General Mills, Inc. (NYSE:GIS) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its stake in shares of General Mills, Inc. (NYSE:GISGet Rating) by 48.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,711 shares of the company’s stock after buying an additional 40,910 shares during the period. State of Alaska Department of Revenue’s holdings in General Mills were worth $9,484,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of General Mills by 6.9% during the first quarter. BlackRock Inc. now owns 48,512,369 shares of the company’s stock worth $3,285,257,000 after buying an additional 3,122,049 shares during the period. State Street Corp lifted its stake in shares of General Mills by 2.3% during the first quarter. State Street Corp now owns 35,209,877 shares of the company’s stock worth $2,384,413,000 after buying an additional 786,443 shares during the period. Capital International Investors lifted its stake in shares of General Mills by 2.2% during the first quarter. Capital International Investors now owns 34,562,381 shares of the company’s stock worth $2,340,594,000 after buying an additional 743,351 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of General Mills by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,852,150 shares of the company’s stock worth $734,907,000 after buying an additional 75,902 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of General Mills by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 9,702,973 shares of the company’s stock worth $651,804,000 after buying an additional 77,264 shares during the period. 75.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GIS. Citigroup boosted their target price on shares of General Mills from $82.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, June 30th. Piper Sandler boosted their target price on shares of General Mills from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, June 30th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of General Mills from $75.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, June 30th. Royal Bank of Canada boosted their target price on shares of General Mills from $66.00 to $68.00 and gave the company a “sector perform” rating in a research report on Friday, July 1st. Finally, UBS Group boosted their target price on shares of General Mills from $77.00 to $79.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $73.64.

Insider Transactions at General Mills

In other news, insider Jodi J. Benson sold 15,685 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $75.25, for a total transaction of $1,180,296.25. Following the completion of the sale, the insider now owns 38,085 shares of the company’s stock, valued at $2,865,896.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Dana M. Mcnabb sold 10,993 shares of the stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $76.16, for a total value of $837,226.88. Following the completion of the sale, the insider now owns 14,884 shares of the company’s stock, valued at approximately $1,133,565.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jodi J. Benson sold 15,685 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $75.25, for a total transaction of $1,180,296.25. Following the completion of the transaction, the insider now owns 38,085 shares in the company, valued at $2,865,896.25. The disclosure for this sale can be found here. Insiders sold 58,422 shares of company stock valued at $4,397,556 over the last 90 days. Corporate insiders own 0.67% of the company’s stock.

General Mills Trading Up 0.2 %

Shares of General Mills stock opened at $75.25 on Monday. The firm has a 50-day simple moving average of $75.93 and a two-hundred day simple moving average of $71.52. The company has a market cap of $44.83 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 2.51 and a beta of 0.33. General Mills, Inc. has a fifty-two week low of $57.47 and a fifty-two week high of $78.54. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.40 and a current ratio of 0.63.

General Mills (NYSE:GISGet Rating) last released its earnings results on Wednesday, June 29th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.11. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.81 billion. General Mills had a net margin of 14.25% and a return on equity of 23.74%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 earnings per share. As a group, equities analysts predict that General Mills, Inc. will post 4 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, July 7th. Stockholders of record on Friday, July 8th were paid a dividend of $0.54 per share. The ex-dividend date was Thursday, July 7th. General Mills’s dividend payout ratio is currently 48.87%.

General Mills Profile

(Get Rating)

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers 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 salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.

See Also

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

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