MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Holdings in General Mills, Inc. $GIS

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stock holdings in General Mills, Inc. by 8.7% during the first quarter, totaling 137,175 shares worth $8,193,000.
• General Mills has received various price target adjustments from analysts, with Bank of America lowering its target from $63.00 to $61.00 and Morgan Stanley adjusting theirs from $53.00 to $51.00.
• The company announced a quarterly dividend increase to $0.61 per share, resulting in an annualized dividend yield of 4.9%, up from the previous $0.60.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,175 shares of the company's stock after buying an additional 10,938 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in General Mills were worth $8,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GIS. Perkins Coie Trust Co grew its stake in General Mills by 69.2% during the 1st quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock worth $31,000 after buying an additional 211 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in General Mills during the 1st quarter worth $34,000. GKV Capital Management Co. Inc. purchased a new position in General Mills during the 1st quarter worth $34,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in General Mills during the 1st quarter worth $37,000. Finally, Heck Capital Advisors LLC purchased a new position in General Mills during the 4th quarter worth $38,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GIS has been the topic of several research analyst reports. Bank of America dropped their target price on General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Morgan Stanley reiterated an "underweight" rating and set a $51.00 price target (down previously from $53.00) on shares of General Mills in a research note on Tuesday, June 24th. Stifel Nicolaus dropped their price target 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. Barclays dropped their price target on General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 26th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and set a $45.00 price target (down previously from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $59.13.

General Mills Stock Performance

Shares of GIS stock opened at $50.01 on Thursday. The stock has a market cap of $27.13 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.27 and a beta of -0.02. The business has a 50-day simple moving average of $50.09 and a 200-day simple moving average of $54.36. The company has a quick ratio of 0.43, a current ratio of 0.67 and a debt-to-equity ratio of 1.38. General Mills, Inc. has a 52-week low of $48.29 and a 52-week high of $75.66.

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

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a $0.61 dividend. This is a boost from General Mills's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $2.44 annualized dividend and a dividend yield of 4.9%. General Mills's payout ratio is presently 59.51%.

About General Mills

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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