Bar Harbor Wealth Management Raises Holdings in General Mills, Inc. (NYSE:GIS)

Bar Harbor Wealth Management lifted its position in General Mills, Inc. (NYSE:GIS) by 4.1% during the 4th quarter, HoldingsChannel reports. The firm owned 17,789 shares of the company’s stock after acquiring an additional 693 shares during the quarter. Bar Harbor Wealth Management’s holdings in General Mills were worth $1,134,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Values First Advisors Inc. purchased a new stake in shares of General Mills during the 3rd quarter worth approximately $27,000. Planning Capital Management Corp raised its stake in General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after purchasing an additional 193 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in General Mills during the third quarter valued at $44,000. Rise Advisors LLC grew its stake in shares of General Mills by 46.7% in the 3rd quarter. Rise Advisors LLC now owns 606 shares of the company’s stock worth $45,000 after buying an additional 193 shares in the last quarter. Finally, Fairscale Capital LLC bought a new stake in shares of General Mills in the 2nd quarter worth about $42,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on GIS. Piper Sandler lifted their price target on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. boosted their target price on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Stifel Nicolaus lowered their price target on General Mills from $82.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company cut their price objective on shares of General Mills from $68.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays lowered their target price on shares of General Mills from $74.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $71.31.

Insiders Place Their Bets

In other General Mills news, Director Maria Sastre sold 1,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the completion of the sale, the director now directly owns 23,013 shares in the company, valued at approximately $1,465,007.58. This trade represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Joseph Gallagher sold 1,041 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $64.50, for a total value of $67,144.50. Following the sale, the insider now owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,624 shares of company stock worth $3,897,326 over the last 90 days. Company insiders own 0.26% of the company’s stock.

General Mills Trading Up 1.5 %

GIS traded up $0.88 during trading on Monday, hitting $59.38. 4,489,051 shares of the stock were exchanged, compared to its average volume of 4,433,379. General Mills, Inc. has a 1 year low of $58.27 and a 1 year high of $75.90. The firm has a market cap of $32.73 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 3.47 and a beta of 0.11. The firm has a 50 day simple moving average of $64.51 and a 200 day simple moving average of $67.70. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.18. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. As a group, equities analysts expect that General Mills, Inc. will post 4.5 EPS for the current year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is 52.17%.

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.