PNC Financial Services Group Inc. Sells 76,752 Shares of General Mills, Inc. $GIS

PNC Financial Services Group Inc. lessened its stake in General Mills, Inc. (NYSE:GIS) by 7.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 926,538 shares of the company’s stock after selling 76,752 shares during the quarter. PNC Financial Services Group Inc. owned about 0.17% of General Mills worth $34,486,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GIS. State Street Corp raised its position in shares of General Mills by 0.4% in the 3rd quarter. State Street Corp now owns 33,717,972 shares of the company’s stock valued at $1,700,060,000 after buying an additional 145,701 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of General Mills by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,697,919 shares of the company’s stock worth $915,953,000 after acquiring an additional 488,617 shares during the period. Geode Capital Management LLC boosted its position in shares of General Mills by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company’s stock worth $704,170,000 after acquiring an additional 172,200 shares in the last quarter. Morgan Stanley boosted its position in shares of General Mills by 2.1% during the 4th quarter. Morgan Stanley now owns 9,837,490 shares of the company’s stock worth $457,443,000 after acquiring an additional 200,043 shares in the last quarter. Finally, Invesco Ltd. increased its stake in General Mills by 14.6% in the fourth quarter. Invesco Ltd. now owns 8,780,455 shares of the company’s stock valued at $408,291,000 after acquiring an additional 1,115,465 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Insider Transactions at General Mills

In other news, insider Ricardo Fernandez sold 7,995 shares of General Mills stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total transaction of $275,827.50. Following the sale, the insider directly owned 62,283 shares of the company’s stock, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total value of $342,700.00. Following the completion of the transaction, the insider directly owned 86,002 shares of the company’s stock, valued at $2,947,288.54. This represents a 10.42% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by corporate insiders.

General Mills Stock Performance

Shares of General Mills stock opened at $35.64 on Friday. General Mills, Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $51.36. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.40. The firm has a market capitalization of $19.02 billion, a P/E ratio of -198.01 and a beta of -0.03. The company’s 50 day moving average price is $34.91 and its two-hundred day moving average price is $38.74.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.15. General Mills had a negative net margin of 0.48% and a positive return on equity of 21.37%. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.59 billion. During the same period in the prior year, the business earned $0.53 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. On average, equities analysts forecast that General Mills, Inc. will post 3.07 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend is Friday, July 10th. General Mills’s dividend payout ratio is presently -1,355.56%.

Analysts Set New Price Targets

Several research firms have weighed in on GIS. Wells Fargo & Company upped their target price on General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. lifted their price target on General Mills from $31.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on General Mills from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. TD Cowen dropped their price objective on General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, July 2nd. Finally, Bank of America lifted their target price on General Mills from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $39.16.

General Mills Profile

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.