General Mills, Inc. (GIS) Shares Sold by New York State Teachers Retirement System
New York State Teachers Retirement System decreased its stake in General Mills, Inc. (NYSE:GIS) by 4.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 931,233 shares of the company’s stock after selling 41,905 shares during the period. New York State Teachers Retirement System owned approximately 0.16% of General Mills worth $54,952,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in GIS. Commonwealth Financial Services LLC increased its position in shares of General Mills by 1,239.8% in the first quarter. Commonwealth Financial Services LLC now owns 2,224 shares of the company’s stock valued at $130,000 after buying an additional 2,058 shares during the period. Hanson McClain Inc. increased its position in shares of General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock valued at $138,000 after buying an additional 35 shares during the period. Assetmark Inc. increased its position in shares of General Mills by 11.2% in the first quarter. Assetmark Inc. now owns 2,506 shares of the company’s stock valued at $148,000 after buying an additional 253 shares during the period. Advisory Services Network LLC bought a new position in shares of General Mills during the first quarter valued at about $179,000. Finally, Fort Pitt Capital Group LLC bought a new position in shares of General Mills during the first quarter valued at about $210,000. Institutional investors own 69.46% of the company’s stock.
Shares of General Mills, Inc. (GIS) traded down 1.18% during mid-day trading on Monday, reaching $54.37. 812,549 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $55.47 and a 200-day moving average price of $57.57. The stock has a market cap of $31.38 billion, a PE ratio of 19.63 and a beta of 0.61. General Mills, Inc. has a one year low of $53.24 and a one year high of $71.68.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.75 billion. General Mills had a net margin of 10.61% and a return on equity of 38.97%. The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the business earned $0.66 EPS. On average, analysts predict that General Mills, Inc. will post $3.11 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.56%. The ex-dividend date was Thursday, July 6th. This is an increase from General Mills’s previous quarterly dividend of $0.48. General Mills’s dividend payout ratio (DPR) is currently 70.76%.
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Several research analysts have recently issued reports on GIS shares. Vetr upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $58.98 price target for the company in a report on Monday, May 1st. BidaskClub upgraded shares of General Mills from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Morgan Stanley reiterated an “equal weight” rating and set a $55.00 price target (down from $58.00) on shares of General Mills in a report on Sunday, June 25th. BMO Capital Markets reiterated a “hold” rating and set a $67.00 price target on shares of General Mills in a report on Thursday, June 15th. Finally, Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $59.93.
About General Mills
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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