Harbour Investments Inc. Decreases Position in General Mills, Inc. (NYSE:GIS)

Harbour Investments Inc. decreased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,098 shares of the company’s stock after selling 1,502 shares during the quarter. Harbour Investments Inc.’s holdings in General Mills were worth $1,919,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GIS. Endeavor Private Wealth Inc. purchased a new stake in General Mills during the fourth quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC purchased a new stake in General Mills during the fourth quarter worth approximately $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in General Mills during the fourth quarter worth approximately $31,000. Bank of Jackson Hole Trust purchased a new stake in General Mills during the fourth quarter worth approximately $34,000. Finally, Heck Capital Advisors LLC acquired a new position in General Mills during the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

GIS has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research report on Monday. TD Cowen cut their price target on General Mills from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Jefferies Financial Group lifted their price target on General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Wells Fargo & Company cut their price target on General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Finally, Bank of America cut their price target on General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $67.71.

General Mills Stock Up 2.4 %

Shares of NYSE:GIS opened at $61.01 on Tuesday. The stock’s fifty day simple moving average is $60.09 and its 200-day simple moving average is $65.55. General Mills, Inc. has a 52-week low of $55.15 and a 52-week high of $75.90. The company has a market capitalization of $33.63 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.94 and a beta of 0.06. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 3.93%. General Mills’s dividend payout ratio (DPR) is presently 52.17%.

Insider Buying and Selling

In other General Mills news, insider Paul Joseph Gallagher sold 1,041 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the sale, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. This represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey L. Harmening sold 11,379 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the sale, the chief executive officer now owns 353,346 shares of the company’s stock, valued at $22,967,490. This represents a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

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.