General Mills, Inc. (NYSE:GIS) Position Trimmed by California Public Employees Retirement System

California Public Employees Retirement System trimmed its stake in General Mills, Inc. (NYSE:GIS) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,362,017 shares of the company’s stock after selling 45,599 shares during the quarter. California Public Employees Retirement System’s holdings in General Mills were worth $214,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. RFG Advisory LLC lifted its position in General Mills by 2.6% during the 4th quarter. RFG Advisory LLC now owns 6,668 shares of the company’s stock worth $425,000 after buying an additional 172 shares in the last quarter. TCW Group Inc. raised its stake in shares of General Mills by 0.8% in the fourth quarter. TCW Group Inc. now owns 23,061 shares of the company’s stock worth $1,471,000 after acquiring an additional 194 shares during the last quarter. Quadrant Private Wealth Management LLC raised its stake in shares of General Mills by 3.7% in the fourth quarter. Quadrant Private Wealth Management LLC now owns 5,579 shares of the company’s stock worth $356,000 after acquiring an additional 197 shares during the last quarter. Howard Capital Management Inc. grew its stake in shares of General Mills by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 3,916 shares of the company’s stock valued at $250,000 after purchasing an additional 198 shares during the last quarter. Finally, LRI Investments LLC increased its holdings in shares of General Mills by 5.9% in the third quarter. LRI Investments LLC now owns 3,593 shares of the company’s stock valued at $265,000 after purchasing an additional 200 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

General Mills Stock Down 1.0 %

NYSE:GIS opened at $59.09 on Monday. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90. The stock has a 50-day moving average price of $59.97 and a two-hundred day moving average price of $64.61. The stock has a market cap of $32.57 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.94 and a beta of 0.06. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.04. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. General Mills’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.17 EPS. As a group, equities analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.06%. General Mills’s payout ratio is 52.75%.

Insider Activity at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the sale, the chief executive officer now owns 353,346 shares in the company, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Jefferies Financial Group upped their price objective on General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Bank of America cut their price target on General Mills from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price objective on shares of General Mills in a research report on Monday, March 17th. Piper Sandler cut their target price on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company lowered their price target on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $65.69.

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 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.