Harbour Trust & Investment Management Co Sells 1,405 Shares of General Mills, Inc. $GIS

Harbour Trust & Investment Management Co trimmed its position in shares of General Mills, Inc. (NYSE:GIS) by 9.6% during the 2nd quarter, Holdings Channel reports. The firm owned 13,245 shares of the company’s stock after selling 1,405 shares during the period. Harbour Trust & Investment Management Co’s holdings in General Mills were worth $686,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GIS. Garde Capital Inc. raised its stake 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 purchasing an additional 264 shares during the period. Armstrong Advisory Group Inc. bought a new stake in shares of General Mills during the second quarter valued at approximately $32,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of General Mills during the first quarter valued at approximately $34,000. GKV Capital Management Co. Inc. bought a new stake in General Mills in the 1st quarter valued at $34,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in General Mills in the 1st quarter valued at $37,000. 75.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the transaction, the insider directly owned 66,593 shares in the company, valued at $3,332,313.72. This represents a 5.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on GIS shares. Jefferies Financial Group reduced their price target on shares of General Mills from $51.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, September 8th. Stifel Nicolaus reduced their target price on General Mills from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Barclays reduced their target price on General Mills from $54.00 to $52.00 and set an “equal weight” rating on the stock in a report on Friday, September 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Mills from $52.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, September 18th. Finally, Wells Fargo & Company set a $53.00 price objective on General Mills and gave the stock an “equal weight” rating in a research note on Thursday, June 26th. Four research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, General Mills has a consensus rating of “Hold” and a consensus target price of $55.82.

General Mills Stock Performance

Shares of General Mills stock opened at $48.18 on Tuesday. The stock’s fifty day moving average is $49.76 and its two-hundred day moving average is $52.59. The company has a market capitalization of $25.70 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 1.24 and a beta of -0.03. 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 $48.13 and a 52 week high of $72.55.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.General Mills’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 EPS. As a group, analysts expect that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.61 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.1%. General Mills’s dividend payout ratio is presently 46.12%.

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 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.