Claro Advisors LLC Acquires 204 Shares of General Mills, Inc. (NYSE:GIS)

Claro Advisors LLC increased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 5.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,813 shares of the company’s stock after buying an additional 204 shares during the quarter. Claro Advisors LLC’s holdings in General Mills were worth $267,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Teza Capital Management LLC acquired a new position in General Mills during the 3rd quarter worth approximately $428,000. Axxcess Wealth Management LLC lifted its stake in shares of General Mills by 44.4% in the 3rd quarter. Axxcess Wealth Management LLC now owns 38,982 shares of the company’s stock valued at $2,495,000 after acquiring an additional 11,982 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of General Mills by 17.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,220,646 shares of the company’s stock valued at $142,099,000 after acquiring an additional 328,585 shares in the last quarter. Sei Investments Co. grew its position in General Mills by 9.2% during the 3rd quarter. Sei Investments Co. now owns 253,379 shares of the company’s stock worth $16,215,000 after acquiring an additional 21,299 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in General Mills by 6.9% in the 3rd quarter. Royal London Asset Management Ltd. now owns 244,523 shares of the company’s stock worth $15,648,000 after purchasing an additional 15,707 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company cut their price target on General Mills from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 27th. Bank of America reduced their target price on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Thursday, June 27th. Sanford C. Bernstein raised shares of General Mills from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $62.00 to $70.00 in a research note on Wednesday, May 15th. Finally, Barclays lowered their target price on General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, General Mills has a consensus rating of “Hold” and an average price target of $70.44.

Insider Activity at General Mills

In other General Mills news, insider Werner Lanette Shaffer sold 710 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $70.57, for a total value of $50,104.70. Following the completion of the sale, the insider now owns 17,397 shares of the company’s stock, valued at $1,227,706.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

General Mills Price Performance

Shares of GIS opened at $63.29 on Tuesday. The firm has a market cap of $35.33 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 3.57 and a beta of 0.09. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $77.63. The business’s 50 day moving average price is $68.51 and its two-hundred day moving average price is $66.74. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.85 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. General Mills’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.12 EPS. On average, equities analysts anticipate that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a $0.60 dividend. The ex-dividend date is Wednesday, July 10th. This is an increase from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 annualized dividend and a dividend yield of 3.79%. General Mills’s dividend payout ratio (DPR) is currently 54.76%.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.