Harbour Investments Inc. Sells 1,406 Shares of General Mills, Inc. (NYSE:GIS)

Harbour Investments Inc. trimmed its holdings in General Mills, Inc. (NYSE:GIS) by 4.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,935 shares of the company’s stock after selling 1,406 shares during the quarter. Harbour Investments Inc.’s holdings in General Mills were worth $2,020,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GIS. Optimist Retirement Group LLC bought a new stake in General Mills in the 4th quarter valued at $1,171,000. State Board of Administration of Florida Retirement System lifted its stake in shares of General Mills by 5.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock valued at $48,177,000 after buying an additional 38,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in General Mills by 16.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock worth $48,711,000 after buying an additional 96,712 shares in the last quarter. Apollon Wealth Management LLC increased its stake in General Mills by 122.7% during the fourth quarter. Apollon Wealth Management LLC now owns 23,675 shares of the company’s stock valued at $1,542,000 after acquiring an additional 13,043 shares during the period. Finally, Mitchell Sinkler & Starr PA raised its holdings in General Mills by 164.1% in the 4th quarter. Mitchell Sinkler & Starr PA now owns 18,182 shares of the company’s stock valued at $1,307,000 after acquiring an additional 11,298 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Price Performance

GIS stock traded up $0.04 during midday trading on Tuesday, reaching $71.03. 1,930,179 shares of the company’s stock traded hands, compared to its average volume of 3,969,427. The company has a 50-day simple moving average of $66.43 and a two-hundred day simple moving average of $67.31. 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, Inc. has a 1-year low of $60.33 and a 1-year high of $74.45. The company has a market cap of $39.64 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 3.83 and a beta of 0.09.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share 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 quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $1.12 earnings per share. On average, analysts anticipate that General Mills, Inc. will post 4.49 earnings per share for the current year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a $0.60 dividend. The ex-dividend date was Wednesday, July 10th. This is an increase from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.38%. General Mills’s payout ratio is currently 55.68%.

Analyst Upgrades and Downgrades

GIS has been the topic of several recent research reports. Stifel Nicolaus decreased their price objective on General Mills from $77.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Thursday, June 27th. Bank of America dropped their price objective 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. Mizuho decreased their target price 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. Finally, Evercore ISI dropped their price target on shares of 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. 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’s stock. Based on data from MarketBeat.com, General Mills currently has an average rating of “Hold” and a consensus target price of $69.71.

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.