Teachers Retirement System of The State of Kentucky Decreases Holdings in General Mills, Inc. (NYSE:GIS)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 6.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,483 shares of the company’s stock after selling 3,063 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in General Mills were worth $3,137,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Values First Advisors Inc. purchased a new stake in General Mills during the 3rd quarter worth approximately $27,000. First Foundation Advisors increased its position in shares of General Mills by 400.0% during the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares in the last quarter. Planning Capital Management Corp raised its stake in General Mills by 61.5% in the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after purchasing an additional 193 shares during the last quarter. Fairscale Capital LLC purchased a new position in General Mills in the 2nd quarter valued at $42,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in General Mills during the 3rd quarter worth $44,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GIS. Citigroup increased their target price on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Piper Sandler increased their price objective on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a report on Thursday, September 19th. TD Cowen increased their price target on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a report on Friday, September 20th. Finally, Barclays boosted their price objective on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $73.00.

General Mills Stock Up 0.9 %

Shares of GIS opened at $66.69 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The firm has a market cap of $37.02 billion, a P/E ratio of 15.88, a price-to-earnings-growth ratio of 3.41 and a beta of 0.10. The company’s 50-day moving average price is $67.20 and its 200 day moving average price is $68.21. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the business posted $1.09 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, sell-side analysts forecast that General Mills, Inc. will post 4.5 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.60%. General Mills’s dividend payout ratio is presently 57.14%.

Insider Buying and Selling

In related news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the sale, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the transaction, the insider now owns 128,664 shares in the company, valued at $9,571,314.96. This trade represents a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,555 shares of company stock valued at $4,721,336. Corporate insiders own 0.26% of the company’s stock.

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.