Korea Investment CORP Takes Position in General Mills, Inc. $GIS

Korea Investment CORP bought a new position in General Mills, Inc. (NYSE:GIS) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 54,331 shares of the company’s stock, valued at approximately $1,891,000.

Other large investors have also recently modified their holdings of the company. Marshall Wace LLP purchased a new stake in shares of General Mills in the second quarter valued at $9,188,000. Bank of Nova Scotia boosted its stake in shares of General Mills by 4.1% during the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock worth $3,374,000 after purchasing an additional 2,552 shares during the period. WINTON GROUP Ltd boosted its stake in shares of General Mills by 112.6% during the 2nd quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock worth $465,000 after purchasing an additional 4,752 shares during the period. Daiwa Securities Group Inc. grew its holdings in General Mills by 4.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock valued at $4,250,000 after purchasing an additional 3,814 shares during the last quarter. Finally, Nebula Research & Development LLC grew its holdings in General Mills by 334.2% during the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock valued at $1,012,000 after purchasing an additional 15,041 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Piper Sandler reduced their price objective on shares of General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Bank of America increased their price target on General Mills from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. Wells Fargo & Company raised their price target on General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, July 2nd. Weiss Ratings upgraded General Mills from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 2nd. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $36.00 price objective on shares of General Mills in a report on Tuesday, June 2nd. Four research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, General Mills has an average rating of “Reduce” and an average target price of $39.16.

General Mills Trading Up 2.4%

Shares of GIS opened at $40.92 on Tuesday. The firm has a market capitalization of $21.88 billion, a price-to-earnings ratio of -227.32 and a beta of -0.03. 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, Inc. has a 1-year low of $31.75 and a 1-year high of $51.33. The company has a 50-day moving average of $36.77 and a 200 day moving average of $37.67.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.15. The business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.59 billion. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 EPS. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, research analysts expect that General Mills, Inc. will post 3.07 EPS for the current year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a $0.61 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.0%. General Mills’s payout ratio is presently -1,355.56%.

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.