Coastal Investment Advisors Inc. Raises Stake in General Mills, Inc. (NYSE:GIS)


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Coastal Investment Advisors Inc. raised its position in General Mills, Inc. (NYSE:GIS) by 148.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,685 shares of the company’s stock after acquiring an additional 6,974 shares during the quarter. Coastal Investment Advisors Inc.’s holdings in General Mills were worth $687,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Redpoint Investment Management Pty Ltd grew its holdings in General Mills by 19.5% during the fourth quarter. Redpoint Investment Management Pty Ltd now owns 19,942 shares of the company’s stock worth $1,173,000 after acquiring an additional 3,248 shares during the period. Pinnacle Financial Partners Inc. grew its holdings in General Mills by 0.8% during the fourth quarter. Pinnacle Financial Partners Inc. now owns 24,511 shares of the company’s stock worth $1,442,000 after acquiring an additional 185 shares during the period. Pinnacle Bank grew its holdings in General Mills by 15.8% during the fourth quarter. Pinnacle Bank now owns 2,379 shares of the company’s stock worth $140,000 after acquiring an additional 324 shares during the period. Global Retirement Partners LLC grew its holdings in General Mills by 4.9% during the fourth quarter. Global Retirement Partners LLC now owns 6,352 shares of the company’s stock worth $374,000 after acquiring an additional 299 shares during the period. Finally, Benson Investment Management Company Inc. acquired a new position in General Mills during the fourth quarter worth about $3,607,000. Institutional investors own 68.29% of the company’s stock.

Shares of NYSE GIS opened at $55.39 on Thursday. General Mills, Inc. has a one year low of $46.59 and a one year high of $66.14. The firm has a market capitalization of $33.87 billion, a PE ratio of 14.81, a PEG ratio of 2.19 and a beta of 0.58. The company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $59.02 and a two-hundred day moving average price of $61.16.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 16th. The company reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.09. General Mills had a return on equity of 28.46% and a net margin of 12.78%. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the business earned $0.95 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Research analysts anticipate that General Mills, Inc. will post 3.61 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Friday, January 8th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Thursday, January 7th. General Mills’s dividend payout ratio (DPR) is presently 56.51%.

In other news, insider Sean N. Walker sold 9,062 shares of the firm’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $61.59, for a total transaction of $558,128.58. Following the completion of the sale, the insider now directly owns 66,793 shares of the company’s stock, valued at approximately $4,113,780.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn P. Ogrady sold 6,310 shares of the firm’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $60.77, for a total value of $383,458.70. Following the sale, the insider now directly owns 129,257 shares of the company’s stock, valued at $7,854,947.89. The disclosure for this sale can be found here. Insiders have sold a total of 20,585 shares of company stock valued at $1,246,704 over the last ninety days. Company insiders own 0.51% of the company’s stock.

A number of research firms recently issued reports on GIS. BidaskClub lowered General Mills from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 23rd. BMO Capital Markets reiterated a “hold” rating on shares of General Mills in a research report on Thursday, September 24th. CSFB upgraded General Mills to an “outperform” rating and set a $67.00 price target for the company in a research report on Friday, September 25th. Zacks Investment Research lowered General Mills from a “buy” rating to a “hold” rating and set a $62.00 price target for the company. in a research report on Monday, November 2nd. Finally, Jefferies Financial Group decreased their price target on General Mills from $64.00 to $59.00 and set a “hold” rating for the company in a research report on Tuesday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $63.71.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, snack bars, fruit snacks, nutrition bars, and savory snacks, as well as organic products, including refrigerated yogurt, frozen and shelf-stable vegetables, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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Institutional Ownership by Quarter for General Mills (NYSE:GIS)

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