General Mills, Inc. (NYSE:GIS) Shares Sold by Naples Global Advisors LLC

Naples Global Advisors LLC decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 11.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,607 shares of the company’s stock after selling 2,947 shares during the period. Naples Global Advisors LLC’s holdings in General Mills were worth $1,493,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Cetera Trust Company N.A purchased a new position in shares of General Mills in the fourth quarter valued at approximately $50,000. Optimist Retirement Group LLC acquired a new position in shares of General Mills in the fourth quarter worth $1,171,000. State Board of Administration of Florida Retirement System increased its position in shares of General Mills by 5.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after acquiring an additional 38,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of General Mills by 16.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock valued at $48,711,000 after acquiring an additional 96,712 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its holdings in General Mills by 122.7% in the fourth quarter. Apollon Wealth Management LLC now owns 23,675 shares of the company’s stock valued at $1,542,000 after purchasing an additional 13,043 shares during the period. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GIS has been the topic of a number of analyst reports. Sanford C. Bernstein raised General Mills from an “underperform” rating to a “market perform” rating and increased their price target for the company from $62.00 to $70.00 in a research report on Wednesday, May 15th. Wells Fargo & Company reduced their target price on shares of General Mills from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Thursday, June 27th. Barclays decreased their price target on shares of General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Evercore ISI dropped their price objective on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $69.71.

General Mills Stock Performance

NYSE:GIS traded up $0.28 during mid-day trading on Friday, reaching $69.03. 2,320,963 shares of the stock were exchanged, compared to its average volume of 4,033,532. The stock has a market capitalization of $38.53 billion, a P/E ratio of 16.02, a P/E/G ratio of 3.83 and a beta of 0.09. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $74.45. The company has a 50 day simple moving average of $65.90 and a 200-day simple moving average of $67.02. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The business had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period last year, the firm posted $1.12 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. Analysts anticipate that General Mills, Inc. will post 4.49 earnings per share for the current fiscal year.

General Mills Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.60 dividend. The ex-dividend date was Wednesday, July 10th. This is a positive change from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 dividend on an annualized basis and a yield of 3.48%. General Mills’s payout ratio is currently 55.68%.

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.