14,866 General Mills, Inc. $GIS Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC boosted its stake in General Mills, Inc. (NYSE:GIS) by 14.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 117,372 shares of the company’s stock after buying an additional 14,866 shares during the period. Nisa Investment Advisors LLC’s holdings in General Mills were worth $3,775,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of GIS. BlackRock Inc. acquired a new stake in General Mills during the second quarter worth approximately $2,181,608,000. Bank of New York Mellon Corp bought a new stake in shares of General Mills during the second quarter worth approximately $129,298,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of General Mills in the second quarter valued at approximately $126,097,000. Legal & General Group Plc acquired a new position in shares of General Mills in the second quarter valued at approximately $121,707,000. Finally, Deutsche Bank AG acquired a new position in shares of General Mills in the second quarter valued at approximately $105,889,000. 75.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GIS. Barclays increased their target price on General Mills from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Friday, September 25th. Piper Sandler restated an “overweight” rating on shares of General Mills in a research note on Thursday, September 24th. Evercore set a $38.00 price target on General Mills in a research note on Monday, September 14th. JPMorgan Chase & Co. upped their price objective on General Mills from $31.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $34.00 price objective (up from $33.00) on shares of General Mills in a research report on Thursday, September 24th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, General Mills currently has a consensus rating of “Reduce” and a consensus target price of $36.59.

General Mills Price Performance

Shares of General Mills stock opened at $34.39 on Friday. General Mills, Inc. has a twelve month low of $31.17 and a twelve month high of $49.59. The company has a quick ratio of 0.39, a current ratio of 0.70 and a debt-to-equity ratio of 1.66. The company has a 50-day simple moving average of $35.93 and a two-hundred day simple moving average of $35.55. The stock has a market capitalization of $18.39 billion, a price-to-earnings ratio of -20.71, a price-to-earnings-growth ratio of 1.86 and a beta of 0.03.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.35 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts forecast that General Mills, Inc. will post 3.08 EPS for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Tuesday, October 13th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date is Tuesday, October 13th. General Mills’s payout ratio is presently -146.99%.

More General Mills News

Here are the key news stories impacting General Mills this week:

• Positive Sentiment: Expansion into high-protein snacking: General Mills has launched EPIC Sticks, a four-flavor meat-snack line made with grass-fed beef or free-range chicken. Its gluten-free, dairy-free and Paleo-friendly positioning gives the company exposure to growing demand for convenient, protein-rich snacks and could broaden EPIC’s shelf presence. How EPIC Sticks Launch At General Mills Has Changed Its Investment Story
• Positive Sentiment: Recent earnings modestly exceeded expectations: General Mills previously reported adjusted earnings of $0.75 per share versus the $0.72 consensus estimate, while revenue of $4.39 billion also topped forecasts. The stock was reported to be about 1% higher since that earnings release, although analysts are watching whether estimates support continued momentum. General Mills Up 1% Since Last Earnings Report: Can It Continue?
• Neutral Sentiment: Valuation debate: Commentary suggests the stock’s roughly 38% three-year decline may have reset expectations, but investors still need evidence that General Mills can stabilize its sales base and restore growth. General Mills Stock Seems About Right On Its 38% Slide
• Negative Sentiment: Fundamental and competitive concerns remain: General Mills faces established food giants and agile snack competitors, including Chomps and PepsiCo’s Good Warrior. Revenue in the latest reported quarter declined 2.8% year over year, and commentary questioning the company’s fundamentals could limit investor enthusiasm despite new product launches. 3 Mid-Cap Stocks With Questionable Fundamentals

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.