Bar Harbor Wealth Management Lowers Stock Position in General Mills, Inc. (NYSE:GIS)

Bar Harbor Wealth Management lowered its stake in shares of General Mills, Inc. (NYSE:GIS) by 12.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 17,940 shares of the company’s stock after selling 2,620 shares during the period. Bar Harbor Wealth Management’s holdings in General Mills were worth $1,169,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GIS. FWL Investment Management LLC purchased a new stake in General Mills during the fourth quarter worth about $25,000. Operose Advisors LLC grew its holdings in shares of General Mills by 214.1% in the third quarter. Operose Advisors LLC now owns 402 shares of the company’s stock valued at $26,000 after purchasing an additional 274 shares in the last quarter. Intrepid Capital Management Inc. acquired a new position in shares of General Mills in the second quarter valued at approximately $28,000. Bruce G. Allen Investments LLC purchased a new stake in General Mills during the 4th quarter worth approximately $28,000. Finally, Almanack Investment Partners LLC. acquired a new stake in General Mills during the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on GIS. Piper Sandler cut their price objective on General Mills from $77.00 to $76.00 and set an “overweight” rating on the stock in a research report on Friday, December 15th. JPMorgan Chase & Co. upped their price target on General Mills from $68.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Citigroup started coverage on General Mills in a research report on Thursday, February 1st. They issued a “neutral” rating and a $67.00 price target on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $72.00 price objective on shares of General Mills in a research report on Thursday, March 21st. Finally, Stifel Nicolaus raised their target price on shares of General Mills from $68.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, General Mills presently has a consensus rating of “Hold” and a consensus price target of $73.50.

Insider Activity at General Mills

In other news, insider Jonathon Nudi sold 7,671 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $64.15, for a total value of $492,094.65. Following the completion of the transaction, the insider now owns 102,924 shares in the company, valued at $6,602,574.60. The sale was disclosed in a document filed with the SEC, which is available at this link. In other General Mills news, CEO Jeffrey L. Harmening sold 60,056 shares of General Mills stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the transaction, the chief executive officer now directly owns 318,483 shares of the company’s stock, valued at $20,523,044.52. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jonathon Nudi sold 7,671 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $64.15, for a total transaction of $492,094.65. Following the completion of the sale, the insider now directly owns 102,924 shares of the company’s stock, valued at approximately $6,602,574.60. The disclosure for this sale can be found here. Insiders sold 77,782 shares of company stock valued at $5,057,820 in the last ninety days. Corporate insiders own 0.24% of the company’s stock.

General Mills Stock Performance

GIS traded down $0.80 during trading on Tuesday, hitting $68.34. The stock had a trading volume of 5,288,368 shares, compared to its average volume of 4,309,637. General Mills, Inc. has a twelve month low of $60.33 and a twelve month high of $90.89. The firm has a market capitalization of $38.81 billion, a P/E ratio of 15.86, a PEG ratio of 2.43 and a beta of 0.15. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.66. The company’s 50-day moving average price is $64.78 and its 200 day moving average price is $64.74.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.12. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same period in the prior year, the company posted $0.97 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts forecast that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Tuesday, April 9th. General Mills’s dividend payout ratio is currently 54.13%.

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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.