Central Pacific Bank Trust Division Acquires New Holdings in General Mills, Inc. (NYSE:GIS)

Central Pacific Bank Trust Division purchased a new position in General Mills, Inc. (NYSE:GIS) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 20,480 shares of the company’s stock, valued at approximately $1,436,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. increased its position in General Mills by 13.7% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 28,437 shares of the company’s stock worth $1,990,000 after buying an additional 3,437 shares during the period. Patron Partners LLC bought a new position in General Mills in the 1st quarter worth approximately $203,000. Mutual Advisors LLC increased its position in shares of General Mills by 439.0% during the first quarter. Mutual Advisors LLC now owns 33,928 shares of the company’s stock valued at $2,374,000 after purchasing an additional 27,633 shares during the period. Financial Counselors Inc. increased its position in shares of General Mills by 0.3% during the first quarter. Financial Counselors Inc. now owns 56,652 shares of the company’s stock valued at $3,964,000 after purchasing an additional 165 shares during the period. Finally, Peregrine Asset Advisers Inc. increased its position in shares of General Mills by 494.2% during the first quarter. Peregrine Asset Advisers Inc. now owns 58,282 shares of the company’s stock valued at $4,078,000 after purchasing an additional 48,474 shares during the period. 75.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. HSBC boosted their price objective on General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, March 21st. Morgan Stanley boosted their price objective on General Mills from $58.00 to $61.00 and gave the company an “underweight” rating in a research report on Thursday, March 21st. Bank of America lowered their price objective on General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Sanford C. Bernstein upgraded General Mills from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $62.00 to $70.00 in a research report on Wednesday, May 15th. Finally, Mizuho decreased their price target on General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, General Mills presently has a consensus rating of “Hold” and a consensus price target of $70.00.

General Mills Trading Up 0.3 %

Shares of GIS stock traded up $0.19 on Tuesday, reaching $62.69. 3,820,574 shares of the stock were exchanged, compared to its average volume of 4,171,151. The stock has a market cap of $34.99 billion, a PE ratio of 14.55, a P/E/G ratio of 3.55 and a beta of 0.09. General Mills, Inc. has a one year low of $60.33 and a one year high of $77.63. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.65 and a quick ratio of 0.38. The stock has a 50 day moving average price of $67.55 and a 200 day moving average price of $66.63.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. The company had revenue of $4.71 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.12 earnings per share. Equities research analysts forecast that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.83%. This is an increase from General Mills’s previous quarterly dividend of $0.59. General Mills’s payout ratio is presently 54.76%.

Insider Transactions at General Mills

In other news, insider Werner Lanette Shaffer sold 710 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $70.57, for a total transaction of $50,104.70. Following the completion of the sale, the insider now owns 17,397 shares in the company, valued at $1,227,706.29. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

General Mills 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 salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.