RNC Capital Management LLC Has $1.81 Million Holdings in General Mills, Inc. (NYSE:GIS)

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

Other large investors have also bought and sold shares of the company. Stratos Wealth Advisors LLC boosted its stake in General Mills by 1.9% in the third quarter. Stratos Wealth Advisors LLC now owns 11,278 shares of the company’s stock valued at $722,000 after buying an additional 213 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in General Mills in the fourth quarter valued at about $28,000. Adviser Investments LLC acquired a new stake in shares of General Mills during the third quarter valued at about $323,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of General Mills by 5.9% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 342,794 shares of the company’s stock valued at $21,935,000 after purchasing an additional 19,209 shares in the last quarter. Finally, Dark Forest Capital Management LP boosted its stake in shares of General Mills by 60.4% during the third quarter. Dark Forest Capital Management LP now owns 12,261 shares of the company’s stock valued at $785,000 after purchasing an additional 4,616 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GIS has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price target on General Mills from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Evercore ISI cut their price target on General Mills from $75.00 to $72.00 and set an “in-line” rating on the stock in a research note on Monday, December 11th. Citigroup initiated coverage on General Mills in a research note on Thursday, February 1st. They set a “neutral” rating and a $67.00 price target on the stock. HSBC lifted their price target on General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Finally, Piper Sandler lowered their price objective on General Mills from $77.00 to $76.00 and set an “overweight” rating for the company in a research report on Friday, December 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $72.18.

General Mills Trading Up 1.9 %

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

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

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.36 dividend on an annualized basis and a yield of 3.39%. General Mills’s dividend payout ratio (DPR) is presently 54.13%.

Insider Buying and Selling at General Mills

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

General Mills Company 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.