Claro Advisors LLC Raises Stake in General Mills, Inc. (NYSE:GIS)

Claro Advisors LLC lifted its position in General Mills, Inc. (NYSE:GIS) by 17.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,795 shares of the company’s stock after purchasing an additional 719 shares during the period. Claro Advisors LLC’s holdings in General Mills were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Advisors Ltd. LLC boosted its holdings in General Mills by 409.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after buying an additional 336 shares during the period. RFP Financial Group LLC grew its position in shares of General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after purchasing an additional 173 shares in the last quarter. Perkins Coie Trust Co raised its stake in General Mills by 769.2% during the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after purchasing an additional 400 shares during the period. GoalVest Advisory LLC lifted its holdings in General Mills by 65.5% in the 1st quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock worth $32,000 after purchasing an additional 180 shares in the last quarter. Finally, First Foundation Advisors boosted its stake in General Mills by 400.0% in the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Trading Down 1.1 %

GIS stock opened at $69.93 on Friday. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90. The stock has a market capitalization of $39.03 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10. 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 firm’s fifty day simple moving average is $72.36 and its two-hundred day simple moving average is $69.21.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share 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 for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the company posted $1.09 EPS. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors 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 yield of 3.43%. The ex-dividend date is Thursday, October 10th. General Mills’s payout ratio is currently 55.68%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. Bank of America boosted their price target on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. TD Cowen raised their price objective on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. boosted their target price on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Finally, Evercore ISI cut their price target on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, General Mills has a consensus rating of “Hold” and an average target price of $73.00.

Insider Buying and Selling at General Mills

In other news, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the completion of the sale, the chief accounting officer now directly owns 14,813 shares in the company, valued at approximately $1,055,870.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $71.28, for a total transaction of $576,156.24. Following the completion of the sale, the chief accounting officer now owns 14,813 shares in the company, valued at $1,055,870.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jonathon Nudi sold 9,647 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the sale, the insider now directly owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,055 shares of company stock valued at $1,467,311 in the last quarter. 0.24% of the stock is owned by insiders.

General Mills Company Profile

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.