State of Michigan Retirement System Has $10.36 Million Stock Position in General Mills, Inc. (NYSE:GIS)

State of Michigan Retirement System cut its position in shares of General Mills, Inc. (NYSE:GISFree Report) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,102 shares of the company’s stock after selling 1,300 shares during the quarter. State of Michigan Retirement System’s holdings in General Mills were worth $10,364,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GIS. Cibc World Market Inc. increased its position in shares of General Mills by 4.8% during the first quarter. Cibc World Market Inc. now owns 22,026 shares of the company’s stock worth $1,492,000 after buying an additional 1,003 shares during the period. Sequoia Financial Advisors LLC grew its holdings in General Mills by 45.3% in the first quarter. Sequoia Financial Advisors LLC now owns 5,867 shares of the company’s stock worth $397,000 after purchasing an additional 1,828 shares during the period. Candriam Luxembourg S.C.A. grew its holdings in General Mills by 2.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 73,176 shares of the company’s stock worth $4,955,000 after purchasing an additional 1,503 shares during the period. Baird Financial Group Inc. grew its holdings in General Mills by 2.3% in the first quarter. Baird Financial Group Inc. now owns 279,604 shares of the company’s stock worth $18,935,000 after purchasing an additional 6,176 shares during the period. Finally, Covestor Ltd lifted its stake in shares of General Mills by 15.3% in the first quarter. Covestor Ltd now owns 1,834 shares of the company’s stock valued at $124,000 after buying an additional 244 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Mills

In related news, CEO Jeffrey L. Harmening sold 60,056 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the completion of the transaction, the chief executive officer now owns 318,483 shares of the company’s stock, valued at $20,523,044.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Jeffrey L. Harmening sold 60,056 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the completion of the transaction, the chief executive officer now owns 318,483 shares of the company’s stock, valued at $20,523,044.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jonathon Nudi sold 7,671 shares of General Mills stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $64.15, for a total transaction of $492,094.65. Following the sale, the insider now owns 102,924 shares of the company’s stock, valued at $6,602,574.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,782 shares of company stock valued at $5,057,820. Corporate insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Bank of America raised their price objective on shares of General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Piper Sandler dropped their price objective on shares of General Mills from $77.00 to $76.00 and set an “overweight” rating on the stock in a research note on Friday, December 15th. Citigroup assumed coverage on shares of General Mills in a research note on Thursday, February 1st. They issued a “neutral” rating and a $67.00 price objective on the stock. Barclays raised their price objective on shares of General Mills from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, March 22nd. Finally, Mizuho raised their price objective on shares of General Mills from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $72.18.

Read Our Latest Analysis on General Mills

General Mills Stock Performance

NYSE GIS opened at $70.57 on Wednesday. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $90.89. The company has a 50-day simple moving average of $65.55 and a 200 day simple moving average of $64.91. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.66. The company has a market capitalization of $40.08 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 2.42 and a beta of 0.15.

General Mills (NYSE:GISGet Free Report) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter last year, the company posted $0.97 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. On average, research analysts predict that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.36 annualized dividend and a yield of 3.34%. General Mills’s dividend payout ratio is currently 54.13%.

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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