State of Alaska Department of Revenue Purchases 3,065 Shares of General Mills, Inc. (NYSE:GIS)

State of Alaska Department of Revenue lifted its position in General Mills, Inc. (NYSE:GIS) by 5.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 64,669 shares of the company’s stock after buying an additional 3,065 shares during the period. State of Alaska Department of Revenue’s holdings in General Mills were worth $4,775,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Claro Advisors LLC increased its stake in General Mills by 5.7% during the 1st quarter. Claro Advisors LLC now owns 3,813 shares of the company’s stock worth $267,000 after purchasing an additional 204 shares in the last quarter. Park Place Capital Corp boosted its holdings in shares of General Mills by 40.6% in the first quarter. Park Place Capital Corp now owns 540 shares of the company’s stock valued at $38,000 after buying an additional 156 shares during the period. Capital Advisors Ltd. LLC increased its position in shares of General Mills by 409.8% during the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after acquiring an additional 336 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of General Mills by 2.6% during the first quarter. Valeo Financial Advisors LLC now owns 27,333 shares of the company’s stock worth $1,913,000 after acquiring an additional 684 shares during the period. Finally, KFG Wealth Management LLC bought a new stake in General Mills in the 1st quarter valued at $266,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Activity

In related news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the sale, the insider now directly owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Jonathon Nudi sold 9,647 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the transaction, the insider now directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares in the company, valued at approximately $2,700,411.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,555 shares of company stock valued at $4,657,676. 0.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GIS. TD Cowen boosted their price target on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a report on Friday, September 20th. The Goldman Sachs Group started coverage on General Mills in a research note on Monday, August 12th. They issued a “buy” rating and a $76.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Barclays boosted 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. Finally, Argus reaffirmed a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, General Mills has a consensus rating of “Hold” and a consensus target price of $73.00.

General Mills Price Performance

Shares of NYSE GIS opened at $67.95 on Wednesday. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90. The business’s 50 day moving average price is $72.24 and its two-hundred day moving average price is $69.19. 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 has a market cap of $37.93 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 3.55 and a beta of 0.10.

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

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s dividend payout ratio is presently 55.68%.

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.