RNC Capital Management LLC boosted its position in shares of General Mills, Inc. (NYSE:GIS) by 13,385.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 558,709 shares of the company’s stock after purchasing an additional 554,566 shares during the period. General Mills makes up 2.4% of RNC Capital Management LLC’s portfolio, making the stock its 20th biggest position. RNC Capital Management LLC owned 0.10% of General Mills worth $30,952,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GIS. Lenox Wealth Advisors Inc. grew its holdings in General Mills by 0.8% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after purchasing an additional 15 shares in the last quarter. Winslow Evans & Crocker Inc. grew its holdings in General Mills by 2.9% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock valued at $136,000 after purchasing an additional 69 shares in the last quarter. IHT Wealth Management LLC grew its holdings in General Mills by 33.4% during the 1st quarter. IHT Wealth Management LLC now owns 2,506 shares of the company’s stock valued at $146,000 after purchasing an additional 627 shares in the last quarter. Americafirst Capital Management LLC acquired a new stake in General Mills during the 2nd quarter valued at $158,000. Finally, V Wealth Management LLC acquired a new stake in General Mills during the 2nd quarter valued at $178,000. 69.88% of the stock is owned by institutional investors and hedge funds.
General Mills, Inc. (NYSE GIS) opened at $53.67 on Friday. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.74 and a quick ratio of 0.47. General Mills, Inc. has a 52-week low of $49.65 and a 52-week high of $64.06. The stock has a market cap of $29,854.82, a PE ratio of 17.45, a PEG ratio of 1.96 and a beta of 0.63.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.05). The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.79 billion. General Mills had a net margin of 10.68% and a return on equity of 39.82%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 earnings per share. research analysts anticipate that General Mills, Inc. will post 3.1 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were given a $0.49 dividend. The ex-dividend date was Friday, October 6th. This represents a $1.96 annualized dividend and a yield of 3.65%. General Mills’s dividend payout ratio is presently 70.25%.
A number of research analysts have commented on GIS shares. Zacks Investment Research upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. BidaskClub upgraded shares of General Mills from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Susquehanna Bancshares Inc reiterated a “hold” rating and set a $58.00 price objective on shares of General Mills in a research note on Tuesday, September 19th. Piper Jaffray Companies set a $56.00 price objective on shares of General Mills and gave the company a “sell” rating in a research note on Monday, August 7th. Finally, BMO Capital Markets reiterated a “hold” rating on shares of General Mills in a research note on Tuesday, August 8th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $56.60.
About General Mills
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
Receive News & Ratings for General Mills Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills Inc. and related companies with MarketBeat.com's FREE daily email newsletter.