Treasurer of the State of North Carolina Has $23.99 Million Stock Position in General Mills, Inc. (NYSE:GIS)

Treasurer of the State of North Carolina raised its stake in General Mills, Inc. (NYSE:GIS) by 4.4% in the 4th quarter, HoldingsChannel reports. The fund owned 376,142 shares of the company’s stock after buying an additional 15,700 shares during the quarter. Treasurer of the State of North Carolina’s holdings in General Mills were worth $23,987,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. LSV Asset Management increased its holdings in shares of General Mills by 115.2% in the fourth quarter. LSV Asset Management now owns 2,817,780 shares of the company’s stock valued at $179,690,000 after purchasing an additional 1,508,680 shares in the last quarter. Bessemer Group Inc. lifted its holdings in General Mills by 1.8% during the 4th quarter. Bessemer Group Inc. now owns 134,965 shares of the company’s stock worth $8,607,000 after buying an additional 2,450 shares in the last quarter. Martingale Asset Management L P boosted its position in General Mills by 68.1% in the 4th quarter. Martingale Asset Management L P now owns 18,910 shares of the company’s stock valued at $1,206,000 after buying an additional 7,662 shares during the last quarter. APG Asset Management N.V. increased its stake in shares of General Mills by 109.6% in the 4th quarter. APG Asset Management N.V. now owns 576,159 shares of the company’s stock valued at $35,482,000 after buying an additional 301,300 shares during the period. Finally, Advisory Services Network LLC raised its position in shares of General Mills by 47.5% during the fourth quarter. Advisory Services Network LLC now owns 36,032 shares of the company’s stock worth $2,298,000 after acquiring an additional 11,598 shares during the last quarter. 75.71% of the stock is owned by institutional investors.

Insider Transactions at General Mills

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the transaction, the chief executive officer now owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. This represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GIS shares. Piper Sandler decreased their price target on General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. Mizuho reduced their price objective on shares of General Mills from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. JPMorgan Chase & Co. dropped their target price on shares of General Mills from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Citigroup decreased their price objective on General Mills from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Finally, Bank of America reduced their target price on General Mills from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, General Mills has an average rating of “Hold” and an average target price of $65.69.

General Mills Trading Down 1.5 %

Shares of NYSE:GIS opened at $57.18 on Friday. The company’s fifty day simple moving average is $59.63 and its 200 day simple moving average is $63.55. The firm has a market cap of $31.52 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.94 and a beta of 0.15. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 12 month low of $55.15 and a 12 month high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the company earned $1.17 earnings per share. General Mills’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $0.60 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.20%. General Mills’s payout ratio is 52.75%.

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.