General Mills, Inc. (NYSE:GIS) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. cut its holdings in shares of General Mills, Inc. (NYSE:GIS) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GIS. Arkadios Wealth Advisors raised its holdings in shares of General Mills by 41.8% in the second quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after buying an additional 10,765 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of General Mills by 22.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 237,850 shares of the company’s stock valued at $17,565,000 after purchasing an additional 43,086 shares during the last quarter. iA Global Asset Management Inc. raised its stake in shares of General Mills by 92.5% during the first quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock worth $3,409,000 after purchasing an additional 23,411 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of General Mills by 129.9% during the third quarter. Crossmark Global Holdings Inc. now owns 184,823 shares of the company’s stock worth $13,649,000 after purchasing an additional 104,436 shares during the period. Finally, DNB Asset Management AS grew its position in General Mills by 10.5% in the 2nd quarter. DNB Asset Management AS now owns 119,106 shares of the company’s stock valued at $7,535,000 after buying an additional 11,334 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Price Performance

Shares of NYSE:GIS traded down $1.68 during midday trading on Friday, hitting $63.03. 1,173,656 shares of the stock were exchanged, compared to its average volume of 3,880,442. General Mills, Inc. has a twelve month low of $61.47 and a twelve month high of $75.90. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The company has a 50 day moving average price of $70.91 and a 200-day moving average price of $68.90. The stock has a market cap of $34.99 billion, a P/E ratio of 15.10, a PEG ratio of 3.35 and a beta of 0.11.

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

General Mills Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Jeffrey L. Harmening sold 46,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the transaction, the chief executive officer now owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This represents a 11.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mark A. Pallot sold 8,083 shares of General Mills 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 completion of the sale, the chief accounting officer now directly owns 14,813 shares of the company’s stock, valued at $1,055,870.64. The trade was a 35.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,555 shares of company stock valued at $4,657,676. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Piper Sandler upped their price objective on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. The Goldman Sachs Group began coverage on shares of General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 price target for the company. Wells Fargo & Company lowered their price objective on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday. Citigroup increased their target price on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Finally, Stifel Nicolaus raised their price target on General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, General Mills 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.