Strs Ohio Decreases Holdings in General Mills, Inc. (NYSE:GIS)

Strs Ohio cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 253,730 shares of the company’s stock after selling 10,397 shares during the period. Strs Ohio’s holdings in General Mills were worth $16,527,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. FWL Investment Management LLC purchased a new stake in shares of General Mills in the 4th quarter worth $25,000. Almanack Investment Partners LLC. purchased a new stake in shares of General Mills in the 3rd quarter worth $28,000. Operose Advisors LLC increased its stake in shares of General Mills by 214.1% in the 3rd quarter. Operose Advisors LLC now owns 402 shares of the company’s stock worth $26,000 after purchasing an additional 274 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of General Mills in the 4th quarter worth $28,000. Finally, HWG Holdings LP increased its stake in shares of General Mills by 107.4% in the 2nd quarter. HWG Holdings LP now owns 450 shares of the company’s stock worth $35,000 after purchasing an additional 233 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Stock Up 0.7 %

Shares of NYSE GIS opened at $67.82 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.66 and a quick ratio of 0.40. The company has a market cap of $38.51 billion, a P/E ratio of 15.56, a PEG ratio of 2.32 and a beta of 0.15. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $90.89. The firm has a 50-day simple moving average of $66.49 and a two-hundred day simple moving average of $65.19.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.12. The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $4.97 billion. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 earnings per share. Research analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 3.48%. The ex-dividend date is Tuesday, April 9th. General Mills’s payout ratio is currently 54.13%.

Insiders Place Their Bets

In other General Mills news, insider Jonathon Nudi sold 7,671 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $64.15, for a total value of $492,094.65. Following the completion of the sale, the insider now owns 102,924 shares of the company’s stock, valued at $6,602,574.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Jeffrey L. Harmening sold 60,056 shares of General Mills stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the completion of the sale, the chief executive officer now owns 318,483 shares of the company’s stock, valued at $20,523,044.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathon Nudi sold 7,671 shares of General Mills stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $64.15, for a total transaction of $492,094.65. Following the sale, the insider now directly owns 102,924 shares of the company’s stock, valued at approximately $6,602,574.60. The disclosure for this sale can be found here. Insiders sold a total of 77,782 shares of company stock valued at $5,057,820 over the last 90 days. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

GIS has been the subject of several analyst reports. TD Cowen upped their price objective on General Mills from $68.00 to $70.00 and gave the stock a “market perform” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. upped their price objective on General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Barclays upped their target price on shares of General Mills from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday, March 22nd. Bank of America upped their target price on shares of General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Finally, Stifel Nicolaus upped their target price on shares of General Mills from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, General Mills has a consensus rating of “Hold” and a consensus target price of $72.18.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.