State of New Jersey Common Pension Fund D Cuts Stock Holdings in General Mills, Inc. (NYSE:GIS)

State of New Jersey Common Pension Fund D reduced its stake in General Mills, Inc. (NYSE:GIS) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,126 shares of the company’s stock after selling 10,413 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in General Mills were worth $12,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of GIS. State Street Corp raised its position in shares of General Mills by 9.4% during the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after buying an additional 2,867,678 shares in the last quarter. Nordea Investment Management AB raised its position in General Mills by 64.5% during the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after purchasing an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after purchasing an additional 2,926,232 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of General Mills by 7.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,823,254 shares of the company’s stock worth $282,347,000 after purchasing an additional 263,188 shares in the last quarter. Finally, abrdn plc increased its position in shares of General Mills by 3.9% during the 3rd quarter. abrdn plc now owns 2,492,918 shares of the company’s stock valued at $183,778,000 after purchasing an additional 92,931 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Price Performance

GIS opened at $58.85 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The stock has a market capitalization of $32.44 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 3.82 and a beta of 0.10. The stock’s 50 day moving average price is $61.61 and its 200-day moving average price is $66.87. General Mills, Inc. has a 52-week low of $57.85 and a 52-week high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 EPS. On average, equities research analysts predict that General Mills, Inc. will post 4.4 EPS for the current year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 4.08%. General Mills’s payout ratio is 52.17%.

Analyst Ratings Changes

A number of analysts recently weighed in on GIS shares. Deutsche Bank Aktiengesellschaft dropped their target price on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Barclays lowered their price objective on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Wells Fargo & Company reduced their target price on shares of General Mills from $68.00 to $64.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Citigroup lowered their price target on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, General Mills currently has an average rating of “Hold” and a consensus target price of $71.13.

Insiders Place Their Bets

In related news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction of $67,144.50. Following the sale, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.

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.