Bar Harbor Wealth Management Buys 693 Shares of General Mills, Inc. (NYSE:GIS)

Bar Harbor Wealth Management raised its position in shares of General Mills, Inc. (NYSE:GIS) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GIS. Nordea Investment Management AB increased its stake in shares of General Mills by 64.5% in the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after acquiring an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of General Mills by 105.2% during the third quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after purchasing an additional 2,926,232 shares in the last quarter. State Street Corp boosted its position in shares of General Mills by 9.4% in the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after purchasing an additional 2,867,678 shares in the last quarter. Wulff Hansen & CO. grew its stake in shares of General Mills by 6,140.4% in the 2nd quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock worth $59,807,000 after buying an additional 930,271 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of General Mills by 6,114.0% in the 3rd quarter. International Assets Investment Management LLC now owns 450,451 shares of the company’s stock worth $33,266,000 after buying an additional 443,202 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Activity

In other news, 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 transaction, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the sale, the chief executive officer now owns 355,328 shares of the company’s stock, valued at $24,379,054.08. This represents a 11.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,624 shares of company stock valued at $3,897,326 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.

General Mills Stock Performance

GIS stock traded up $0.88 during midday trading on Monday, reaching $59.38. 4,489,051 shares of the company’s stock traded hands, compared to its average volume of 4,433,379. 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, Inc. has a 52-week low of $58.27 and a 52-week high of $75.90. The stock has a market cap of $32.73 billion, a P/E ratio of 14.14, a PEG ratio of 3.47 and a beta of 0.11. The stock’s 50-day moving average is $64.51 and its 200 day moving average is $67.70.

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

General Mills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.04%. General Mills’s payout ratio is currently 52.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GIS shares. JPMorgan Chase & Co. boosted their target price on General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Stifel Nicolaus reduced their price objective on shares of General Mills from $82.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Piper Sandler increased their price target on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Finally, Wells Fargo & Company decreased their price objective on shares of General Mills from $68.00 to $64.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $71.31.

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.