California State Teachers Retirement System Has $58.20 Million Stake in General Mills, Inc. (GIS)
California State Teachers Retirement System decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 981,687 shares of the company’s stock after selling 25,321 shares during the period. California State Teachers Retirement System’s holdings in General Mills were worth $58,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. grew its stake in shares of General Mills by 15.9% during the 3rd quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock worth $584,665,000 after purchasing an additional 1,550,074 shares during the period. American International Group Inc. grew its stake in shares of General Mills by 10.3% during the 4th quarter. American International Group Inc. now owns 9,960,631 shares of the company’s stock worth $590,566,000 after purchasing an additional 932,891 shares during the period. Bank of New York Mellon Corp grew its stake in shares of General Mills by 13.5% during the 4th quarter. Bank of New York Mellon Corp now owns 8,499,301 shares of the company’s stock worth $503,923,000 after purchasing an additional 1,009,126 shares during the period. Geode Capital Management LLC grew its stake in shares of General Mills by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,261,796 shares of the company’s stock worth $370,514,000 after purchasing an additional 146,687 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of General Mills by 3.8% during the 3rd quarter. Legal & General Group Plc now owns 3,526,158 shares of the company’s stock worth $182,549,000 after purchasing an additional 130,606 shares during the period. 74.34% of the stock is currently owned by institutional investors and hedge funds.
General Mills, Inc. (GIS) opened at $51.99 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $29,580.00, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 2.13 and a beta of 0.72. General Mills, Inc. has a fifty-two week low of $49.65 and a fifty-two week high of $61.34.
General Mills declared that its Board of Directors has authorized a share repurchase plan on Friday, February 23rd that permits the company to repurchase outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
GIS has been the topic of a number of analyst reports. Jefferies Group raised shares of General Mills from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Wednesday, February 14th. Wells Fargo & Co raised shares of General Mills from a “market perform” rating to an “outperform” rating and set a $63.00 price target on the stock in a research note on Monday, December 18th. Zacks Investment Research cut shares of General Mills from a “hold” rating to a “sell” rating in a research note on Tuesday, November 21st. Argus reissued a “hold” rating on shares of General Mills in a research note on Wednesday, December 27th. Finally, Credit Suisse Group set a $62.00 price target on shares of General Mills and gave the company a “hold” rating in a research note on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $57.64.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total value of $517,492.80. Following the transaction, the insider now owns 36,089 shares in the company, valued at approximately $2,143,686.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.40% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This piece was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another domain, it was stolen and reposted in violation of international trademark & copyright laws. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2018/03/14/california-state-teachers-retirement-system-has-58-20-million-stake-in-general-mills-inc-gis.html.
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.
Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS).
Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.