General Mills, Inc. (GIS) Stake Lessened by Louisiana State Employees Retirement System
Louisiana State Employees Retirement System decreased its position in General Mills, Inc. (NYSE:GIS) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,400 shares of the company’s stock after selling 1,600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in General Mills were worth $2,040,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Advisor Group LLC grew its position in General Mills by 21.8% during the second quarter. Private Advisor Group LLC now owns 55,573 shares of the company’s stock valued at $2,968,000 after buying an additional 9,952 shares during the period. LVW Advisors LLC bought a new position in General Mills during the second quarter valued at about $2,515,000. Captrust Financial Advisors bought a new position in General Mills during the second quarter valued at about $693,000. AXA grew its position in General Mills by 8.5% during the second quarter. AXA now owns 1,030,200 shares of the company’s stock valued at $57,073,000 after buying an additional 81,000 shares during the period. Finally, 1st Global Advisors Inc. bought a new position in General Mills during the second quarter valued at about $2,600,000. Hedge funds and other institutional investors own 72.58% of the company’s stock.
In other news, insider Bethany C. Quam sold 8,712 shares of the stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total value of $517,492.80. Following the sale, the insider now directly owns 36,089 shares of the company’s stock, valued at $2,143,686.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.40% of the company’s stock.
Several equities analysts recently weighed in on the stock. Bank of America reduced their price target on shares of General Mills from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, September 21st. Citigroup restated a “buy” rating and set a $67.00 price target on shares of General Mills in a research report on Thursday, September 21st. Susquehanna Bancshares set a $56.00 price target on shares of General Mills and gave the company a “hold” rating in a research report on Tuesday, October 17th. Credit Suisse Group restated a “neutral” rating and set a $53.00 price target on shares of General Mills in a research report on Monday, September 25th. Finally, Morgan Stanley restated an “equal weight” rating and set a $52.00 price target (down previously from $55.00) on shares of General Mills in a research report on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the stock. General Mills presently has a consensus rating of “Hold” and an average price target of $58.17.
Shares of General Mills, Inc. (NYSE GIS) opened at $58.66 on Friday. The company has a market cap of $33,641.87, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.61 and a beta of 0.66. General Mills, Inc. has a fifty-two week low of $49.65 and a fifty-two week high of $63.73. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.79.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.82. The business had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.08 billion. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 earnings per share. equities research analysts anticipate that General Mills, Inc. will post 3.12 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Tuesday, January 9th. General Mills’s payout ratio is 71.79%.
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General Mills Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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