Treasurer of the State of North Carolina Grows Stake in General Mills, Inc. (NYSE:GIS)

Treasurer of the State of North Carolina raised its position in General Mills, Inc. (NYSE:GIS - Free Report) by 4.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 376,142 shares of the company's stock after purchasing an additional 15,700 shares during the period. Treasurer of the State of North Carolina owned 0.07% of General Mills worth $23,987,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of GIS. Gladstone Institutional Advisory LLC increased its holdings in General Mills by 6.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company's stock worth $304,000 after acquiring an additional 268 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of General Mills by 11.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 834,417 shares of the company's stock worth $53,211,000 after acquiring an additional 85,612 shares during the period. JPMorgan Chase & Co. grew its holdings in General Mills by 105.2% in the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock worth $421,552,000 after purchasing an additional 2,926,232 shares during the period. Franklin Resources Inc. increased its position in shares of General Mills by 10.6% during the fourth quarter. Franklin Resources Inc. now owns 484,550 shares of the company's stock valued at $30,900,000 after acquiring an additional 46,536 shares in the last quarter. Finally, J2 Capital Management Inc purchased a new stake in General Mills in the fourth quarter worth approximately $547,000. Institutional investors and hedge funds own 75.71% of the company's stock.

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Insider Activity

In related news, CEO Jeffrey L. Harmening sold 11,379 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the sale, the chief executive officer now owns 353,346 shares of the company's stock, valued at $22,967,490. This trade represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.26% of the company's stock.

General Mills Trading Down 0.4 %

Shares of NYSE GIS traded down $0.26 during midday trading on Wednesday, reaching $57.59. The company had a trading volume of 1,315,791 shares, compared to its average volume of 4,391,728. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a one year low of $55.15 and a one year high of $75.90. The firm's fifty day moving average price is $59.57 and its 200-day moving average price is $63.22. The stock has a market cap of $31.75 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.94 and a beta of 0.15.

General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the company earned $1.17 earnings per share. The company's revenue was down 5.1% on a year-over-year basis. On average, equities research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date is Thursday, April 10th. General Mills's payout ratio is 52.75%.

Analyst Ratings Changes

Several research firms recently weighed in on GIS. Piper Sandler cut their target price on shares of General Mills from $84.00 to $71.00 and set an "overweight" rating for the company in a research note on Tuesday, February 25th. Mizuho dropped their price objective on shares of General Mills from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Thursday, March 20th. Jefferies Financial Group lifted their target price on shares of General Mills from $58.00 to $62.00 and gave the stock a "hold" rating in a research note on Monday, March 10th. Royal Bank of Canada reissued a "sector perform" rating and set a $70.00 price target on shares of General Mills in a research report on Monday, March 17th. Finally, Bank of America lowered their target price on shares of General Mills from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. 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 company. Based on data from MarketBeat, General Mills presently has a consensus rating of "Hold" and an average target price 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.