State of Alaska Department of Revenue Reduces Stock Holdings in General Mills, Inc. (NYSE:GIS)

State of Alaska Department of Revenue decreased its stake in General Mills, Inc. (NYSE:GISFree Report) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 61,604 shares of the company’s stock after selling 1,165 shares during the quarter. State of Alaska Department of Revenue’s holdings in General Mills were worth $4,310,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GIS. JPMorgan Chase & Co. boosted its holdings in shares of General Mills by 17.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,220,646 shares of the company’s stock worth $142,099,000 after purchasing an additional 328,585 shares during the period. Sei Investments Co. lifted its stake in shares of General Mills by 9.2% during the 3rd quarter. Sei Investments Co. now owns 253,379 shares of the company’s stock worth $16,215,000 after acquiring an additional 21,299 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in shares of General Mills by 6.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 244,523 shares of the company’s stock worth $15,648,000 after acquiring an additional 15,707 shares during the last quarter. Baker Avenue Asset Management LP lifted its stake in shares of General Mills by 533.6% during the 3rd quarter. Baker Avenue Asset Management LP now owns 830 shares of the company’s stock worth $53,000 after acquiring an additional 699 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of General Mills by 2.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 417,791 shares of the company’s stock worth $26,734,000 after acquiring an additional 9,167 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In related news, insider Werner Lanette Shaffer sold 710 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $70.57, for a total transaction of $50,104.70. Following the transaction, the insider now directly owns 17,397 shares in the company, valued at approximately $1,227,706.29. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.24% of the stock is owned by company insiders.

General Mills Trading Down 0.1 %

Shares of NYSE:GIS opened at $63.08 on Friday. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $77.63. The business’s fifty day simple moving average is $68.03 and its 200-day simple moving average is $66.68. The company has a market capitalization of $35.21 billion, a PE ratio of 14.64, a P/E/G ratio of 3.56 and a beta of 0.09. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GISGet Free Report) last announced its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The business had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period last year, the business posted $1.12 EPS. The business’s revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts predict that General Mills, Inc. will post 4.5 earnings per share for the current fiscal year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.80%. This is an increase from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, July 10th. General Mills’s payout ratio is 54.76%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GIS shares. Wells Fargo & Company decreased their price target on General Mills from $70.00 to $67.00 and set an “equal weight” rating for the company in a research note on Thursday, June 27th. Citigroup decreased their price target on General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Evercore ISI decreased their price target on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research note on Friday, June 28th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Thursday, June 27th. Finally, Barclays decreased their target price on General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $70.00.

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General Mills Profile

(Free Report)

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.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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