Nisa Investment Advisors LLC Reduces Holdings in General Mills, Inc. (NYSE:GIS)

Nisa Investment Advisors LLC decreased its stake in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 165,313 shares of the company's stock after selling 23,735 shares during the quarter. Nisa Investment Advisors LLC's holdings in General Mills were worth $9,884,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of GIS. CBIZ Investment Advisory Services LLC bought a new stake in shares of General Mills during the fourth quarter valued at approximately $30,000. Perkins Coie Trust Co raised its position in shares of General Mills by 69.2% during the first quarter. Perkins Coie Trust Co now owns 516 shares of the company's stock worth $31,000 after purchasing an additional 211 shares during the period. VSM Wealth Advisory LLC acquired a new position in shares of General Mills during the fourth quarter worth approximately $32,000. Transce3nd LLC acquired a new position in shares of General Mills during the fourth quarter valued at about $32,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of General Mills during the first quarter valued at about $34,000. Institutional investors and hedge funds own 75.71% of the company's stock.

General Mills Stock Performance

NYSE:GIS traded up $0.24 during trading on Friday, reaching $51.60. The company's stock had a trading volume of 4,847,039 shares, compared to its average volume of 4,704,335. The firm has a market cap of $27.99 billion and a price-to-earnings ratio of 12.59. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.43 and a current ratio of 0.67. The firm has a 50 day moving average of $53.49 and a 200-day moving average of $57.49. General Mills, Inc. has a 12 month low of $49.86 and a 12 month high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. The firm had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.60 billion. General Mills had a return on equity of 24.88% and a net margin of 11.78%. The business's revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 EPS. Research analysts expect that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Thursday, July 10th. This is a boost from General Mills's previous quarterly dividend of $0.60. General Mills's dividend payout ratio is currently 59.51%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GIS shares. JPMorgan Chase & Co. reduced their price objective on shares of General Mills from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. Royal Bank Of Canada upgraded shares of General Mills from a "sector perform" rating to an "outperform" rating and reduced their price objective for the company from $67.00 to $63.00 in a report on Thursday, June 26th. Mizuho decreased their price target on General Mills from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. Citigroup decreased their price target on General Mills from $60.00 to $58.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Finally, The Goldman Sachs Group downgraded General Mills from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $68.00 to $58.00 in a report on Monday, June 9th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $59.73.

About General Mills

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.