State of New Jersey Common Pension Fund D Sells 10,413 Shares of General Mills, Inc. (NYSE:GIS)

State of New Jersey Common Pension Fund D trimmed its position in General Mills, Inc. (NYSE:GIS - Free Report) by 5.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,126 shares of the company's stock after selling 10,413 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in General Mills were worth $12,634,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIS. Endeavor Private Wealth Inc. purchased a new stake in General Mills in the 4th quarter worth approximately $26,000. Values First Advisors Inc. purchased a new stake in General Mills in the 3rd quarter worth approximately $27,000. Planning Capital Management Corp increased its holdings in General Mills by 61.5% in the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company's stock worth $37,000 after acquiring an additional 193 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in General Mills in the 4th quarter worth approximately $38,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in General Mills in the 3rd quarter worth approximately $44,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the firm's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the completion of the sale, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GIS has been the subject of several analyst reports. Mizuho reduced their target price on shares of General Mills from $72.00 to $65.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Barclays cut their price objective on shares of General Mills from $74.00 to $68.00 and set an "equal weight" rating for the company in a report on Friday, December 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 Thursday, December 19th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Mills from $83.00 to $82.00 and set a "hold" rating for the company in a report on Wednesday, December 18th. Finally, Wells Fargo & Company cut their price objective on shares of General Mills from $64.00 to $61.00 and set an "equal weight" rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, General Mills currently has an average rating of "Hold" and an average price target of $69.88.

General Mills Price Performance

Shares of GIS stock traded up $1.83 on Friday, reaching $61.02. The company's stock had a trading volume of 5,218,456 shares, compared to its average volume of 4,668,790. The stock's fifty day simple moving average is $60.89 and its 200-day simple moving average is $66.56. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $33.63 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 3.76 and a beta of 0.10.

General Mills (NYSE:GIS - Get Free Report) last posted its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.18. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. General Mills's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. Analysts forecast that General Mills, Inc. will post 4.38 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.93%. General Mills's dividend payout ratio is presently 52.17%.

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.