General Mills, Inc. (NYSE:GIS) Shares Sold by First Hawaiian Bank

Posted by Defense World Staff on Mar 25th, 2023

First Hawaiian Bank decreased its position in General Mills, Inc. (NYSE:GIS – Get Rating) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,615 shares of the company’s stock after selling 190 shares during the period. First Hawaiian Bank’s holdings in General Mills were worth $303,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GIS. Almanack Investment Partners LLC. acquired a new stake in shares of General Mills during the 3rd quarter valued at about $28,000. Capital Analysts LLC grew its position in shares of General Mills by 95.0% during the 2nd quarter. Capital Analysts LLC now owns 390 shares of the company’s stock valued at $29,000 after acquiring an additional 190 shares during the period. Selway Asset Management acquired a new stake in shares of General Mills during the 3rd quarter valued at about $31,000. TD Capital Management LLC acquired a new stake in shares of General Mills during the 3rd quarter valued at about $33,000. Finally, Carolinas Wealth Consulting LLC grew its position in shares of General Mills by 50.7% during the 3rd quarter. Carolinas Wealth Consulting LLC now owns 428 shares of the company’s stock valued at $33,000 after acquiring an additional 144 shares during the period. Institutional investors and hedge funds own 74.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on General Mills from $84.00 to $86.00 in a research report on Friday. StockNews.com upgraded General Mills from a “hold” rating to a “buy” rating in a research report on Friday. Wells Fargo & Company lifted their price objective on General Mills from $88.00 to $89.00 and gave the stock an “equal weight” rating in a report on Friday. Stifel Nicolaus lifted their price objective on General Mills from $82.00 to $84.00 and gave the stock a “hold” rating in a report on Wednesday, February 22nd. Finally, Piper Sandler lifted their price objective on General Mills from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, December 15th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $83.13.

General Mills Stock Up 3.2 %

GIS stock opened at $84.80 on Friday. The firm has a market cap of $50.00 billion, a PE ratio of 17.70, a PEG ratio of 2.58 and a beta of 0.28. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.35 and a current ratio of 0.58. The firm’s 50 day moving average price is $78.60 and its 200-day moving average price is $80.05. General Mills, Inc. has a one year low of $64.94 and a one year high of $88.34.

General Mills (NYSE:GIS – Get Rating) last released its quarterly earnings results on Thursday, March 23rd. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.91 by $0.06. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $4.97 billion. General Mills had a net margin of 15.02% and a return on equity of 24.09%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.84 EPS. On average, equities research analysts anticipate that General Mills, Inc. will post 4.18 EPS for the current year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Thursday, April 6th. General Mills’s payout ratio is 45.09%.

Insider Buying and Selling at General Mills

In other General Mills news, CAO Mark A. Pallot sold 1,955 shares of the business’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $85.99, for a total value of $168,110.45. Following the sale, the chief accounting officer now owns 17,146 shares of the company’s stock, valued at $1,474,384.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other General Mills news, CAO Mark A. Pallot sold 1,955 shares of the business’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $85.99, for a total value of $168,110.45. Following the sale, the chief accounting officer now owns 17,146 shares of the company’s stock, valued at $1,474,384.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathon Nudi sold 10,894 shares of the business’s stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $84.49, for a total value of $920,434.06. Following the completion of the sale, the insider now directly owns 82,784 shares in the company, valued at approximately $6,994,420.16. The disclosure for this sale can be found here. Insiders have sold a total of 40,006 shares of company stock valued at $3,393,359 over the last quarter. 0.67% of the stock is owned by company insiders.

About General Mills

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General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. The firm operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet, and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.