Bank of Hawaii lowered its position in General Mills, Inc. (NYSE:GIS) by 7.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,924 shares of the company’s stock after selling 6,244 shares during the period. Bank of Hawaii’s holdings in General Mills were worth $4,716,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Boltwood Capital Management raised its stake in General Mills by 3.6% in the first quarter. Boltwood Capital Management now owns 18,517 shares of the company’s stock worth $1,092,000 after buying an additional 650 shares during the last quarter. West Oak Capital LLC raised its stake in General Mills by 1.9% in the first quarter. West Oak Capital LLC now owns 20,960 shares of the company’s stock worth $1,237,000 after buying an additional 400 shares during the last quarter. Manning & Napier Advisors LLC raised its stake in General Mills by 6.0% in the first quarter. Manning & Napier Advisors LLC now owns 103,428 shares of the company’s stock worth $6,102,000 after buying an additional 5,873 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in General Mills by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 732,239 shares of the company’s stock worth $43,210,000 after buying an additional 23,267 shares during the last quarter. Finally, Moreno Evelyn V raised its stake in General Mills by 20.5% in the first quarter. Moreno Evelyn V now owns 41,745 shares of the company’s stock worth $2,463,000 after buying an additional 7,100 shares during the last quarter. 71.46% of the stock is owned by institutional investors and hedge funds.
Shares of General Mills, Inc. (GIS) traded down 0.75% during mid-day trading on Friday, hitting $57.14. 4,595,632 shares of the stock traded hands. General Mills, Inc. has a one year low of $53.24 and a one year high of $71.96. The stock has a 50 day moving average price of $55.23 and a 200-day moving average price of $57.76. The company has a market cap of $32.98 billion, a P/E ratio of 20.63 and a beta of 0.61.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, June 28th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 EPS. On average, analysts forecast that General Mills, Inc. will post $3.11 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a $0.49 dividend. This is a positive change from General Mills’s previous quarterly dividend of $0.48. This represents a $1.96 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Thursday, July 6th. General Mills’s payout ratio is currently 70.76%.
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A number of research firms have recently issued reports on GIS. BidaskClub raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. BMO Capital Markets reissued a “hold” rating and set a $67.00 price target on shares of General Mills in a research report on Thursday, June 15th. Royal Bank Of Canada set a $65.00 price target on shares of General Mills and gave the company a “hold” rating in a research report on Monday, April 24th. Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Susquehanna Bancshares Inc reissued a “neutral” rating and set a $59.00 price target (down previously from $62.00) on shares of General Mills in a research report on Tuesday, May 30th. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the company’s stock. General Mills presently has an average rating of “Hold” and a consensus price target of $59.93.
About General Mills
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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