General Mills, Inc. (NYSE:GIS) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its holdings in General Mills, Inc. (NYSE:GIS) by 0.6% during the 4th quarter, Holdings Channel reports. The firm owned 150,702 shares of the company’s stock after selling 900 shares during the quarter. State of Michigan Retirement System’s holdings in General Mills were worth $9,610,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in GIS. Endeavor Private Wealth Inc. purchased a new position in shares of General Mills during the 4th quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in General Mills during the fourth quarter valued at $31,000. Planning Capital Management Corp grew its position in shares of General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after purchasing an additional 193 shares during the period. Bank of Jackson Hole Trust purchased a new stake in shares of General Mills during the fourth quarter worth about $34,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of General Mills during the third quarter worth about $44,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Down 0.3 %

Shares of NYSE GIS opened at $60.96 on Thursday. The company has a market capitalization of $33.60 billion, a P/E ratio of 13.25, a P/E/G ratio of 1.94 and a beta of 0.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The company has a 50 day simple moving average of $60.35 and a 200-day simple moving average of $66.09. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.94%. General Mills’s payout ratio is currently 52.17%.

Insiders Place Their Bets

In other news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the transaction, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. This represents a 2.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays lowered their price objective on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company decreased their target price on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. TD Cowen dropped their price target on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Mizuho decreased their price objective on General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 target price on shares of General Mills in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $69.06.

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.