Bank of Hawaii Has $943,000 Holdings in General Mills, Inc. (NYSE:GIS)

Bank of Hawaii cut its stake in shares of General Mills, Inc. (NYSE:GIS) by 19.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,775 shares of the company’s stock after selling 3,135 shares during the period. Bank of Hawaii’s holdings in General Mills were worth $943,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Values First Advisors Inc. purchased a new position in General Mills during the third quarter worth about $27,000. First Foundation Advisors grew its holdings in shares of General Mills by 400.0% in the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. Planning Capital Management Corp increased its position in shares of General Mills by 61.5% during the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after acquiring an additional 193 shares during the last quarter. Beacon Capital Management LLC lifted its holdings in General Mills by 47.5% during the first quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock worth $39,000 after acquiring an additional 180 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new position in General Mills in the third quarter worth $44,000. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GIS shares. Bank of America raised their target price on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. The Goldman Sachs Group started coverage on shares of General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 price objective on the stock. Piper Sandler increased their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Barclays raised their price target on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company dropped their price objective on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $72.67.

General Mills Price Performance

General Mills stock opened at $65.00 on Monday. The business has a 50-day simple moving average of $69.64 and a 200 day simple moving average of $68.62. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90. The stock has a market cap of $36.09 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 3.38 and a beta of 0.11. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the prior year, the business earned $1.09 earnings per share. General Mills’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, research analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.60 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.40 annualized dividend and a yield of 3.69%. General Mills’s dividend payout ratio (DPR) is presently 57.14%.

Insider Buying and Selling at General Mills

In related news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction on Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the transaction, the insider now owns 128,664 shares in the company, valued at $9,571,314.96. This trade represents a 6.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the completion of the sale, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,555 shares of company stock worth $4,721,336 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

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 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.