Utah Retirement Systems Boosts Holdings in General Mills, Inc. (NYSE:GIS)

Utah Retirement Systems increased its holdings in General Mills, Inc. (NYSE:GIS) by 0.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,567 shares of the company’s stock after buying an additional 200 shares during the period. Utah Retirement Systems’ holdings in General Mills were worth $5,903,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of General Mills in the 4th quarter valued at about $496,484,000. Nordea Investment Management AB lifted its position in General Mills by 64.5% during the fourth quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after purchasing an additional 3,058,414 shares during the last quarter. JPMorgan Chase & Co. grew its stake in General Mills by 105.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after buying an additional 2,926,232 shares in the last quarter. Nepsis Inc. grew its stake in General Mills by 3,504.8% in the 4th quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock worth $138,023,000 after buying an additional 2,104,353 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of General Mills by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company’s stock valued at $4,376,573,000 after buying an additional 1,868,508 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

General Mills Stock Down 2.0 %

NYSE GIS opened at $55.59 on Friday. The business’s 50-day moving average is $59.02 and its 200 day moving average is $61.98. The stock has a market capitalization of $30.64 billion, a PE ratio of 12.08, a PEG ratio of 1.94 and a beta of 0.15. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. General Mills, Inc. has a 1 year low of $55.01 and a 1 year high of $75.90.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the company earned $1.17 EPS. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. Sell-side analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GIS shares. Barclays cut their target price on shares of General Mills from $68.00 to $65.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 18th. Bank of America decreased their price objective on General Mills from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. JPMorgan Chase & Co. cut their target price on General Mills from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. Citigroup lowered their price objective on shares of General Mills from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Finally, Piper Sandler cut their price objective on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, General Mills presently has a consensus rating of “Hold” and an average target price of $65.00.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the transaction, the chief executive officer now owns 353,346 shares of the company’s stock, valued at approximately $22,967,490. This represents a 3.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

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.