Mirae Asset Global Investments Co. Ltd. Boosts Stake in General Mills, Inc. (NYSE:GIS)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 794.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 522,532 shares of the company's stock after acquiring an additional 464,083 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.09% of General Mills worth $30,887,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC acquired a new stake in shares of General Mills in the fourth quarter worth $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of General Mills in the fourth quarter worth $31,000. Perkins Coie Trust Co increased its stake in shares of General Mills by 69.2% in the first quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock worth $31,000 after acquiring an additional 211 shares during the period. VSM Wealth Advisory LLC acquired a new stake in shares of General Mills in the fourth quarter worth $32,000. Finally, Transce3nd LLC acquired a new stake in shares of General Mills in the fourth quarter worth $32,000. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Stock Performance

GIS opened at $50.51 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.67 and a debt-to-equity ratio of 1.38. The company has a market cap of $27.84 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.26 and a beta of 0.02. General Mills, Inc. has a 52-week low of $50.19 and a 52-week high of $75.90. The firm's fifty day simple moving average is $54.34 and its two-hundred day simple moving average is $58.31.

General Mills (NYSE:GIS - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $4.60 billion. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The company's revenue was down 3.3% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. Equities analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 4.83%. This is an increase from General Mills's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, July 10th. General Mills's dividend payout ratio (DPR) is presently 52.75%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of General Mills from $60.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, March 20th. Mizuho cut their price objective on shares of General Mills from $62.00 to $60.00 and set a "neutral" rating on the stock in a research note on Thursday, March 20th. UBS Group dropped their price target on shares of General Mills from $52.00 to $49.00 and set a "sell" rating on the stock in a research report on Thursday. Royal Bank Of Canada upgraded shares of General Mills from a "sector perform" rating to an "outperform" rating and dropped their price target for the company from $67.00 to $63.00 in a research report on Thursday. Finally, Barclays dropped their price target on shares of General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $59.73.

General Mills 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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