Bar Harbor Wealth Management Sells 550 Shares of General Mills, Inc. $GIS

Bar Harbor Wealth Management decreased its stake in shares of General Mills, Inc. (NYSE:GIS) by 3.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 18,028 shares of the company’s stock after selling 550 shares during the period. Bar Harbor Wealth Management’s holdings in General Mills were worth $934,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Garde Capital Inc. lifted its holdings in General Mills by 101.5% during the 2nd quarter. Garde Capital Inc. now owns 524 shares of the company’s stock valued at $27,000 after buying an additional 264 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in General Mills during the 1st quarter valued at about $34,000. GKV Capital Management Co. Inc. bought a new stake in General Mills during the 1st quarter valued at about $34,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in General Mills during the 1st quarter valued at about $37,000. Finally, Pingora Partners LLC increased its position in General Mills by 416.7% during the 1st quarter. Pingora Partners LLC now owns 620 shares of the company’s stock valued at $37,000 after purchasing an additional 500 shares during the period. Institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

GIS has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of General Mills in a research report on Wednesday. Zacks Research raised shares of General Mills from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Bernstein Bank cut their target price on shares of General Mills from $55.00 to $54.00 and set a “market perform” rating on the stock in a research report on Thursday, September 18th. HSBC cut their target price on shares of General Mills from $59.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, September 18th. Finally, Bank of America cut their target price on shares of General Mills from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $55.82.

Insiders Place Their Bets

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the sale, the insider owned 66,593 shares of the company’s stock, valued at approximately $3,332,313.72. The trade was a 5.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.30% of the company’s stock.

General Mills Stock Down 1.1%

Shares of General Mills stock opened at $49.20 on Friday. The firm’s 50 day moving average price is $49.77 and its 200-day moving average price is $52.81. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. General Mills, Inc. has a 52-week low of $48.29 and a 52-week high of $72.55. The company has a market cap of $26.24 billion, a P/E ratio of 9.30, a PEG ratio of 1.26 and a beta of -0.03.

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

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.0%. General Mills’s payout ratio is presently 46.12%.

General Mills Company 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.