Teachers Retirement System of The State of Kentucky reduced its stake in shares of General Mills, Inc. (NYSE:GIS) by 11.0% during the first quarter, Holdings Channel reports. The firm owned 65,700 shares of the company’s stock after selling 8,100 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in General Mills were worth $3,877,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in the stock. Piershale Financial Group Inc. boosted its position in shares of General Mills by 0.8% in the first quarter. Piershale Financial Group Inc. now owns 4,425 shares of the company’s stock valued at $261,000 after buying an additional 34 shares during the period. Sfmg LLC boosted its position in shares of General Mills by 0.7% in the first quarter. Sfmg LLC now owns 4,814 shares of the company’s stock valued at $284,000 after buying an additional 34 shares during the period. Hanson McClain Inc. boosted 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. Smith Salley & Associates boosted its position in shares of General Mills by 0.8% in the first quarter. Smith Salley & Associates now owns 5,540 shares of the company’s stock valued at $327,000 after buying an additional 42 shares during the period. Finally, Wellington Shields & Co. LLC boosted its position in shares of General Mills by 0.6% in the first quarter. Wellington Shields & Co. LLC now owns 8,113 shares of the company’s stock valued at $479,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 71.46% of the company’s stock.
General Mills, Inc. (NYSE GIS) traded up 0.252% during midday trading on Thursday, reaching $57.675. 597,699 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $55.14 and a 200 day moving average price of $57.81. The company has a market cap of $33.28 billion, a price-to-earnings ratio of 20.821 and a beta of 0.61. General Mills, Inc. has a 12-month low of $53.24 and a 12-month high of $71.96.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. General Mills had a net margin of 10.61% and a return on equity of 38.97%. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same period last year, the firm posted $0.66 EPS. The company’s revenue was down 3.1% on a year-over-year basis. On average, analysts expect that General Mills, Inc. will post $3.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a dividend of $0.49 per share. This is a positive change from General Mills’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Thursday, July 6th. General Mills’s dividend payout ratio (DPR) is 70.76%.
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Several brokerages have issued reports on GIS. 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 research report on Monday, May 1st. Zacks Investment Research cut shares of General Mills from a “hold” rating to a “sell” rating in a research report on Monday, June 19th. UBS AG restated a “neutral” rating and issued a $61.00 price target (down from $63.00) on shares of General Mills in a research report on Wednesday, June 21st. Piper Jaffray Companies restated an “underweight” rating and issued a $56.00 price target (down from $57.00) on shares of General Mills in a research report on Monday, June 19th. Finally, Susquehanna Bancshares Inc restated a “neutral” rating and issued a $58.00 price target (down from $59.00) on shares of General Mills in a research report on Friday, June 30th. Six analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. General Mills currently has an average rating of “Hold” and a consensus price target of $59.93.
General Mills Company 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.
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