Linscomb Wealth Inc. Boosts Stake in General Mills, Inc. $GIS

Linscomb Wealth Inc. grew its stake in shares of General Mills, Inc. (NYSE:GIS) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 121,076 shares of the company’s stock after buying an additional 1,272 shares during the quarter. Linscomb Wealth Inc.’s holdings in General Mills were worth $6,273,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Conning Inc. raised its position in shares of General Mills by 4.6% during the 1st quarter. Conning Inc. now owns 4,212 shares of the company’s stock valued at $252,000 after buying an additional 185 shares in the last quarter. Benjamin Edwards Inc. raised its position in shares of General Mills by 0.4% during the 1st quarter. Benjamin Edwards Inc. now owns 52,298 shares of the company’s stock valued at $3,127,000 after buying an additional 185 shares in the last quarter. Eastern Bank raised its position in shares of General Mills by 0.8% during the 1st quarter. Eastern Bank now owns 24,817 shares of the company’s stock valued at $1,484,000 after buying an additional 186 shares in the last quarter. SPC Financial Inc. raised its position in shares of General Mills by 1.5% during the 1st quarter. SPC Financial Inc. now owns 13,452 shares of the company’s stock valued at $804,000 after buying an additional 193 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. raised its position in shares of General Mills by 5.0% during the 2nd quarter. Arkfeld Wealth Strategies L.L.C. now owns 4,184 shares of the company’s stock valued at $217,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Insider Activity at General Mills

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the completion of the sale, the insider directly owned 66,593 shares of the company’s stock, valued at approximately $3,332,313.72. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.30% of the company’s stock.

General Mills Price Performance

Shares of General Mills stock opened at $47.06 on Friday. The firm has a market cap of $25.10 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 1.17 and a beta of -0.03. General Mills, Inc. has a 12-month low of $46.46 and a 12-month high of $68.89. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.28. The company’s fifty day simple moving average is $49.36 and its two-hundred day simple moving average is $51.68.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter last year, the firm earned $1.07 EPS. The company’s revenue was down 6.8% on a year-over-year basis. As a group, equities analysts expect that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, October 10th. General Mills’s dividend payout ratio (DPR) is currently 46.12%.

Analyst Ratings Changes

Several analysts have recently weighed in on GIS shares. Zacks Research upgraded shares of General Mills from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 2nd. Mizuho reduced their target price on shares of General Mills from $57.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, September 19th. Barclays reduced their target price on shares of General Mills from $54.00 to $52.00 and set an “equal weight” rating on the stock in a report on Friday, September 19th. Morgan Stanley reduced their target price on shares of General Mills from $49.00 to $48.00 and set an “underweight” rating on the stock in a report on Monday, September 15th. Finally, Wall Street Zen raised shares of General Mills from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Four analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, General Mills has an average rating of “Hold” and a consensus price target of $55.82.

General Mills Company 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.