General Mills, Inc. (NYSE:GIS) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its stake in shares of General Mills, Inc. (NYSE:GIS) by 7.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 29,815 shares of the company’s stock after selling 2,398 shares during the period. Maryland State Retirement & Pension System’s holdings in General Mills were worth $1,901,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GIS. Endeavor Private Wealth Inc. acquired a new stake in shares of General Mills in the fourth quarter worth $26,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of General Mills in the fourth quarter worth $30,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of General Mills in the fourth quarter worth $31,000. Bank of Jackson Hole Trust acquired a new stake in shares of General Mills in the fourth quarter worth $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of General Mills in the fourth quarter worth $38,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Transactions at General Mills

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the transaction, the chief executive officer now directly owns 353,346 shares in the company, valued at approximately $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on GIS shares. Mizuho decreased their target price on General Mills from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday. Bank of America decreased their target price on General Mills from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday. TD Cowen cut their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft cut their price objective on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, December 18th. Finally, Piper Sandler cut their price objective on General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $66.53.

General Mills Price Performance

NYSE GIS opened at $58.78 on Friday. General Mills, Inc. has a fifty-two week low of $55.15 and a fifty-two week high of $75.90. The stock’s 50-day moving average is $60.00 and its two-hundred day moving average is $65.28. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The firm has a market cap of $32.40 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06.

General Mills (NYSE:GIS) last posted its 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. The company 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 business’s revenue was down 5.1% compared to the same quarter last year. During the same period last year, the company earned $1.17 earnings per share. On average, analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.08%. General Mills’s 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.