General Mills, Inc. (NYSE:GIS) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 124,078 shares of the company’s stock after selling 12,219 shares during the quarter. State of Tennessee Department of Treasury’s holdings in General Mills were worth $7,912,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. RFG Advisory LLC raised its stake in shares of General Mills by 2.6% during the 4th quarter. RFG Advisory LLC now owns 6,668 shares of the company’s stock worth $425,000 after buying an additional 172 shares in the last quarter. TCW Group Inc. lifted its holdings in General Mills by 0.8% in the fourth quarter. TCW Group Inc. now owns 23,061 shares of the company’s stock valued at $1,471,000 after acquiring an additional 194 shares during the period. Quadrant Private Wealth Management LLC boosted its position in shares of General Mills by 3.7% during the 4th quarter. Quadrant Private Wealth Management LLC now owns 5,579 shares of the company’s stock worth $356,000 after purchasing an additional 197 shares in the last quarter. Howard Capital Management Inc. grew its stake in shares of General Mills by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 3,916 shares of the company’s stock worth $250,000 after purchasing an additional 198 shares during the period. Finally, Byrne Asset Management LLC increased its holdings in shares of General Mills by 20.0% in the 4th quarter. Byrne Asset Management LLC now owns 1,200 shares of the company’s stock valued at $77,000 after purchasing an additional 200 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Down 1.6 %

GIS stock opened at $56.36 on Friday. The company has a 50 day moving average price of $59.35 and a two-hundred day moving average price of $62.51. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The stock has a market capitalization of $31.07 billion, a P/E ratio of 12.25, a PEG ratio of 1.94 and a beta of 0.15. General Mills, Inc. has a one year low of $55.15 and a one year high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the business earned $1.17 earnings per share. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, sell-side analysts expect that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a dividend yield of 4.26%. General Mills’s payout ratio is currently 52.75%.

Wall Street Analyst Weigh In

A number of analysts recently commented on GIS shares. Morgan Stanley initiated coverage on shares of General Mills in a report on Monday, March 24th. They set an “underweight” rating and a $53.00 price objective on the stock. Piper Sandler decreased their price target on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Barclays dropped their price objective on General Mills from $68.00 to $65.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 18th. Jefferies Financial Group upped their target price on General Mills from $58.00 to $62.00 and gave the company a “hold” rating in a report on Monday, March 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $65.00.

Insider Buying and Selling

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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.