Linscomb Wealth Inc. Cuts Stock Position in General Mills, Inc. (NYSE:GIS)

Linscomb Wealth Inc. decreased its position in shares of General Mills, Inc. (NYSE:GIS) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,266 shares of the company’s stock after selling 1,269 shares during the period. Linscomb Wealth Inc.’s holdings in General Mills were worth $8,512,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of GIS. Valley Wealth Managers Inc. grew its position in shares of General Mills by 0.7% during the 3rd quarter. Valley Wealth Managers Inc. now owns 57,490 shares of the company’s stock worth $4,246,000 after buying an additional 397 shares in the last quarter. Empowered Funds LLC lifted its position in General Mills by 6.5% during the third quarter. Empowered Funds LLC now owns 79,835 shares of the company’s stock valued at $5,896,000 after acquiring an additional 4,859 shares during the last quarter. Empirical Finance LLC boosted its position in shares of General Mills by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 20,160 shares of the company’s stock worth $1,489,000 after purchasing an additional 388 shares in the last quarter. Vectors Research Management LLC grew its stake in shares of General Mills by 1.6% during the third quarter. Vectors Research Management LLC now owns 22,014 shares of the company’s stock worth $1,627,000 after acquiring an additional 340 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in General Mills by 5.9% during the 3rd quarter. CIBC Asset Management Inc now owns 96,370 shares of the company’s stock worth $7,117,000 after purchasing an additional 5,371 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total value of $3,190,365.00. Following the transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at $24,379,054.08. This represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Mark A. Pallot sold 8,083 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the sale, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at $1,055,870.64. This represents a 35.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,555 shares of company stock worth $4,657,676. Corporate insiders own 0.26% of the company’s stock.

General Mills Stock Down 2.6 %

Shares of General Mills stock traded down $1.68 during trading hours on Friday, reaching $63.03. 1,173,656 shares of the company were exchanged, compared to its average volume of 3,880,442. The firm has a market cap of $34.99 billion, a PE ratio of 15.10, a PEG ratio of 3.35 and a beta of 0.11. The stock’s fifty day moving average is $70.91 and its 200 day moving average is $68.90. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 EPS. As a group, equities research analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.81%. General Mills’s dividend payout ratio (DPR) is currently 57.14%.

Wall Street Analyst Weigh In

Several brokerages have commented on GIS. Stifel Nicolaus lifted their price objective on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Citigroup boosted their price objective on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Bank of America raised their price target on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Wells Fargo & Company lowered their target price on shares of General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price target on shares of General Mills in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $72.67.

General Mills Profile

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.