Nisa Investment Advisors LLC trimmed its position in General Mills, Inc. (NYSE:GIS) by 7.6% during the third quarter, HoldingsChannel.com reports. The firm owned 223,258 shares of the company’s stock after selling 18,315 shares during the quarter. Nisa Investment Advisors LLC’s holdings in General Mills were worth $9,583,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its holdings in shares of General Mills by 2.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,682,121 shares of the company’s stock worth $1,048,171,000 after purchasing an additional 598,315 shares during the period. Northern Trust Corp raised its holdings in shares of General Mills by 1.2% during the 2nd quarter. Northern Trust Corp now owns 8,330,777 shares of the company’s stock valued at $368,719,000 after buying an additional 96,628 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of General Mills by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,644,795 shares of the company’s stock valued at $338,359,000 after buying an additional 46,939 shares during the period. Schroder Investment Management Group raised its holdings in shares of General Mills by 5.1% during the 2nd quarter. Schroder Investment Management Group now owns 5,166,277 shares of the company’s stock valued at $230,829,000 after buying an additional 250,508 shares during the period. Finally, Macquarie Group Ltd. raised its holdings in shares of General Mills by 1,063.9% during the 2nd quarter. Macquarie Group Ltd. now owns 4,367,847 shares of the company’s stock valued at $193,313,000 after buying an additional 3,992,581 shares during the period. Institutional investors own 70.67% of the company’s stock.
In other General Mills news, Director Maria Sastre acquired 1,000 shares of the stock in a transaction on Monday, August 20th. The stock was purchased at an average price of $47.37 per share, for a total transaction of $47,370.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at $47,370. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kofi A. Bruce sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $47.28, for a total value of $104,016.00. Following the sale, the insider now owns 19,660 shares of the company’s stock, valued at approximately $929,524.80. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Tuesday, September 18th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. General Mills had a return on equity of 31.84% and a net margin of 13.19%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the firm earned $0.71 EPS. General Mills’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts expect that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th will be paid a dividend of $0.49 per share. The ex-dividend date is Tuesday, October 9th. This represents a $1.96 dividend on an annualized basis and a yield of 4.40%. General Mills’s dividend payout ratio (DPR) is presently 63.02%.
Several equities research analysts recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $52.00 target price on shares of General Mills in a report on Monday, September 17th. Morgan Stanley assumed coverage on General Mills in a report on Monday, September 17th. They set an “equal weight” rating and a $48.00 target price on the stock. Credit Suisse Group set a $46.00 target price on General Mills and gave the company a “hold” rating in a report on Thursday, September 13th. ValuEngine upgraded General Mills from a “strong sell” rating to a “sell” rating in a report on Friday, September 7th. Finally, Bank of America reiterated a “hold” rating and set a $49.00 target price on shares of General Mills in a report on Wednesday, June 27th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $50.29.
General Mills Company Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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