Bar Harbor Wealth Management Has $1.26 Million Stock Position in General Mills, Inc. (NYSE:GIS)

Bar Harbor Wealth Management lowered its stake in General Mills, Inc. (NYSE:GIS) by 2.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,096 shares of the company’s stock after selling 468 shares during the period. Bar Harbor Wealth Management’s holdings in General Mills were worth $1,263,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its stake in shares of General Mills by 0.9% during the fourth quarter. Fisher Asset Management LLC now owns 111,233 shares of the company’s stock valued at $7,246,000 after purchasing an additional 978 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in General Mills during the 4th quarter worth approximately $764,000. Mather Group LLC. bought a new stake in General Mills during the 1st quarter worth approximately $141,000. Rise Advisors LLC grew its stake in shares of General Mills by 199.3% in the first quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after purchasing an additional 273 shares during the last quarter. Finally, American National Bank grew its position in shares of General Mills by 91.2% in the 1st quarter. American National Bank now owns 2,048 shares of the company’s stock valued at $143,000 after buying an additional 977 shares during the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on GIS. Mizuho reduced their price objective on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. lifted their price objective on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday. TD Cowen upped their target price on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Wells Fargo & Company lifted their target price on General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. Finally, Piper Sandler boosted their price target on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.00.

Insider Transactions at General Mills

In other news, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the sale, the chief accounting officer now directly owns 14,813 shares in the company, valued at $1,055,870.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Mark A. Pallot sold 8,083 shares of General Mills stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the sale, the chief accounting officer now directly owns 14,813 shares in the company, valued at $1,055,870.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the sale, the insider now owns 128,664 shares in the company, valued at $9,571,314.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,055 shares of company stock worth $1,467,311 in the last ninety days. Company insiders own 0.24% of the company’s stock.

General Mills Price Performance

GIS opened at $70.67 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The company has a market capitalization of $39.44 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 3.71 and a beta of 0.10. The firm’s fifty day moving average price is $72.34 and its two-hundred day moving average price is $69.22. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.09 EPS. As a group, analysts anticipate that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio is 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.