Nisa Investment Advisors LLC Has $8.12 Million Stock Holdings in General Mills, Inc. $GIS

Nisa Investment Advisors LLC boosted its stake in General Mills, Inc. (NYSE:GIS) by 17.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 174,586 shares of the company’s stock after buying an additional 26,482 shares during the quarter. Nisa Investment Advisors LLC’s holdings in General Mills were worth $8,118,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of GIS. North Star Investment Management Corp. raised its stake in shares of General Mills by 255.8% during the 3rd quarter. North Star Investment Management Corp. now owns 59,791 shares of the company’s stock worth $3,015,000 after purchasing an additional 42,986 shares in the last quarter. AE Wealth Management LLC grew its stake in shares of General Mills by 7.7% in the 3rd quarter. AE Wealth Management LLC now owns 346,005 shares of the company’s stock valued at $17,445,000 after buying an additional 24,688 shares in the last quarter. Korea Investment CORP increased its holdings in General Mills by 161.9% in the third quarter. Korea Investment CORP now owns 333,199 shares of the company’s stock worth $16,800,000 after buying an additional 205,981 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in General Mills by 2,806.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 762,517 shares of the company’s stock worth $35,457,000 after buying an additional 736,283 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its position in General Mills by 22.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company’s stock valued at $384,625,000 after acquiring an additional 1,383,913 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Up 0.1%

Shares of General Mills stock opened at $37.26 on Thursday. General Mills, Inc. has a 12-month low of $35.63 and a 12-month high of $62.61. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 1.17. The stock has a 50 day moving average price of $43.14 and a two-hundred day moving average price of $45.88. The stock has a market capitalization of $19.88 billion, a P/E ratio of 9.11 and a beta of 0.01.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). General Mills had a net margin of 12.05% and a return on equity of 19.19%. The firm had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the prior year, the business earned $1.12 EPS. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. Equities analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 6.5%. The ex-dividend date is Friday, April 10th. General Mills’s dividend payout ratio (DPR) is 59.66%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Zacks Research cut shares of General Mills from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 19th. Royal Bank Of Canada dropped their price target on shares of General Mills from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, March 19th. Piper Sandler cut their price target on shares of General Mills from $53.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, March 19th. Stifel Nicolaus reduced their price objective on shares of General Mills from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, March 19th. Finally, Barclays decreased their price objective on shares of General Mills from $46.00 to $43.00 and set an “equal weight” rating for the company in a report on Monday, March 16th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Mills presently has a consensus rating of “Reduce” and an average target price of $43.56.

About General Mills

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.