State of Tennessee Treasury Department lowered its position in shares of General Mills, Inc. (NYSE:GIS) by 54.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 237,580 shares of the company’s stock after selling 280,958 shares during the period. State of Tennessee Treasury Department’s holdings in General Mills were worth $13,162,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Alerus Financial NA increased its stake in shares of General Mills by 6.4% during the second quarter. Alerus Financial NA now owns 21,795 shares of the company’s stock valued at $1,208,000 after buying an additional 1,312 shares during the period. Sawtooth Solutions LLC increased its stake in shares of General Mills by 45.0% during the second quarter. Sawtooth Solutions LLC now owns 11,149 shares of the company’s stock valued at $618,000 after buying an additional 3,460 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of General Mills by 1,657.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 154,164 shares of the company’s stock valued at $8,540,000 after buying an additional 145,390 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of General Mills by 25.6% during the second quarter. Oppenheimer & Co. Inc. now owns 54,955 shares of the company’s stock valued at $3,044,000 after buying an additional 11,214 shares during the period. Finally, Nuance Investments LLC purchased a new position in shares of General Mills during the second quarter valued at $5,870,000. Hedge funds and other institutional investors own 70.45% of the company’s stock.

Shares of General Mills, Inc. (NYSE:GIS) opened at 51.70 on Wednesday. The firm has a market cap of $29.38 billion, a P/E ratio of 18.52 and a beta of 0.61. The firm has a 50-day moving average price of $53.11 and a 200 day moving average price of $55.65. General Mills, Inc. has a one year low of $50.13 and a one year high of $64.06.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.05). The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.79 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 earnings per share. On average, analysts forecast that General Mills, Inc. will post $3.08 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.96 annualized dividend and a dividend yield of 3.79%. General Mills’s dividend payout ratio is currently 70.25%.

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GIS has been the topic of several research reports. UBS AG restated a “neutral” rating and set a $61.00 price target (down previously from $63.00) on shares of General Mills in a research note on Wednesday, June 21st. BidaskClub downgraded General Mills from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Bank of America Corporation reaffirmed a “neutral” rating and set a $61.00 price objective (down previously from $63.00) on shares of General Mills in a research report on Sunday, June 25th. Morgan Stanley reaffirmed an “equal weight” rating and set a $55.00 price objective (down previously from $58.00) on shares of General Mills in a research report on Sunday, June 25th. Finally, Susquehanna Bancshares Inc set a $59.00 price objective on General Mills and gave the company a “hold” rating in a research report on Sunday, June 25th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $56.64.

General Mills Company Profile

General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.

Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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