General Mills, Inc. (NYSE:GIS) Shares Sold by Harbour Trust & Investment Management Co

Harbour Trust & Investment Management Co cut its stake in General Mills, Inc. (NYSE:GIS) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,426 shares of the company’s stock after selling 423 shares during the period. Harbour Trust & Investment Management Co’s holdings in General Mills were worth $1,508,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GIS. Values First Advisors Inc. acquired a new position in General Mills during the 3rd quarter valued at about $27,000. Assenagon Asset Management S.A. increased its stake in shares of General Mills by 420.6% in the third quarter. Assenagon Asset Management S.A. now owns 222,427 shares of the company’s stock valued at $16,426,000 after purchasing an additional 179,703 shares during the period. IFM Investors Pty Ltd boosted its position in shares of General Mills by 1.0% during the third quarter. IFM Investors Pty Ltd now owns 114,390 shares of the company’s stock worth $8,448,000 after buying an additional 1,142 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in General Mills by 10.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 41,697 shares of the company’s stock worth $3,079,000 after buying an additional 3,988 shares in the last quarter. Finally, YHB Investment Advisors Inc. acquired a new stake in General Mills in the 3rd quarter valued at approximately $209,000. 75.71% of the stock is currently owned by institutional investors.

Insider Activity at General Mills

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

General Mills Price Performance

GIS stock opened at $68.60 on Friday. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The firm has a 50-day moving average of $72.33 and a two-hundred day moving average of $69.19. The firm has a market capitalization of $38.29 billion, a PE ratio of 15.92, a P/E/G ratio of 3.71 and a beta of 0.10. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. On average, analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.50%. General Mills’s dividend payout ratio is 55.68%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 price target for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research report on Thursday, September 19th. Piper Sandler raised their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Argus reaffirmed a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Finally, Wells Fargo & Company raised their price objective on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, General Mills has a consensus rating of “Hold” and an average price target of $73.00.

General Mills Company 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.