Mirae Asset Global Investments Co. Ltd. Has $10.16 Million Stake in General Mills, Inc. (NYSE:GIS)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 0.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 155,908 shares of the company’s stock after buying an additional 691 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in General Mills were worth $10,156,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. FWL Investment Management LLC acquired a new position in General Mills in the 4th quarter valued at approximately $25,000. Almanack Investment Partners LLC. acquired a new position in shares of General Mills in the third quarter valued at $28,000. Intrepid Capital Management Inc. acquired a new position in shares of General Mills in the second quarter valued at $28,000. Operose Advisors LLC lifted its position in General Mills by 214.1% in the third quarter. Operose Advisors LLC now owns 402 shares of the company’s stock worth $26,000 after purchasing an additional 274 shares during the period. Finally, Bruce G. Allen Investments LLC acquired a new stake in General Mills during the fourth quarter worth $28,000. Institutional investors own 75.71% of the company’s stock.

General Mills Trading Down 1.2 %

GIS opened at $66.20 on Friday. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $90.89. The stock has a market capitalization of $37.59 billion, a PE ratio of 15.18, a PEG ratio of 2.38 and a beta of 0.15. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average price of $66.36 and a two-hundred day moving average price of $65.14.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.05 by $0.12. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $4.97 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. General Mills’s revenue was down .5% compared to the same quarter last year. As a group, equities analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.56%. General Mills’s payout ratio is currently 54.13%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GIS shares. Piper Sandler reduced their price objective on shares of General Mills from $77.00 to $76.00 and set an “overweight” rating for the company in a report on Friday, December 15th. Morgan Stanley lifted their price objective on General Mills from $58.00 to $61.00 and gave the company an “underweight” rating in a report on Thursday, March 21st. Wells Fargo & Company increased their target price on General Mills from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. Stifel Nicolaus boosted their price target on General Mills from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, Citigroup began coverage on General Mills in a research note on Thursday, February 1st. They set a “neutral” rating and a $67.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $72.18.

Insider Activity

In other General Mills news, CEO Jeffrey L. Harmening sold 60,056 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the completion of the sale, the chief executive officer now directly owns 318,483 shares of the company’s stock, valued at approximately $20,523,044.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jonathon Nudi sold 10,000 shares of General Mills stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $69.21, for a total transaction of $692,100.00. Following the completion of the sale, the insider now directly owns 93,381 shares of the company’s stock, valued at $6,462,899.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey L. Harmening sold 60,056 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total value of $3,870,008.64. Following the completion of the sale, the chief executive officer now owns 318,483 shares of the company’s stock, valued at approximately $20,523,044.52. The disclosure for this sale can be found here. Insiders have sold 77,782 shares of company stock valued at $5,057,820 over the last 90 days. 0.24% of the stock is owned by company insiders.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.