General Mills, Inc. $GIS Stock: Nisa Investment Advisors LLC Grows Stake

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

Several other large investors also recently modified their holdings of GIS. Bank of Nova Scotia acquired a new position in General Mills in the second quarter valued at about $5,195,000. KBC Group NV grew its stake in General Mills by 40.5% during the first quarter. KBC Group NV now owns 771,730 shares of the company’s stock worth $28,724,000 after buying an additional 222,602 shares in the last quarter. Tidal Investments LLC grew its stake in General Mills by 52.6% during the second quarter. Tidal Investments LLC now owns 127,535 shares of the company’s stock worth $4,438,000 after buying an additional 43,958 shares in the last quarter. Delta Global Management LP acquired a new stake in General Mills during the first quarter worth about $1,849,000. Finally, Wealthfront Advisers LLC bought a new position in General Mills in the 2nd quarter valued at about $21,342,000. 75.71% of the stock is owned by institutional investors and hedge funds.

Key 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

General Mills Price Performance

General Mills stock opened at $34.39 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.39 and a current ratio of 0.70. General Mills, Inc. has a 52 week low of $31.17 and a 52 week high of $49.59. The stock has a market capitalization of $18.39 billion, a P/E ratio of -20.71, a price-to-earnings-growth ratio of 1.86 and a beta of 0.03. The stock has a fifty day moving average of $35.93 and a 200-day moving average of $35.55.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 23rd. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.35 billion. General Mills had a positive return on equity of 21.86% and a negative net margin of 4.89%. General Mills’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 EPS. On average, sell-side analysts expect that General Mills, Inc. will post 3.08 earnings per share for the current fiscal year.

General Mills Announces Dividend

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

Analyst Ratings Changes

GIS has been the subject of several analyst reports. UBS Group restated a “sell” rating on shares of General Mills in a research report on Wednesday, September 16th. Evercore set a $38.00 price target on shares of General Mills in a report on Monday, September 14th. Sanford C. Bernstein reiterated an “underperform” rating and set a $30.00 price target on shares of General Mills in a research report on Thursday, September 24th. Barclays increased their price target on shares of General Mills from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Friday, September 25th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of General Mills from $31.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $36.59.

General Mills Profile

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.