Harbour Trust & Investment Management Co Sells 2,814 Shares of General Mills, Inc. (NYSE:GIS)

Harbour Trust & Investment Management Co lowered its stake in General Mills, Inc. (NYSE:GIS) by 11.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,849 shares of the company’s stock after selling 2,814 shares during the period. Harbour Trust & Investment Management Co’s holdings in General Mills were worth $1,319,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GIS. MeadowBrook Investment Advisors LLC bought a new stake in shares of General Mills during the fourth quarter valued at approximately $27,000. Rise Advisors LLC boosted its holdings in shares of General Mills by 199.3% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after buying an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in shares of General Mills by 409.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after buying an additional 336 shares during the period. RFP Financial Group LLC increased its stake in shares of General Mills by 66.3% in the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after acquiring an additional 173 shares in the last quarter. Finally, Perkins Coie Trust Co lifted its position in General Mills by 769.2% during the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Bank of America decreased their target price on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Stifel Nicolaus lowered their price objective on General Mills from $77.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. Citigroup cut their target price on General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Evercore ISI lowered their price target on General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research report on Friday, June 28th. Finally, Mizuho cut 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 report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $69.71.

General Mills Price Performance

NYSE GIS traded up $0.04 on Thursday, reaching $70.67. The company had a trading volume of 1,820,687 shares, compared to its average volume of 4,007,567. The firm’s 50 day moving average price is $66.12 and its 200 day moving average price is $67.15. General Mills, Inc. has a 12 month low of $60.33 and a 12 month high of $74.45. The stock has a market capitalization of $39.44 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 3.83 and a beta of 0.09. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 26th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.02. The company had revenue of $4.71 billion during the quarter, compared to analyst estimates of $4.85 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.12 earnings per share. As a group, equities analysts predict that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.60 per share. This is an increase from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.40%. General Mills’s dividend payout ratio is presently 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.