Kentucky Retirement Systems Sells 3,765 Shares of General Mills, Inc. (NYSE:GIS)

Kentucky Retirement Systems decreased its holdings in General Mills, Inc. (NYSE:GIS) by 8.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,777 shares of the company’s stock after selling 3,765 shares during the quarter. Kentucky Retirement Systems’ holdings in General Mills were worth $2,864,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Values First Advisors Inc. bought a new stake in shares of General Mills in the 3rd quarter valued at $27,000. First Foundation Advisors boosted its position in General Mills by 400.0% during the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares during the last quarter. Planning Capital Management Corp grew its holdings in General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after acquiring an additional 193 shares during the period. Beacon Capital Management LLC raised its position in shares of General Mills by 47.5% in the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock worth $39,000 after acquiring an additional 180 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of General Mills in the 3rd quarter valued at about $44,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the sale, the insider now owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the sale, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 11.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,555 shares of company stock valued at $4,657,676 in the last three months. Company insiders own 0.26% of the company’s stock.

General Mills Price Performance

General Mills stock opened at $63.21 on Monday. The stock has a market cap 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. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The company’s 50 day moving average price is $70.67 and its two-hundred day moving average price is $68.84. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 earnings per share. On average, equities analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently commented on GIS shares. Barclays raised their price objective on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. boosted their target price on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. TD Cowen raised their price objective on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Piper Sandler upped their target price on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Finally, Citigroup lifted their price target on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $72.67.

General Mills 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.