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

California Public Employees Retirement System reduced its position in General Mills, Inc. (NYSE:GIS - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,362,017 shares of the company's stock after selling 45,599 shares during the quarter. California Public Employees Retirement System owned approximately 0.61% of General Mills worth $214,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Endeavor Private Wealth Inc. bought a new position in General Mills in the 4th quarter worth $26,000. CBIZ Investment Advisory Services LLC bought a new stake in General Mills during the 4th quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in General Mills during the 4th quarter valued at approximately $31,000. VSM Wealth Advisory LLC bought a new position in General Mills in the 4th quarter worth approximately $32,000. Finally, Bank of Jackson Hole Trust purchased a new stake in General Mills during the 4th quarter valued at approximately $34,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GIS. Jefferies Financial Group raised their price objective on General Mills from $58.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, March 10th. Mizuho reduced their price objective on General Mills from $62.00 to $60.00 and set a "neutral" rating on the stock in a research note on Thursday, March 20th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $70.00 price objective on shares of General Mills in a report on Monday, March 17th. Barclays cut their target price on shares of General Mills from $68.00 to $65.00 and set an "equal weight" rating for the company in a report on Tuesday, March 18th. Finally, Piper Sandler decreased their price target on shares of General Mills from $84.00 to $71.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $65.69.

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General Mills Stock Up 2.9 %

Shares of GIS traded up $1.73 during mid-day trading on Thursday, hitting $60.92. 4,971,431 shares of the company traded hands, compared to its average volume of 4,324,475. General Mills, Inc. has a 1-year low of $55.15 and a 1-year high of $75.90. The business has a 50 day moving average of $59.96 and a 200 day moving average of $64.39. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $33.58 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06.

General Mills (NYSE:GIS - Get Free Report) last announced its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.04. The business had revenue of $4.84 billion for 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%. The company's revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.17 earnings per share. Equities research analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.94%. The ex-dividend date is Thursday, April 10th. General Mills's payout ratio is 52.75%.

Insider Buying and Selling 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 completion of the transaction, the chief executive officer now directly owns 353,346 shares of the company's stock, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.26% of the company's stock.

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.