Belpointe Asset Management LLC Grows Stock Holdings in General Mills, Inc. (NYSE:GIS)

Belpointe Asset Management LLC increased its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 98.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,651 shares of the company's stock after acquiring an additional 8,265 shares during the quarter. Belpointe Asset Management LLC's holdings in General Mills were worth $1,062,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GIS. Gladstone Institutional Advisory LLC boosted its stake in shares of General Mills by 6.0% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,765 shares of the company's stock valued at $304,000 after purchasing an additional 268 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of General Mills by 11.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 834,417 shares of the company's stock worth $53,211,000 after acquiring an additional 85,612 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of General Mills by 105.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company's stock valued at $421,552,000 after purchasing an additional 2,926,232 shares during the period. Franklin Resources Inc. boosted its position in shares of General Mills by 10.6% during the 4th quarter. Franklin Resources Inc. now owns 484,550 shares of the company's stock valued at $30,900,000 after purchasing an additional 46,536 shares in the last quarter. Finally, J2 Capital Management Inc acquired a new position in General Mills in the fourth quarter valued at approximately $547,000. 75.71% of the stock is currently owned by institutional investors.

Insider Transactions at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 353,346 shares of the company's stock, valued at $22,967,490. This represents a 3.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GIS. Stifel Nicolaus cut their target price on shares of General Mills from $72.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley began coverage on General Mills in a report on Monday, March 24th. They issued an "underweight" rating and a $53.00 price target on the stock. Jefferies Financial Group boosted their price objective on General Mills from $58.00 to $62.00 and gave the company a "hold" rating in a report on Monday, March 10th. Barclays dropped their price objective on shares of General Mills from $68.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 18th. Finally, Wells Fargo & Company cut their target price on General Mills from $64.00 to $61.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, General Mills has an average rating of "Hold" and an average price target of $65.69.

General Mills Price Performance

Shares of General Mills stock traded down $0.11 on Monday, reaching $57.41. The stock had a trading volume of 547,265 shares, compared to its average volume of 5,810,349. General Mills, Inc. has a 1 year low of $55.15 and a 1 year high of $75.90. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. The business's 50 day moving average is $59.48 and its two-hundred day moving average is $62.80. The company has a market cap of $31.64 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 1.94 and a beta of 0.15.

General Mills (NYSE:GIS - Get Free Report) last issued its earnings results on Wednesday, March 19th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.96 by $0.04. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company's revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business posted $1.17 EPS. As a group, research analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 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 4.18%. The ex-dividend date is Thursday, April 10th. General Mills's dividend payout ratio (DPR) is currently 52.75%.

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.