RNC Capital Management LLC Has $1.61 Million Holdings in General Mills, Inc. (NYSE:GIS)

RNC Capital Management LLC cut its position in General Mills, Inc. (NYSE:GIS) by 5.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 25,301 shares of the company’s stock after selling 1,432 shares during the quarter. RNC Capital Management LLC’s holdings in General Mills were worth $1,613,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Values First Advisors Inc. acquired a new position in General Mills in the third quarter valued at about $27,000. Endeavor Private Wealth Inc. acquired a new position in General Mills in the fourth quarter valued at about $26,000. Planning Capital Management Corp boosted its position in General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after buying an additional 193 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of General Mills in the third quarter worth about $44,000. Finally, Heck Capital Advisors LLC bought a new position in shares of General Mills in the fourth quarter worth about $38,000. 75.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Maria Sastre sold 1,000 shares of General Mills stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the sale, the director now directly owns 23,013 shares in the company, valued at approximately $1,465,007.58. The trade was a 4.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the sale, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GIS. Wells Fargo & Company dropped their target price on shares of General Mills from $68.00 to $64.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Citigroup dropped their target price on shares of General Mills from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Thursday, December 19th. Bank of America raised shares of General Mills from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $78.00 to $80.00 in a research note on Friday, December 13th. Finally, Stifel Nicolaus dropped their target price on shares of General Mills from $78.00 to $72.00 and set a “buy” rating for the company in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $70.94.

General Mills Price Performance

Shares of GIS stock opened at $59.13 on Friday. General Mills, Inc. has a fifty-two week low of $57.94 and a fifty-two week high of $75.90. The business’s 50 day moving average price is $62.60 and its 200-day moving average price is $67.21. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.67 and a current ratio of 0.92. The firm has a market cap of $32.60 billion, a P/E ratio of 12.86, a P/E/G ratio of 3.88 and a beta of 0.10.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.14 billion. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.25 earnings per share. On average, equities research analysts anticipate that General Mills, Inc. will post 4.4 earnings per share for the current year.

General Mills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 annualized dividend and a yield of 4.06%. General Mills’s dividend payout ratio (DPR) is currently 52.17%.

About General Mills

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.