Claro Advisors LLC Grows Position in General Mills, Inc. (NYSE:GIS)

Claro Advisors LLC grew its holdings in shares of General Mills, Inc. (NYSE:GIS) by 44.8% in the third quarter, Holdings Channel.com reports. The firm owned 5,901 shares of the company’s stock after buying an additional 1,825 shares during the period. Claro Advisors LLC’s holdings in General Mills were worth $436,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Mesirow Financial Investment Management Inc. grew its stake in General Mills by 1.1% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock valued at $999,000 after buying an additional 148 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in shares of General Mills by 4.9% in the second quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock worth $206,000 after acquiring an additional 151 shares during the period. Secure Asset Management LLC grew its position in shares of General Mills by 5.0% in the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after purchasing an additional 157 shares in the last quarter. LCM Capital Management Inc raised its stake in shares of General Mills by 1.9% during the 2nd quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock valued at $539,000 after purchasing an additional 157 shares during the period. Finally, Ballentine Partners LLC lifted its holdings in General Mills by 1.1% during the 3rd quarter. Ballentine Partners LLC now owns 14,854 shares of the company’s stock worth $1,097,000 after purchasing an additional 165 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GIS. Barclays upped their target price on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. Piper Sandler boosted their price objective on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Stifel Nicolaus upped their price objective on shares of General Mills from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $72.67.

General Mills Stock Down 0.5 %

Shares of NYSE:GIS opened at $62.88 on Tuesday. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The stock’s 50-day moving average price is $70.42 and its 200-day moving average price is $68.78. The stock has a market capitalization of $34.91 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 3.25 and a beta of 0.11.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 earnings per share. On average, equities 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 declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date was Thursday, October 10th. General Mills’s payout ratio is 57.14%.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total value of $3,190,365.00. Following the completion of the sale, the chief executive officer now directly owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This trade represents a 11.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, the chief accounting officer now directly owns 14,813 shares in the company, valued at $1,055,870.64. The trade was a 35.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,555 shares of company stock worth $4,657,676. 0.26% of the stock is currently owned by company insiders.

General Mills 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.