Linscomb Wealth Inc. Purchases 1,272 Shares of General Mills, Inc. $GIS

Linscomb Wealth Inc. raised its position in shares of General Mills, Inc. (NYSE:GIS) by 1.1% in the second quarter, Holdings Channel reports. The firm owned 121,076 shares of the company’s stock after acquiring an additional 1,272 shares during the quarter. Linscomb Wealth Inc.’s holdings in General Mills were worth $6,273,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Conning Inc. increased its stake in 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 purchasing an additional 185 shares in the last quarter. Benjamin Edwards Inc. increased its stake in 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 purchasing an additional 185 shares in the last quarter. Eastern Bank increased its stake in 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 purchasing an additional 186 shares in the last quarter. SPC Financial Inc. increased its stake in 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 purchasing an additional 193 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. increased its stake in 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 purchasing an additional 200 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Mizuho reduced their price objective on shares of General Mills from $57.00 to $52.00 and set a “neutral” rating for the company in a research note on Friday, September 19th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $45.00 price target (down from $53.00) on shares of General Mills in a research note on Wednesday, August 20th. UBS Group reduced their price target on shares of General Mills from $49.00 to $47.00 and set a “sell” rating for the company in a research note on Thursday, September 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of General Mills in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of General Mills from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Four equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $55.82.

Insider Transactions at General Mills

In related news, insider Jacqueline Williams-Roll sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $50.04, for a total transaction of $200,160.00. Following the completion of the sale, the insider directly owned 66,593 shares in the company, valued at approximately $3,332,313.72. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.30% of the company’s stock.

General Mills Stock Performance

Shares of NYSE GIS opened at $47.06 on Friday. The firm has a 50 day moving average of $49.36 and a 200 day moving average of $51.68. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $25.10 billion, a price-to-earnings 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.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 earnings per share. On average, research analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Announces Dividend

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

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.