General Mills, Inc. (NYSE:GIS) Position Trimmed by RNC Capital Management LLC

RNC Capital Management LLC decreased its holdings in shares of General Mills, Inc. (NYSE:GIS) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,834 shares of the company’s stock after selling 1,145 shares during the period. RNC Capital Management LLC’s holdings in General Mills were worth $1,813,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. FWL Investment Management LLC bought a new position in shares of General Mills during the fourth quarter worth about $25,000. Operose Advisors LLC grew its position in shares of General Mills by 214.1% during the third quarter. Operose Advisors LLC now owns 402 shares of the company’s stock worth $26,000 after acquiring an additional 274 shares during the last quarter. Intrepid Capital Management Inc. bought a new position in shares of General Mills during the second quarter worth about $28,000. Bruce G. Allen Investments LLC bought a new position in shares of General Mills during the fourth quarter worth about $28,000. Finally, Almanack Investment Partners LLC. bought a new position in shares of General Mills during the third quarter worth about $28,000. Institutional investors own 75.71% of the company’s stock.

Insider Activity

In other news, insider Jonathon Nudi sold 7,671 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $64.15, for a total value of $492,094.65. Following the transaction, the insider now owns 102,924 shares in the company, valued at approximately $6,602,574.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jeffrey L. Harmening sold 60,056 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $64.44, for a total value of $3,870,008.64. Following the transaction, the chief executive officer now owns 318,483 shares in the company, valued at $20,523,044.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathon Nudi sold 7,671 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $64.15, for a total value of $492,094.65. Following the completion of the transaction, the insider now owns 102,924 shares in the company, valued at approximately $6,602,574.60. The disclosure for this sale can be found here. Insiders have sold 77,782 shares of company stock worth $5,057,820 in the last 90 days. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

GIS has been the subject of several recent research reports. Barclays upped their price target on shares of General Mills from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. Piper Sandler decreased their target price on shares of General Mills from $77.00 to $76.00 and set an “overweight” rating for the company in a research report on Friday, December 15th. Evercore ISI decreased their target price on shares of General Mills from $75.00 to $72.00 and set an “in-line” rating for the company in a research report on Monday, December 11th. Bank of America increased their target price on shares of General Mills from $68.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, March 21st. Finally, Citigroup started coverage on shares of General Mills in a research report on Thursday, February 1st. They issued a “neutral” rating and a $67.00 target price for the company. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, General Mills has a consensus rating of “Hold” and a consensus price target of $72.18.

General Mills Price Performance

GIS stock opened at $69.66 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.14. General Mills, Inc. has a one year low of $60.33 and a one year high of $90.89. The firm has a market capitalization of $39.56 billion, a PE ratio of 15.98, a P/E/G ratio of 2.36 and a beta of 0.15. The firm has a 50-day moving average of $65.01 and a two-hundred day moving average of $64.79.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.12. General Mills had a net margin of 12.66% and a return on equity of 26.84%. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $4.97 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.39%. General Mills’s dividend payout ratio is 54.13%.

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.