Retirement Systems of Alabama Sells 809 Shares of General Mills, Inc. (NYSE:GIS)

Retirement Systems of Alabama lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 0.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 124,534 shares of the company’s stock after selling 809 shares during the quarter. Retirement Systems of Alabama’s holdings in General Mills were worth $7,878,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MeadowBrook Investment Advisors LLC bought a new stake in shares of General Mills during the fourth quarter valued at approximately $27,000. Rise Advisors LLC boosted its position in General Mills by 199.3% in the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after buying an additional 273 shares during the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of General Mills by 409.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after buying an additional 336 shares during the period. Fortis Group Advisors LLC raised its position in shares of General Mills by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock worth $30,000 after acquiring an additional 229 shares during the last quarter. Finally, RFP Financial Group LLC lifted its stake in shares of General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after acquiring an additional 173 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on GIS shares. Sanford C. Bernstein raised General Mills from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $62.00 to $70.00 in a report on Wednesday, May 15th. JPMorgan Chase & Co. dropped their price target on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Evercore ISI reduced their price objective on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research note on Friday, June 28th. Citigroup dropped their target price on shares of General Mills from $71.00 to $68.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Finally, Stifel Nicolaus reduced their price target on General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, fifteen 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 a consensus price target of $69.71.

General Mills Stock Up 0.2 %

NYSE:GIS opened at $70.83 on Friday. The stock has a market cap of $39.53 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 3.83 and a beta of 0.09. 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 stock has a 50-day moving average price of $66.33 and a two-hundred day moving average price of $67.24. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $74.45.

General Mills (NYSE:GIS) last issued 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. The business had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. General Mills’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.12 EPS. As a group, equities analysts expect that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.60 per share. This is an increase from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.39%. General Mills’s dividend payout ratio is currently 55.68%.

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.