New York State Common Retirement Fund Sells 115,057 Shares of General Mills, Inc. (NYSE:GIS)

New York State Common Retirement Fund trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 18.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 520,041 shares of the company’s stock after selling 115,057 shares during the period. New York State Common Retirement Fund’s holdings in General Mills were worth $38,405,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GIS. Norden Group LLC bought a new position in General Mills during the 1st quarter valued at approximately $308,000. Diversify Advisory Services LLC purchased a new position in shares of General Mills in the 1st quarter worth about $625,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in General Mills by 13.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 177,591 shares of the company’s stock worth $12,426,000 after purchasing an additional 21,683 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in General Mills by 1.0% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 26,689 shares of the company’s stock worth $1,867,000 after purchasing an additional 261 shares in the last quarter. Finally, BNP Paribas bought a new stake in General Mills during the 1st quarter valued at about $659,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Stock Performance

Shares of NYSE GIS opened at $68.24 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90. The firm has a market capitalization of $37.88 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 3.50 and a beta of 0.11. The firm has a 50 day moving average of $72.09 and a 200 day moving average of $69.19.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, research analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Thursday, October 10th. General Mills’s dividend payout ratio (DPR) is currently 57.14%.

Insider Activity

In related news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the sale, the insider now directly owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction on Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the transaction, the insider now owns 128,664 shares in the company, valued at approximately $9,571,314.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the sale, the chief executive officer now owns 355,328 shares of the company’s stock, valued at $24,379,054.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,555 shares of company stock valued at $4,657,676 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GIS. Citigroup upped their target price on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Piper Sandler increased their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Argus restated a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. lifted their price objective on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $73.00.

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.