State Board of Administration of Florida Retirement System Has $27.93 Million Stock Holdings in General Mills, Inc. $GIS

State Board of Administration of Florida Retirement System reduced its holdings in shares of General Mills, Inc. (NYSE:GIS) by 2.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 539,078 shares of the company’s stock after selling 15,330 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.10% of General Mills worth $27,930,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its stake in shares of General Mills by 92.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 24,787 shares of the company’s stock worth $1,284,000 after purchasing an additional 11,917 shares in the last quarter. Te Ahumairangi Investment Management Ltd grew its stake in shares of General Mills by 6.1% in the second quarter. Te Ahumairangi Investment Management Ltd now owns 64,074 shares of the company’s stock valued at $3,320,000 after buying an additional 3,668 shares in the last quarter. Employees Retirement System of Texas bought a new position in shares of General Mills in the second quarter valued at $233,000. Choreo LLC increased its holdings in General Mills by 12.3% during the second quarter. Choreo LLC now owns 28,726 shares of the company’s stock worth $1,488,000 after buying an additional 3,156 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. raised its position in General Mills by 8.3% during the second quarter. Northwest & Ethical Investments L.P. now owns 143,616 shares of the company’s stock worth $7,441,000 after acquiring an additional 11,039 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the sale, the insider owned 66,593 shares of the company’s stock, valued at approximately $3,332,313.72. The trade was a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GIS shares. Bernstein Bank cut their target price on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating for the company in a research note on Thursday, September 18th. Zacks Research raised General Mills from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $45.00 target price (down from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. Wall Street Zen upgraded General Mills from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of General Mills in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $55.82.

General Mills Stock Performance

Shares of General Mills stock opened at $47.60 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The company has a market cap of $25.39 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 1.17 and a beta of -0.04. The company has a 50 day moving average of $48.24 and a 200-day moving average of $50.31. General Mills, Inc. has a 1-year low of $45.80 and a 1-year high of $67.40.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same period last year, the firm posted $1.07 earnings per share. General Mills’s revenue was down 6.8% compared to the same quarter last year. As a group, equities research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 9th will be given a $0.61 dividend. The ex-dividend date is Friday, January 9th. This represents a $2.44 dividend on an annualized basis and a yield of 5.1%. General Mills’s dividend payout ratio (DPR) is currently 46.12%.

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.