Nomura Asset Management Co. Ltd. Has $4.03 Million Position in General Mills, Inc. (GIS)
Nomura Asset Management Co. Ltd. increased its holdings in General Mills, Inc. (NYSE:GIS) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 93,954 shares of the company’s stock after purchasing an additional 6,124 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in General Mills were worth $4,032,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of General Mills in the second quarter worth $115,000. Adviser Investments LLC grew its stake in shares of General Mills by 158.7% in the second quarter. Adviser Investments LLC now owns 2,608 shares of the company’s stock worth $115,000 after purchasing an additional 1,600 shares during the last quarter. CSat Investment Advisory L.P. bought a new stake in shares of General Mills in the second quarter worth $118,000. Kiley Juergens Wealth Management LLC grew its stake in shares of General Mills by 108.2% in the third quarter. Kiley Juergens Wealth Management LLC now owns 3,017 shares of the company’s stock worth $129,000 after purchasing an additional 1,568 shares during the last quarter. Finally, ELM Advisors LLC bought a new stake in shares of General Mills in the third quarter worth $137,000. 69.06% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $52.00 price objective on shares of General Mills in a research note on Monday, September 17th. Morgan Stanley assumed coverage on shares of General Mills in a research note on Monday, September 17th. They issued an “equal weight” rating and a $48.00 price objective on the stock. Credit Suisse Group set a $46.00 price objective on shares of General Mills and gave the stock a “hold” rating in a research note on Thursday, September 13th. ValuEngine raised shares of General Mills from a “strong sell” rating to a “sell” rating in a research note on Friday, September 7th. Finally, Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company’s stock. General Mills presently has a consensus rating of “Hold” and an average price target of $50.29.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Tuesday, September 18th. The company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.07. General Mills had a net margin of 13.19% and a return on equity of 31.84%. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts predict that General Mills, Inc. will post 3.07 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be issued a dividend of $0.49 per share. The ex-dividend date is Wednesday, January 9th. This represents a $1.96 annualized dividend and a dividend yield of 4.43%. General Mills’s dividend payout ratio is currently 63.02%.
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About General Mills
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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