General Mills, Inc. $GIS Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in General Mills, Inc. (NYSE:GIS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 654,993 shares of the company’s stock, valued at approximately $21,065,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.12% of General Mills as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GIS. BlackRock Inc. acquired a new stake in shares of General Mills in the 2nd quarter valued at $2,181,608,000. Dimensional Fund Advisors LP raised its holdings in shares of General Mills by 2.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,672,503 shares of the company’s stock worth $248,344,000 after buying an additional 143,265 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of General Mills by 1.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,200,299 shares of the company’s stock worth $156,335,000 after buying an additional 58,608 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of General Mills by 41.0% during the 2nd quarter. HighTower Advisors LLC now owns 4,140,772 shares of the company’s stock worth $144,099,000 after buying an additional 1,203,993 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of General Mills by 30.4% during the 1st quarter. First Trust Advisors LP now owns 3,591,408 shares of the company’s stock worth $133,672,000 after buying an additional 836,286 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

NYSE:GIS opened at $34.77 on Tuesday. The stock has a market cap of $18.59 billion, a P/E ratio of -20.95, a price-to-earnings-growth ratio of 1.79 and a beta of 0.03. The company has a current ratio of 0.70, a quick ratio of 0.39 and a debt-to-equity ratio of 1.66. The stock’s 50-day moving average is $35.30 and its 200-day moving average is $37.56. General Mills, Inc. has a 1-year low of $31.17 and a 1-year high of $49.59.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 23rd. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. General Mills had a negative net margin of 4.89% and a positive return on equity of 21.86%. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.35 billion. During the same period in the previous year, the firm posted $0.86 EPS. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities research analysts anticipate that General Mills, Inc. will post 3.08 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th were paid a $0.61 dividend. The ex-dividend date of this dividend was Tuesday, October 13th. This represents a $2.44 annualized dividend and a dividend yield of 7.0%. General Mills’s dividend payout ratio is presently -146.99%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $30.00 price target on shares of General Mills in a report on Thursday, September 24th. Weiss Ratings raised shares of General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday. Royal Bank Of Canada reissued an “outperform” rating and issued a $45.00 price objective on shares of General Mills in a research note on Monday, September 21st. UBS Group restated a “sell” rating on shares of General Mills in a research report on Wednesday, September 16th. Finally, Bank of America reaffirmed a “neutral” rating on shares of General Mills in a research note on Thursday, September 24th. Four equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $36.59.

About General Mills

General Mills, Inc is a global food company that manufactures and markets branded consumer foods. Its portfolio includes cereal, snack foods, refrigerated and baking products, yogurt, soup, meals, and pet food. The company’s brands include Cheerios, Cinnamon Toast Crunch, Nature Valley, Betty Crocker, Pillsbury, Yoplait, Old El Paso, Progresso, Annie’s, Totino’s, Häagen-Dazs, and Blue Buffalo.

General Mills sells products through grocery stores, mass merchandisers, convenience stores, e-commerce channels, restaurants, and other foodservice outlets.