Bank of Hawaii trimmed its stake in General Mills, Inc. (NYSE:GIS) by 9.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,656 shares of the company’s stock after selling 7,268 shares during the quarter. Bank of Hawaii’s holdings in General Mills were worth $4,026,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GIS. Private Advisor Group LLC lifted its stake in shares of General Mills by 21.8% during the 2nd quarter. Private Advisor Group LLC now owns 55,573 shares of the company’s stock valued at $2,968,000 after buying an additional 9,952 shares in the last quarter. Boston Advisors LLC increased its holdings in General Mills by 1.8% during the 2nd quarter. Boston Advisors LLC now owns 20,859 shares of the company’s stock worth $1,156,000 after acquiring an additional 375 shares during the period. Bfsg LLC bought a new stake in General Mills during the 1st quarter worth approximately $2,843,000. LVW Advisors LLC bought a new stake in General Mills during the 2nd quarter worth approximately $2,515,000. Finally, PVG Asset Management Corp bought a new stake in General Mills during the 1st quarter worth approximately $6,352,000. Hedge funds and other institutional investors own 69.88% of the company’s stock.
A number of brokerages have recently commented on GIS. Piper Jaffray Companies set a $56.00 price target on shares of General Mills and gave the stock a “sell” rating in a report on Monday, August 7th. BidaskClub raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Societe Generale raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of General Mills in a report on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $56.60.
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Shares of General Mills, Inc. (NYSE GIS) opened at $52.97 on Tuesday. General Mills, Inc. has a 12 month low of $49.65 and a 12 month high of $64.06. The company has a market cap of $30,281.07, a P/E ratio of 17.70, a PEG ratio of 1.99 and a beta of 0.63. The company has a quick ratio of 0.47, a current ratio of 0.74 and a debt-to-equity ratio of 1.83.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.79 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 EPS. research analysts anticipate that General Mills, Inc. will post 3.1 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Friday, October 6th. General Mills’s dividend payout ratio is currently 70.25%.
General Mills Profile
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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