State Board of Administration of Florida Retirement System Has $48.18 Million Holdings in General Mills, Inc. (NYSE:GIS)

State Board of Administration of Florida Retirement System increased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 5.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 688,543 shares of the company’s stock after buying an additional 38,021 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.12% of General Mills worth $48,177,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Capital World Investors grew its holdings in shares of General Mills by 7.6% in the 4th quarter. Capital World Investors now owns 7,074,884 shares of the company’s stock valued at $460,858,000 after acquiring an additional 501,717 shares in the last quarter. Norges Bank bought a new position in shares of General Mills in the 4th quarter valued at $377,205,000. Nordea Investment Management AB increased its holdings in General Mills by 7.4% in the first quarter. Nordea Investment Management AB now owns 5,362,663 shares of the company’s stock valued at $376,459,000 after purchasing an additional 369,628 shares during the period. Dimensional Fund Advisors LP increased its holdings in General Mills by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,003,306 shares of the company’s stock valued at $325,909,000 after purchasing an additional 235,938 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in General Mills by 106.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,442,653 shares of the company’s stock worth $224,254,000 after acquiring an additional 1,778,345 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GIS shares. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday, June 27th. Barclays decreased their price target on shares of General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Mizuho reduced their price objective on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Bank of America reduced their price target on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Finally, Evercore ISI lowered their price target on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research note on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $68.82.

General Mills Stock Down 1.6 %

General Mills stock traded down $1.04 during trading on Friday, reaching $64.48. The stock had a trading volume of 500,081 shares, compared to its average volume of 4,111,310. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $77.63. The business has a 50 day moving average price of $66.52 and a 200 day moving average price of $66.54. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17. The stock has a market cap of $35.99 billion, a PE ratio of 15.20, a P/E/G ratio of 3.70 and a beta of 0.09.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The company had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the previous year, the company posted $1.12 EPS. General Mills’s revenue was down 6.3% compared to the same quarter last year. On average, analysts predict that General Mills, Inc. will post 4.49 EPS for the current year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Wednesday, July 10th. This is an increase from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio is 55.68%.

Insider Buying and Selling

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the completion of the transaction, the insider now owns 17,397 shares in the company, valued at approximately $1,227,706.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.24% 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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.