New York State Teachers Retirement System Cuts Stake in General Mills, Inc. (NYSE:GIS)

New York State Teachers Retirement System cut its position in General Mills, Inc. (NYSE:GIS) by 7.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 456,202 shares of the company’s stock after selling 38,648 shares during the period. New York State Teachers Retirement System’s holdings in General Mills were worth $28,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its position in General Mills by 7.4% during the fourth quarter. International Assets Investment Management LLC now owns 7,862 shares of the company’s stock worth $512,000 after acquiring an additional 539 shares during the last quarter. Duality Advisers LP boosted its holdings in shares of General Mills by 44.6% during the 4th quarter. Duality Advisers LP now owns 12,021 shares of the company’s stock worth $783,000 after purchasing an additional 3,710 shares during the last quarter. RWA Wealth Partners LLC boosted its holdings in shares of General Mills by 489.5% during the 4th quarter. RWA Wealth Partners LLC now owns 29,778 shares of the company’s stock worth $1,940,000 after purchasing an additional 24,727 shares during the last quarter. PDS Planning Inc boosted its holdings in shares of General Mills by 18.1% during the 4th quarter. PDS Planning Inc now owns 4,078 shares of the company’s stock worth $266,000 after purchasing an additional 626 shares during the last quarter. Finally, Marks Group Wealth Management Inc acquired a new position in shares of General Mills during the 4th quarter worth approximately $203,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GIS shares. Evercore ISI lowered their target price on General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a report on Friday, June 28th. Wells Fargo & Company lowered their target price on General Mills from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Thursday, June 27th. Mizuho reduced their price target on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Thursday, June 27th. Finally, Citigroup reduced their price target on shares of General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $69.71.

General Mills Stock Up 0.2 %

General Mills stock opened at $70.83 on Friday. General Mills, Inc. has a twelve month low of $60.33 and a twelve month high of $74.45. The stock’s fifty day simple moving average is $66.33 and its 200-day simple moving average is $67.22. The company has a current ratio of 0.65, a quick ratio of 0.38 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $39.53 billion, a P/E ratio of 16.43, a P/E/G ratio of 3.83 and a beta of 0.09.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the company earned $1.12 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. As a group, equities analysts expect that General Mills, Inc. will post 4.49 earnings per share for the current fiscal year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Wednesday, July 10th. This is a positive change from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio is 55.68%.

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 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.