Belpointe Asset Management LLC Has $1.29 Million Stock Position in General Mills, Inc. $GIS

Belpointe Asset Management LLC increased its stake in General Mills, Inc. (NYSE:GIS) by 38.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,960 shares of the company’s stock after acquiring an additional 6,880 shares during the quarter. Belpointe Asset Management LLC’s holdings in General Mills were worth $1,293,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GIS. Garde Capital Inc. increased its holdings in shares of General Mills by 101.5% during the second quarter. Garde Capital Inc. now owns 524 shares of the company’s stock valued at $27,000 after acquiring an additional 264 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in General Mills during the first quarter worth $34,000. GKV Capital Management Co. Inc. bought a new stake in General Mills during the first quarter worth $34,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in General Mills during the first quarter worth $37,000. Finally, Pingora Partners LLC grew its holdings in General Mills by 416.7% during the first quarter. Pingora Partners LLC now owns 620 shares of the company’s stock worth $37,000 after buying an additional 500 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

General Mills Price Performance

Shares of NYSE GIS opened at $50.92 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $27.16 billion, a P/E ratio of 9.63, a P/E/G ratio of 1.27 and a beta of -0.03. The stock’s 50-day simple moving average is $49.76 and its two-hundred day simple moving average is $52.90. General Mills, Inc. has a twelve month low of $48.29 and a twelve month high of $72.82.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The company’s revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.07 EPS. As a group, equities analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, October 10th. This represents a $2.44 annualized dividend and a dividend yield of 4.8%. General Mills’s dividend payout ratio is 46.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of General Mills in a report on Saturday, September 27th. Jefferies Financial Group decreased their price target on General Mills from $51.00 to $50.00 and set a “hold” rating for the company in a report on Monday, September 8th. Morgan Stanley cut their price objective on General Mills from $49.00 to $48.00 and set an “underweight” rating on the stock in a research report on Monday, September 15th. Stifel Nicolaus cut their price objective on General Mills from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Finally, Royal Bank Of Canada raised General Mills from a “sector perform” rating to an “outperform” rating and cut their price objective for the stock from $67.00 to $63.00 in a research report on Thursday, June 26th. Four research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $55.82.

Insider Activity at General Mills

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $50.04, for a total transaction of $200,160.00. Following the transaction, the insider directly owned 66,593 shares in the company, valued at approximately $3,332,313.72. This represents a 5.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.30% 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.