Naples Global Advisors LLC Acquires 378 Shares of General Mills, Inc. (NYSE:GIS)

Naples Global Advisors LLC boosted its stake in shares of General Mills, Inc. (NYSE:GIS) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,438 shares of the company’s stock after acquiring an additional 378 shares during the quarter. Naples Global Advisors LLC’s holdings in General Mills were worth $1,495,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp increased its position in shares of General Mills by 33.0% during the 4th quarter. Van ECK Associates Corp now owns 137,218 shares of the company’s stock valued at $8,750,000 after purchasing an additional 34,044 shares during the last quarter. Retirement Guys Formula LLC increased its position in General Mills by 9.7% during the fourth quarter. Retirement Guys Formula LLC now owns 11,781 shares of the company’s stock valued at $751,000 after acquiring an additional 1,042 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in General Mills by 1.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 329,528 shares of the company’s stock valued at $20,938,000 after acquiring an additional 4,448 shares during the last quarter. Kentucky Trust Co purchased a new stake in shares of General Mills in the fourth quarter valued at $692,000. Finally, Viewpoint Capital Management LLC lifted its holdings in shares of General Mills by 13.3% in the 4th quarter. Viewpoint Capital Management LLC now owns 9,564 shares of the company’s stock worth $610,000 after acquiring an additional 1,120 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

General Mills Price Performance

NYSE GIS opened at $59.60 on Friday. The company has a market cap of $32.86 billion, a PE ratio of 12.96, a P/E/G ratio of 3.82 and a beta of 0.10. General Mills, Inc. has a 52-week low of $57.85 and a 52-week high of $75.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The firm’s 50 day moving average price is $61.85 and its 200-day moving average price is $66.99.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.18. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. Sell-side analysts forecast that General Mills, Inc. will post 4.4 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.03%. General Mills’s dividend payout ratio is presently 52.17%.

Insider Buying and Selling at General Mills

In related news, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the transaction, the insider now owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GIS. Citigroup reduced their price objective on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. TD Cowen decreased their price target on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Barclays dropped their price objective on General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft reduced their target price on General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Finally, Bank of America raised shares of General Mills from a “neutral” rating to a “buy” rating and boosted their target price for the company from $78.00 to $80.00 in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $71.13.

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.