Public Employees Retirement System of Ohio Sells 12,547 Shares of General Mills, Inc. (NYSE:GIS)

Public Employees Retirement System of Ohio trimmed its position in General Mills, Inc. (NYSE:GIS) by 5.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 202,839 shares of the company’s stock after selling 12,547 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in General Mills were worth $14,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mesirow Financial Investment Management Inc. boosted its position in General Mills by 1.1% during the third quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock worth $999,000 after purchasing an additional 148 shares during the period. Deseret Mutual Benefit Administrators raised its position in shares of General Mills by 4.9% in the second quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after buying an additional 151 shares in the last quarter. Secure Asset Management LLC lifted its position in shares of General Mills by 5.0% during the 2nd quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after acquiring an additional 157 shares during the period. LCM Capital Management Inc raised its stake in General Mills by 1.9% in the second quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock valued at $539,000 after purchasing an additional 157 shares in the last quarter. Finally, Ballentine Partners LLC increased its holdings in General Mills by 1.1% in the 3rd quarter. Ballentine Partners LLC now owns 14,854 shares of the company’s stock valued at $1,097,000 after buying an additional 165 shares during the period. Institutional investors own 75.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on GIS. Piper Sandler upped their target price on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Barclays boosted their price target on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 target price on shares of General Mills in a report on Thursday, September 19th. Wells Fargo & Company decreased their price target on General Mills from $77.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. Finally, TD Cowen raised their price objective on shares of General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. One 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $72.67.

Insider Buying and Selling

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s 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. This trade represents a 11.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maria Sastre sold 1,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the completion of the transaction, the director now directly owns 23,013 shares of the company’s stock, valued at $1,465,007.58. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,555 shares of company stock valued at $4,721,336 in the last 90 days. Company insiders own 0.26% of the company’s stock.

General Mills Trading Up 0.4 %

Shares of NYSE:GIS opened at $66.15 on Wednesday. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90. The stock has a market capitalization of $36.72 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 3.39 and a beta of 0.10. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The stock’s 50-day simple moving average is $67.80 and its two-hundred day simple moving average is $68.26.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. General Mills’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 earnings per share. Analysts expect that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is presently 57.14%.

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.