General Mills, Inc. (GIS) Position Increased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its stake in General Mills, Inc. (NYSE:GIS) by 0.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,737,387 shares of the company’s stock after acquiring an additional 1,100 shares during the period. New York State Common Retirement Fund’s holdings in General Mills were worth $89,910,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Tdam USA Inc. boosted its holdings in General Mills by 5.6% in the first quarter. Tdam USA Inc. now owns 31,250 shares of the company’s stock valued at $1,617,000 after acquiring an additional 1,669 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in General Mills by 0.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,381,640 shares of the company’s stock valued at $123,250,000 after acquiring an additional 18,134 shares in the last quarter. LLBH Private Wealth Management LLC bought a new stake in General Mills in the first quarter valued at $212,000. Martin Capital Partners LLC boosted its holdings in General Mills by 19.3% in the first quarter. Martin Capital Partners LLC now owns 60,388 shares of the company’s stock valued at $3,125,000 after acquiring an additional 9,756 shares in the last quarter. Finally, Econ Financial Services Corp bought a new stake in General Mills in the first quarter valued at $260,000. Institutional investors and hedge funds own 69.22% of the company’s stock.

Shares of GIS stock opened at $52.39 on Wednesday. General Mills, Inc. has a 12 month low of $36.42 and a 12 month high of $53.00. The firm has a market cap of $31.38 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 2.38 and a beta of 0.77. The company has a current ratio of 0.55, a quick ratio of 0.35 and a debt-to-equity ratio of 1.61.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, March 20th. The company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.14. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.21 billion. General Mills had a net margin of 9.26% and a return on equity of 28.11%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 EPS. As a group, analysts expect that General Mills, Inc. will post 3.14 earnings per share for the current year.

Several analysts recently weighed in on GIS shares. Deutsche Bank upgraded shares of General Mills from a “hold” rating to a “buy” rating and lifted their price target for the company from $43.00 to $54.00 in a report on Thursday, March 14th. Wells Fargo & Co boosted their target price on shares of General Mills from $48.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 25th. Jefferies Financial Group restated a “buy” rating and set a $55.00 target price on shares of General Mills in a report on Wednesday, March 20th. TheStreet upgraded shares of General Mills from a “c+” rating to a “b-” rating in a report on Friday, March 15th. Finally, BMO Capital Markets boosted their target price on shares of General Mills from $51.00 to $53.00 and gave the company a “market perform” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $50.17.

In other news, insider John R. Church sold 4,719 shares of General Mills stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $50.78, for a total value of $239,630.82. Following the completion of the transaction, the insider now owns 34,112 shares of the company’s stock, valued at approximately $1,732,207.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Donal L. Mulligan sold 120,722 shares of General Mills stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $47.50, for a total value of $5,734,295.00. Following the completion of the transaction, the chief financial officer now directly owns 252,326 shares of the company’s stock, valued at approximately $11,985,485. The disclosure for this sale can be found here. In the last ninety days, insiders sold 444,222 shares of company stock valued at $21,764,784. 0.59% of the stock is owned by insiders.

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About General Mills

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, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

Further Reading: Liquidity

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

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