General Mills during the 1st quarter worth $34,000. GKV Capital Management Co. Inc. bought a new position in General Mills during the 1st quarter worth $34,000. Heck Capital Advisors LLC bought a new position in General Mills during the 4th quarter worth $38,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in General Mills during the 1st quarter worth $37,000. Institutional investors own 75.71% of the company's stock.

Analyst Ratings Changes

GIS has been the topic of a number of recent research reports. Royal Bank Of Canada upgraded General Mills from a "sector perform" rating to an "outperform" rating and lowered their price objective for the stock from $67.00 to $63.00 in a research note on Thursday, June 26th. UBS Group lowered their price objective on General Mills from $52.00 to $49.00 and set a "sell" rating on the stock in a research note on Thursday, June 26th. Stifel Nicolaus lowered their price objective on General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Wells Fargo & Company set a $53.00 price target on General Mills and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $45.00 price target (down previously from $53.00) on shares of General Mills in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, General Mills presently has a consensus rating of "Hold" and a consensus price target of $59.13.

General Mills Price Performance

Shares of NYSE GIS traded up $0.3260 during mid-day trading on Friday, hitting $50.1360. 3,871,453 shares of the stock traded hands, compared to its average volume of 5,435,833. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.67 and a quick ratio of 0.43. General Mills, Inc. has a twelve month low of $48.59 and a twelve month high of $75.90. The company has a market cap of $27.20 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 1.27 and a beta of -0.01. The firm has a 50 day simple moving average of $50.85 and a two-hundred day simple moving average of $55.17.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings data on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. The company 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%.General Mills's revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. As a group, equities research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal 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 issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Thursday, July 10th. This is a boost from General Mills's previous quarterly dividend of $0.60. General Mills's dividend payout ratio (DPR) is presently 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.