Canopy Partners LLC Buys 207 Shares of General Mills, Inc. (NYSE:GIS)

Canopy Partners LLC grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 4.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,212 shares of the company’s stock after buying an additional 207 shares during the period. Canopy Partners LLC’s holdings in General Mills were worth $332,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Centiva Capital LP bought a new position in General Mills during the 3rd quarter valued at about $272,000. IHT Wealth Management LLC grew its holdings in General Mills by 27.2% during the 3rd quarter. IHT Wealth Management LLC now owns 7,662 shares of the company’s stock worth $567,000 after acquiring an additional 1,639 shares during the period. Quantinno Capital Management LP lifted its stake in General Mills by 3.3% in the third quarter. Quantinno Capital Management LP now owns 33,463 shares of the company’s stock valued at $2,471,000 after buying an additional 1,069 shares during the period. Kovitz Investment Group Partners LLC acquired a new stake in General Mills in the third quarter worth $989,000. Finally, EP Wealth Advisors LLC grew its position in shares of General Mills by 94.7% in the 3rd quarter. EP Wealth Advisors LLC now owns 42,113 shares of the company’s stock valued at $3,110,000 after purchasing an additional 20,484 shares during the period. 75.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Stifel Nicolaus decreased their target price on shares of General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Barclays lowered their target price on shares of General Mills from $68.00 to $65.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 18th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a research note on Monday, March 17th. Finally, Citigroup dropped their target price on shares of General Mills from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $65.69.

General Mills Price Performance

NYSE:GIS opened at $59.64 on Monday. 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 has a market cap of $32.87 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 1.94 and a beta of 0.15. General Mills, Inc. has a 52 week low of $55.15 and a 52 week high of $75.90. The firm’s 50-day simple moving average is $59.97 and its 200 day simple moving average is $64.11.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.99 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 EPS. As a group, sell-side analysts predict that General Mills, Inc. will post 4.36 earnings per share for the current 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 given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s dividend payout ratio is presently 52.75%.

Insider Buying and Selling

In other news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the sale, the chief executive officer now directly owns 353,346 shares of the company’s stock, valued at $22,967,490. The trade was a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is owned by 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.