Daiwa Securities Group Inc. Buys 6,575 Shares of General Mills, Inc. (NYSE:GIS)

Daiwa Securities Group Inc. increased its position in shares of General Mills, Inc. (NYSE:GIS) by 10.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,110 shares of the company’s stock after buying an additional 6,575 shares during the period. Daiwa Securities Group Inc.’s holdings in General Mills were worth $5,030,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GIS. Values First Advisors Inc. bought a new stake in shares of General Mills in the 3rd quarter valued at about $27,000. First Foundation Advisors lifted its position in shares of General Mills by 400.0% in the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after buying an additional 400 shares during the last quarter. Planning Capital Management Corp increased its holdings in shares of General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after acquiring an additional 193 shares during the last quarter. TruNorth Capital Management LLC bought a new stake in General Mills in the 2nd quarter valued at $38,000. Finally, Beacon Capital Management LLC lifted its holdings in General Mills by 47.5% during the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock valued at $39,000 after purchasing an additional 180 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

General Mills Stock Performance

NYSE:GIS opened at $66.02 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a 1-year low of $61.47 and a 1-year high of $75.90. The stock’s 50-day moving average is $69.29 and its 200-day moving average is $68.55. The stock has a market cap of $36.65 billion, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 3.38 and a beta of 0.11.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 EPS. Equities research analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.64%. General Mills’s payout ratio is currently 57.14%.

Insider Buying and Selling at General Mills

In other General Mills news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the transaction, the insider now owns 128,664 shares in the company, valued at approximately $9,571,314.96. The trade was a 6.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the sale, the insider now directly owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,555 shares of company stock valued at $4,721,336. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GIS shares. JPMorgan Chase & Co. upped their price objective on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Barclays increased their price target on shares of General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. The Goldman Sachs Group assumed coverage on General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 price objective for the company. Bank of America increased their target price on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $72.67.

General Mills Company 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.