Nordea Investment Management AB Raises Holdings in General Mills, Inc. (NYSE:GIS)

Nordea Investment Management AB boosted its stake in General Mills, Inc. (NYSE:GIS) by 7.4% during the second quarter, Holdings Channel.com reports. The firm owned 3,397,496 shares of the company’s stock after buying an additional 235,307 shares during the period. Nordea Investment Management AB’s holdings in General Mills were worth $260,962,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GIS. Disciplined Investments LLC grew its stake in shares of General Mills by 245.9% in the first quarter. Disciplined Investments LLC now owns 294 shares of the company’s stock worth $25,000 after purchasing an additional 209 shares during the last quarter. FWL Investment Management LLC purchased a new position in shares of General Mills during the fourth quarter valued at approximately $25,000. Almanack Investment Partners LLC. purchased a new stake in General Mills in the third quarter worth $28,000. AXS Investments LLC bought a new stake in General Mills in the fourth quarter valued at $30,000. Finally, Pacific Center for Financial Services purchased a new position in General Mills during the 1st quarter valued at $39,000. Institutional investors own 75.31% of the company’s stock.

General Mills Trading Down 0.1 %

Shares of NYSE:GIS traded down $0.06 on Friday, hitting $66.30. 854,139 shares of the company’s stock were exchanged, compared to its average volume of 3,470,741. The stock has a market capitalization of $38.53 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 2.17 and a beta of 0.24. General Mills, Inc. has a 12 month low of $64.70 and a 12 month high of $90.89. The business’s 50 day simple moving average is $71.42 and its two-hundred day simple moving average is $79.56. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.69 and a quick ratio of 0.40.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, June 28th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.05. General Mills had a net margin of 12.91% and a return on equity of 24.47%. The business had revenue of $5.03 billion for the quarter, compared to analyst estimates of $5.18 billion. During the same period last year, the company posted $1.12 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Analysts anticipate that General Mills, Inc. will post 4.49 EPS for the current fiscal year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a dividend of $0.59 per share. This is an increase from General Mills’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Friday, July 7th. This represents a $2.36 dividend on an annualized basis and a yield of 3.56%. General Mills’s dividend payout ratio (DPR) is 54.76%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GIS shares. Stifel Nicolaus decreased their price target on shares of General Mills from $86.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, September 7th. Morgan Stanley lowered their target price on shares of General Mills from $77.00 to $72.00 in a report on Thursday, June 29th. Piper Sandler lowered their price objective on General Mills from $95.00 to $88.00 in a research note on Thursday, June 29th. Bank of America lowered their price target on General Mills from $82.00 to $72.00 and set a “neutral” rating for the company in a research report on Wednesday, August 23rd. Finally, Wells Fargo & Company cut their price objective on shares of General Mills from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 7th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $78.79.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.