California Public Employees Retirement System Trims Holdings in General Mills, Inc. $GIS

California Public Employees Retirement System decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 16.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,161,935 shares of the company’s stock after selling 232,415 shares during the quarter. California Public Employees Retirement System’s holdings in General Mills were worth $43,247,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Reflection Asset Management purchased a new position in General Mills during the 4th quarter worth approximately $25,000. Nalls Sherbakoff Group LLC acquired a new stake in General Mills during the 4th quarter valued at approximately $26,000. Brown Shipley& Co Ltd purchased a new stake in shares of General Mills in the 1st quarter valued at $26,000. Bruce G. Allen Investments LLC boosted its holdings in shares of General Mills by 139.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock valued at $27,000 after acquiring an additional 337 shares during the last quarter. Finally, Main Street Group LTD acquired a new stake in shares of General Mills in the first quarter worth $27,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GIS. Stifel Nicolaus reduced their target price on shares of General Mills from $44.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. UBS Group set a $33.00 price target on shares of General Mills in a report on Monday, July 6th. Weiss Ratings raised General Mills from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. lifted their price objective on General Mills from $31.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, July 2nd. Finally, Morgan Stanley decreased their price objective on General Mills from $37.00 to $32.00 and set an “underweight” rating for the company in a report on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, General Mills has an average rating of “Reduce” and an average price target of $39.16.

Insider Transactions at General Mills

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total transaction of $342,700.00. Following the sale, the insider directly owned 86,002 shares of the company’s stock, valued at $2,947,288.54. This represents a 10.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ricardo Fernandez sold 7,995 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total value of $275,827.50. Following the sale, the insider owned 62,283 shares in the company, valued at $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.30% of the company’s stock.

General Mills Price Performance

NYSE:GIS opened at $37.64 on Tuesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. The firm has a market cap of $20.09 billion, a price-to-earnings ratio of -209.11 and a beta of -0.03. The company has a 50 day moving average price of $34.73 and a 200-day moving average price of $38.94. General Mills, Inc. has a 1-year low of $31.75 and a 1-year high of $51.68.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.15. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.59 billion. During the same period in the previous year, the business posted $0.53 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. Equities research analysts forecast that General Mills, Inc. will post 3.07 EPS for the current year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a $0.61 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 6.5%. General Mills’s dividend payout ratio is -1,355.56%.

General Mills Company Profile

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.