Nomura Asset Management Co. Ltd. Reduces Stake in General Mills, Inc. (NYSE:GIS)

Nomura Asset Management Co. Ltd. decreased its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 22.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 192,590 shares of the company's stock after selling 56,550 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in General Mills were worth $14,223,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Y Intercept Hong Kong Ltd bought a new stake in General Mills in the third quarter valued at $1,214,000. Bontempo Ohly Capital Mgmt LLC grew its stake in shares of General Mills by 0.6% in the 3rd quarter. Bontempo Ohly Capital Mgmt LLC now owns 62,767 shares of the company's stock valued at $4,635,000 after buying an additional 349 shares during the period. Orion Portfolio Solutions LLC increased its position in General Mills by 47.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 28,950 shares of the company's stock valued at $2,138,000 after buying an additional 9,285 shares in the last quarter. XTX Topco Ltd acquired a new position in General Mills during the 3rd quarter worth approximately $3,467,000. Finally, iSAM Funds UK Ltd bought a new position in General Mills in the third quarter worth approximately $825,000. Institutional investors own 75.71% of the company's stock.

General Mills Stock Performance

GIS stock traded up $0.58 during midday trading on Thursday, hitting $66.08. The company's stock had a trading volume of 3,368,165 shares, compared to its average volume of 3,896,649. The stock has a market cap of $36.68 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 3.39 and a beta of 0.10. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The stock's 50-day moving average price is $67.48 and its 200 day moving average price is $68.23. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the previous year, the firm earned $1.09 EPS. The firm's quarterly revenue was down 1.2% on a year-over-year basis. On average, equities analysts forecast that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.63%. General Mills's payout ratio is currently 57.14%.

Insider Buying and Selling

In other news, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the transaction, the director now owns 23,013 shares in the company, valued at $1,465,007.58. This trade represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the company's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total transaction of $173,514.75. Following the sale, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,555 shares of company stock valued at $4,721,336. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. TD Cowen boosted their price objective on General Mills from $72.00 to $75.00 and gave the company a "hold" rating in a report on Friday, September 20th. Bank of America boosted their price target on shares of General Mills from $68.00 to $75.00 and gave the company a "neutral" rating in a research note on Thursday, September 12th. Wells Fargo & Company reduced their price objective on shares of General Mills from $77.00 to $70.00 and set an "equal weight" rating for the company in a report on Friday, November 15th. Piper Sandler upped their target price on shares of General Mills from $74.00 to $84.00 and gave the stock an "overweight" rating in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. lifted their price target on General Mills from $63.00 to $67.00 and gave the company a "neutral" rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, General Mills presently has an average rating of "Hold" and an average target price of $72.67.

General Mills Profile

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 savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.