General Mills, Inc. (NYSE:GIS) Shares Purchased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. grew its position in General Mills, Inc. (NYSE:GISFree Report) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 206,139 shares of the company’s stock after acquiring an additional 8,161 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in General Mills were worth $13,191,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GIS. Cibc World Market Inc. lifted its position in General Mills by 4.8% during the first quarter. Cibc World Market Inc. now owns 22,026 shares of the company’s stock valued at $1,492,000 after buying an additional 1,003 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of General Mills by 45.3% during the first quarter. Sequoia Financial Advisors LLC now owns 5,867 shares of the company’s stock valued at $397,000 after purchasing an additional 1,828 shares during the period. Candriam Luxembourg S.C.A. increased its stake in General Mills by 2.1% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 73,176 shares of the company’s stock valued at $4,955,000 after buying an additional 1,503 shares during the period. Baird Financial Group Inc. lifted its stake in shares of General Mills by 2.3% in the 1st quarter. Baird Financial Group Inc. now owns 279,604 shares of the company’s stock worth $18,935,000 after acquiring an additional 6,176 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of General Mills by 15.3% in the first quarter. Covestor Ltd now owns 1,834 shares of the company’s stock valued at $124,000 after acquiring an additional 244 shares in the last quarter. 75.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GIS has been the subject of several research analyst reports. Bank of America reduced their price target on shares of General Mills from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday, December 21st. Royal Bank of Canada reduced their target price on General Mills from $74.00 to $72.00 and set a “sector perform” rating for the company in a report on Thursday, December 21st. Stifel Nicolaus lowered their target price on shares of General Mills from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, December 21st. Mizuho cut their price target on General Mills from $70.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, December 22nd. Finally, Piper Sandler reduced their price target 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. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $73.00.

Check Out Our Latest Research Report on GIS

General Mills Price Performance

Shares of GIS traded up $0.04 during midday trading on Friday, hitting $64.51. The company’s stock had a trading volume of 2,821,293 shares, compared to its average volume of 4,263,927. The company’s fifty day simple moving average is $64.70 and its two-hundred day simple moving average is $66.86. The company has a quick ratio of 0.36, a current ratio of 0.64 and a debt-to-equity ratio of 1.09. General Mills, Inc. has a one year low of $60.33 and a one year high of $90.89. The stock has a market capitalization of $36.63 billion, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 2.23 and a beta of 0.21.

General Mills (NYSE:GISGet Free Report) last announced its quarterly earnings data on Wednesday, December 20th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.16 by $0.09. The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.35 billion. General Mills had a net margin of 12.06% and a return on equity of 25.44%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.10 EPS. As a group, equities analysts expect that General Mills, Inc. will post 4.48 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 Thursday, February 1st. Investors of record on Wednesday, January 10th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a yield of 3.66%. General Mills’s dividend payout ratio is presently 57.42%.

Insider Transactions at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 60,056 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the completion of the transaction, the chief executive officer now owns 318,483 shares of the company’s stock, valued at $20,523,044.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is currently owned by company insiders.

General Mills Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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