Linscomb Wealth Inc. Has $7.37 Million Stock Holdings in General Mills, Inc. (NYSE:GIS)

Linscomb Wealth Inc. raised its stake in shares of General Mills, Inc. (NYSE:GIS) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,527 shares of the company’s stock after purchasing an additional 261 shares during the quarter. Linscomb Wealth Inc.’s holdings in General Mills were worth $7,367,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB increased its holdings in General Mills by 64.5% during the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock valued at $497,054,000 after purchasing an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in General Mills by 105.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock worth $421,552,000 after acquiring an additional 2,926,232 shares during the period. State Street Corp increased its holdings in General Mills by 9.4% in the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after purchasing an additional 2,867,678 shares during the last quarter. Nepsis Inc. increased its stake in shares of General Mills by 3,504.8% in the 4th quarter. Nepsis Inc. now owns 2,164,395 shares of the company’s stock valued at $138,023,000 after acquiring an additional 2,104,353 shares during the last quarter. Finally, DDD Partners LLC bought a new stake in General Mills in the fourth quarter valued at approximately $21,776,000. 75.71% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Paul Joseph Gallagher sold 1,041 shares of General Mills stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $64.50, for a total transaction of $67,144.50. Following the completion of the transaction, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. The trade was a 2.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on GIS. Stifel Nicolaus dropped their price objective on General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Barclays dropped their price target on General Mills from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. TD Cowen decreased their price objective on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Mizuho dropped their target price on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Finally, Piper Sandler reduced their price target on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, General Mills currently has an average rating of “Hold” and a consensus target price of $69.06.

General Mills Trading Up 1.2 %

Shares of NYSE:GIS opened at $59.99 on Friday. The company’s 50-day moving average price is $60.55 and its two-hundred day moving average price is $66.33. General Mills, Inc. has a one year low of $55.15 and a one year high of $75.90. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67. The stock has a market capitalization of $33.07 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.94 and a beta of 0.10.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the company earned $1.25 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that General Mills, Inc. will post 4.36 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio is currently 52.17%.

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.