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

PNC Financial Services Group Inc. trimmed its stake in General Mills, Inc. (NYSE:GIS) by 7.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 926,538 shares of the company’s stock after selling 76,752 shares during the period. PNC Financial Services Group Inc.’s holdings in General Mills were worth $34,486,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GIS. Reflection Asset Management bought a new stake in shares of General Mills in the 4th quarter valued at about $25,000. Nalls Sherbakoff Group LLC bought a new position in shares of General Mills during the fourth quarter worth about $26,000. Brown Shipley& Co Ltd acquired a new position in shares of General Mills in the first quarter worth approximately $26,000. Bruce G. Allen Investments LLC lifted its stake in shares of General Mills by 139.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock worth $27,000 after acquiring an additional 337 shares during the period. Finally, Main Street Group LTD bought a new stake in General Mills in the first quarter valued at approximately $27,000. 75.71% of the stock is owned by institutional investors.

Insider Activity

In other General Mills news, insider Jacqueline Williams-Roll sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total value of $342,700.00. Following the transaction, the insider owned 86,002 shares in the company, valued at approximately $2,947,288.54. This represents a 10.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ricardo Fernandez sold 7,995 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total value of $275,827.50. Following the completion of the sale, the insider directly owned 62,283 shares of the company’s stock, valued at $2,148,763.50. This trade represents a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.30% of the company’s stock.

General Mills Stock Performance

NYSE:GIS opened at $35.64 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. General Mills, Inc. has a twelve month low of $31.75 and a twelve month high of $51.36. The company has a fifty day moving average of $34.91 and a 200-day moving average of $38.74. The firm has a market capitalization of $19.02 billion, a P/E ratio of -198.01 and a beta of -0.03.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, July 1st. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.59 billion. During the same period last year, the company posted $0.53 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. General Mills has set its FY 2027 guidance at 3.000-3.200 EPS. As a group, sell-side analysts anticipate that General Mills, Inc. will post 3.07 EPS for the current year.

General Mills Announces Dividend

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

Analyst Ratings Changes

A number of analysts have weighed in on GIS shares. TD Cowen decreased their target price on shares of General Mills from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, July 2nd. Morgan Stanley dropped their price target on shares of General Mills from $37.00 to $32.00 and set an “underweight” rating on the stock in a research report on Friday, June 5th. Wells Fargo & Company upped their price objective on shares of General Mills from $30.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, July 2nd. Barclays decreased their price objective on shares of General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, May 11th. Finally, Jefferies Financial Group boosted their target price on shares of General Mills from $33.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $39.16.

About General Mills

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.