General Mills, Inc. (NYSE:GIS) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its holdings in General Mills, Inc. (NYSE:GIS) by 9.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,480 shares of the company’s stock after selling 1,729 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in General Mills were worth $1,217,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Capital Research Global Investors boosted its holdings in General Mills by 22.3% in the 1st quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock worth $955,118,000 after acquiring an additional 2,488,341 shares during the period. Legal & General Group Plc lifted its position in shares of General Mills by 6.1% during the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after purchasing an additional 323,090 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of General Mills by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock worth $342,478,000 after purchasing an additional 148,235 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of General Mills by 100.4% in the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after purchasing an additional 2,368,563 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in General Mills by 2.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,560,066 shares of the company’s stock valued at $225,210,000 after purchasing an additional 76,074 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the subject of a number of analyst reports. Stifel Nicolaus upped their price objective on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. The Goldman Sachs Group initiated coverage on General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target for the company. Barclays lifted their price objective on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. TD Cowen increased their target price on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Finally, Piper Sandler lifted their price target on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $72.67.

General Mills Trading Down 2.3 %

NYSE:GIS opened at $63.21 on Monday. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The business has a 50 day simple moving average of $70.67 and a 200 day simple moving average of $68.84. The firm has a market capitalization of $35.09 billion, a P/E ratio of 15.05, a P/E/G ratio of 3.25 and a beta of 0.11.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company 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 company posted $1.09 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities research analysts predict that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were paid a $0.60 dividend. The ex-dividend date was Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.80%. General Mills’s payout ratio is currently 57.14%.

Insider Activity

In related news, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the sale, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the business’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 transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,555 shares of company stock valued at $4,657,676. Insiders own 0.26% of the company’s stock.

About General Mills

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.