General Mills, Inc. $GIS Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. lowered its stake in General Mills, Inc. (NYSE:GIS) by 79.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,298 shares of the company’s stock after selling 100,492 shares during the period. Linscomb Wealth Inc.’s holdings in General Mills were worth $1,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new position in General Mills during the third quarter worth approximately $25,000. Close Asset Management Ltd purchased a new position in shares of General Mills in the 3rd quarter valued at approximately $28,000. Binnacle Investments Inc boosted its stake in shares of General Mills by 312.5% in the third quarter. Binnacle Investments Inc now owns 660 shares of the company’s stock valued at $33,000 after buying an additional 500 shares in the last quarter. Kelleher Financial Advisors purchased a new stake in shares of General Mills in the third quarter valued at approximately $34,000. Finally, Activest Wealth Management raised its holdings in General Mills by 211.7% during the fourth quarter. Activest Wealth Management now owns 695 shares of the company’s stock worth $32,000 after purchasing an additional 472 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Performance

GIS opened at $33.82 on Friday. The business has a fifty day simple moving average of $35.22 and a 200-day simple moving average of $41.97. The firm has a market cap of $18.05 billion, a PE ratio of 8.27 and a beta of -0.02. General Mills, Inc. has a fifty-two week low of $32.64 and a fifty-two week high of $55.19. The company has a quick ratio of 0.36, a current ratio of 0.56 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). The business had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.53 billion. General Mills had a net margin of 12.05% and a return on equity of 19.19%. General Mills’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.12 EPS. As a group, equities analysts predict that General Mills, Inc. will post 3.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein cut their price target on General Mills from $53.00 to $48.00 and set a “market perform” rating for the company in a report on Wednesday, February 18th. Stifel Nicolaus decreased their target price on General Mills from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. BTIG Research assumed coverage on General Mills in a research report on Monday, April 13th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. reduced their price target on General Mills from $42.00 to $36.00 and set an “underweight” rating for the company in a report on Thursday, March 19th. Finally, Piper Sandler cut their price objective on General Mills from $45.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $41.78.

Insider Buying and Selling at General Mills

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

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.