Korea Investment CORP lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 92.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,229 shares of the company’s stock after selling 225,665 shares during the period. Korea Investment CORP’s holdings in General Mills were worth $825,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of GIS. Acadian Asset Management LLC acquired a new stake in shares of General Mills during the second quarter worth about $115,000. CSat Investment Advisory L.P. acquired a new stake in shares of General Mills during the second quarter worth about $118,000. Kiley Juergens Wealth Management LLC raised its position in shares of General Mills by 108.2% during the third quarter. Kiley Juergens Wealth Management LLC now owns 3,017 shares of the company’s stock worth $129,000 after purchasing an additional 1,568 shares during the period. ELM Advisors LLC acquired a new stake in shares of General Mills during the third quarter worth about $137,000. Finally, Selective Wealth Management acquired a new stake in shares of General Mills during the third quarter worth about $139,000. Hedge funds and other institutional investors own 68.67% of the company’s stock.
A number of equities research analysts have recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $52.00 price target on shares of General Mills in a research report on Monday, September 17th. Morgan Stanley assumed coverage on General Mills in a research report on Monday, September 17th. They set an “equal weight” rating and a $48.00 price target on the stock. Credit Suisse Group set a $46.00 price target on General Mills and gave the stock a “hold” rating in a research report on Thursday, September 13th. ValuEngine raised General Mills from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. Finally, Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the stock. General Mills presently has an average rating of “Hold” and an average target price of $50.06.
General Mills (NYSE:GIS) last announced its earnings results on Tuesday, September 18th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.07. General Mills had a return on equity of 31.84% and a net margin of 13.19%. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the firm earned $0.71 EPS. General Mills’s revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts forecast that General Mills, Inc. will post 3.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Thursday, January 10th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend is Wednesday, January 9th. General Mills’s dividend payout ratio is presently 63.02%.
General Mills Company Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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