Alaska Permanent Fund Corp Buys 11,771 Shares of General Mills, Inc. (NYSE:GIS)

Alaska Permanent Fund Corp raised its stake in General Mills, Inc. (NYSE:GIS) by 40.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 41,058 shares of the company’s stock after purchasing an additional 11,771 shares during the quarter. Alaska Permanent Fund Corp’s holdings in General Mills were worth $2,675,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GIS. Operose Advisors LLC lifted its position in General Mills by 214.1% in the third quarter. Operose Advisors LLC now owns 402 shares of the company’s stock valued at $26,000 after purchasing an additional 274 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in General Mills in the fourth quarter worth $28,000. Authentikos Wealth Advisory LLC purchased a new stake in General Mills in the third quarter worth $31,000. HHM Wealth Advisors LLC purchased a new stake in shares of General Mills in the third quarter worth $32,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of General Mills in the fourth quarter worth $40,000. Institutional investors own 75.71% of the company’s stock.

Insider Buying and Selling

In other General Mills news, insider Jonathon Nudi sold 7,671 shares of the company’s stock in a transaction dated 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 $6,602,574.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 17,726 shares of company stock valued at $1,187,811. 0.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $72.00 target price on shares of General Mills in a research note on Thursday, March 21st. Morgan Stanley raised their price objective on General Mills from $58.00 to $61.00 and gave the stock an “underweight” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. increased their target price on General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Barclays increased their target price on General Mills from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. Finally, Wells Fargo & Company raised their price target on General Mills from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. Two 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 MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $72.18.

General Mills Price Performance

GIS stock traded down $0.31 during mid-day trading on Thursday, hitting $71.30. The stock had a trading volume of 523,305 shares, compared to its average volume of 4,228,139. The firm has a fifty day simple moving average of $67.36 and a 200 day simple moving average of $65.49. General Mills, Inc. has a 52 week low of $60.33 and a 52 week high of $90.89. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $40.49 billion, a P/E ratio of 16.42, a P/E/G ratio of 2.44 and a beta of 0.15.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. The firm had revenue of $5.10 billion for 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 company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.97 EPS. As a group, research analysts forecast that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Tuesday, April 9th. General Mills’s dividend payout ratio (DPR) is currently 54.13%.

General Mills Company 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.