RNC Capital Management LLC Sells 18,002 Shares of General Mills, Inc. $GIS

Key Points

• RNC Capital Management LLC reduced its stake in General Mills, Inc. by 71.2%, selling 18,002 shares and holding 7,299 shares valued at approximately $436,000 after the sale.
• General Mills recently reported earnings per share (EPS) of $0.74, beating expectations, but experienced a 3.3% decrease in quarterly revenue compared to the previous year.
• The company announced a quarterly dividend of $0.61 per share, marking an increase from the prior dividend of $0.60, with a current dividend yield of 4.8%.

RNC Capital Management LLC trimmed its position in shares of General Mills, Inc. (NYSE:GIS - Free Report) by 71.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,299 shares of the company's stock after selling 18,002 shares during the period. RNC Capital Management LLC's holdings in General Mills were worth $436,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Victory Capital Management Inc. raised its position in General Mills by 7.3% during the first quarter. Victory Capital Management Inc. now owns 522,576 shares of the company's stock valued at $31,245,000 after purchasing an additional 35,494 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of General Mills by 7.8% in the first quarter. Commonwealth Equity Services LLC now owns 452,844 shares of the company's stock worth $27,076,000 after buying an additional 32,628 shares during the period. Rock Point Advisors LLC purchased a new position in shares of General Mills in the first quarter worth about $3,610,000. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in General Mills by 126.1% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 774,134 shares of the company's stock valued at $46,285,000 after purchasing an additional 431,693 shares during the period. Finally, Quantbot Technologies LP increased its holdings in General Mills by 978.0% during the 1st quarter. Quantbot Technologies LP now owns 134,914 shares of the company's stock valued at $8,067,000 after purchasing an additional 122,399 shares during the period. 75.71% of the stock is owned by institutional investors.

General Mills Price Performance

Shares of GIS opened at $50.52 on Monday. The firm has a market cap of $27.40 billion, a PE ratio of 12.32, a P/E/G ratio of 1.28 and a beta of -0.02. The company has a current ratio of 0.67, a quick ratio of 0.43 and a debt-to-equity ratio of 1.38. The firm has a fifty day simple moving average of $50.26 and a two-hundred day simple moving average of $54.50. General Mills, Inc. has a 1-year low of $48.29 and a 1-year high of $75.90.

General Mills (NYSE:GIS - Get Free Report) last announced its earnings results on Wednesday, June 25th. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. The business had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.60 billion. General Mills had a net margin of 11.78% and a return on equity of 24.88%. The company's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 EPS. General Mills has set its FY 2026 guidance at 3.580-3.790 EPS. On average, equities analysts anticipate that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a dividend of $0.61 per share. The ex-dividend date was Thursday, July 10th. This represents a $2.44 dividend on an annualized basis and a yield of 4.8%. This is a boost from General Mills's previous quarterly dividend of $0.60. General Mills's dividend payout ratio (DPR) is presently 59.51%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank Of Canada upgraded General Mills from a "sector perform" rating to an "outperform" rating and reduced their price target for the company from $67.00 to $63.00 in a report on Thursday, June 26th. UBS Group cut their price objective on General Mills from $52.00 to $49.00 and set a "sell" rating on the stock in a research report on Thursday, June 26th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $45.00 price objective (down from $53.00) on shares of General Mills in a research report on Wednesday, August 20th. Stifel Nicolaus cut their price objective on General Mills from $65.00 to $56.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Finally, Barclays cut their price objective on General Mills from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 26th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, General Mills presently has a consensus rating of "Hold" and a consensus target price of $59.13.

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.

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