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

Belpointe Asset Management LLC grew its position in shares of General Mills, Inc. (NYSE:GIS) by 38.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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.

Other large investors have also recently bought and sold shares of the company. Kera Capital Partners Inc. acquired a new stake in shares of General Mills in the 2nd quarter valued at approximately $222,000. Victory Capital Management Inc. boosted its holdings in shares of General Mills by 7.3% in the 1st quarter. Victory Capital Management Inc. now owns 522,576 shares of the company’s stock valued at $31,245,000 after buying an additional 35,494 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of General Mills by 7.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company’s stock valued at $27,076,000 after buying an additional 32,628 shares during the last quarter. Rock Point Advisors LLC acquired a new stake in shares of General Mills in the 1st quarter valued at approximately $3,610,000. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of General Mills by 126.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 774,134 shares of the company’s stock valued at $46,285,000 after buying an additional 431,693 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Activity at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $50.04, for a total value of $200,160.00. Following the transaction, the insider owned 66,593 shares in the company, valued at approximately $3,332,313.72. This trade represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.30% of the company’s stock.

General Mills Trading Up 1.5%

Shares of General Mills stock opened at $50.92 on Wednesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.66 and a quick ratio of 0.40. The company has a market capitalization of $27.16 billion, a price-to-earnings ratio of 9.63, a P/E/G ratio of 1.27 and a beta of -0.03. The business has a fifty day simple moving average of $49.76 and a two-hundred day simple moving average of $52.90. General Mills, Inc. has a 1 year low of $48.29 and a 1 year high of $72.82.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. The firm had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The company’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.07 EPS. Research analysts forecast that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.61 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.8%. General Mills’s dividend payout ratio (DPR) is presently 46.12%.

Analysts Set New Price Targets

GIS has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on General Mills from $52.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, September 18th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $45.00 price objective (down previously from $53.00) on shares of General Mills in a report on Wednesday, August 20th. Mizuho cut their price target on General Mills from $57.00 to $52.00 and set a “neutral” rating for the company in a report on Friday, September 19th. Barclays cut their price target on General Mills from $54.00 to $52.00 and set an “equal weight” rating for the company in a report on Friday, September 19th. Finally, UBS Group cut their price target on General Mills from $49.00 to $47.00 and set a “sell” rating for the company in a report on Thursday, September 18th. Four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, General Mills has a consensus rating of “Hold” and a consensus price target of $55.82.

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.