Linscomb Wealth Inc. Sells 100,492 Shares of General Mills, Inc. $GIS

Key Points

• Linscomb Wealth Inc. cut its General Mills stake by 79.9% in the fourth quarter, selling 100,492 shares and ending with 25,298 shares valued at about $1.18 million.
• Several other institutional investors remained heavily invested in GIS, and hedge funds and other institutions still own about 75.71% of the company.
• General Mills recently reported weaker-than-expected quarterly results, with earnings of $0.64 per share versus $0.73 expected and revenue of $4.44 billion versus $4.53 billion expected; analysts currently have a consensus rating of “Reduce” with a target price of $41.78.

Linscomb Wealth Inc. lowered its stake in General Mills, Inc. (NYSE:GIS - Free Report) by 79.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp lifted its position in General Mills by 0.4% during the third quarter. State Street Corp now owns 33,717,972 shares of the company's stock valued at $1,700,060,000 after buying an additional 145,701 shares during the period. Geode Capital Management LLC raised its position in General Mills by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 15,197,534 shares of the company's stock worth $704,170,000 after buying an additional 172,200 shares during the last quarter. Invesco Ltd. raised its position in General Mills by 13.0% in the 3rd quarter. Invesco Ltd. now owns 7,664,990 shares of the company's stock worth $386,469,000 after buying an additional 883,150 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in General Mills by 22.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,628,421 shares of the company's stock worth $384,625,000 after buying an additional 1,383,913 shares during the last quarter. Finally, Capital World Investors grew its stake in shares of General Mills by 0.3% during the 3rd quarter. Capital World Investors now owns 5,585,110 shares of the company's stock valued at $281,601,000 after purchasing an additional 16,028 shares during the period. Hedge funds and other institutional investors own 75.71% of the company's stock.

Insider Buying and Selling

In other news, insider Jacqueline Williams-Roll sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the transaction, the insider directly owned 86,002 shares of the company's stock, valued at $2,947,288.54. This represents a 10.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ricardo Fernandez sold 7,995 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the transaction, the insider directly owned 62,283 shares of the company's stock, valued at approximately $2,148,763.50. The trade was a 11.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.30% of the company's stock.

General Mills Stock Performance

GIS stock opened at $33.82 on Friday. The business has a 50-day moving average price of $35.22 and a 200 day moving average price of $41.97. General Mills, Inc. has a 1-year low of $32.64 and a 1-year high of $55.19. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36. The company has a market capitalization of $18.05 billion, a P/E ratio of 8.27 and a beta of -0.02.

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

Analyst Upgrades and Downgrades

GIS has been the subject of a number of recent research reports. Evercore set a $45.00 price target on General Mills in a research note on Wednesday, February 18th. UBS Group cut their price objective on shares of General Mills from $40.00 to $35.00 and set a "sell" rating for the company in a report on Thursday, March 19th. Sanford C. Bernstein cut their price objective on shares of General Mills from $53.00 to $48.00 and set a "market perform" rating for the company in a report on Wednesday, February 18th. Royal Bank Of Canada reduced their target price on shares of General Mills from $60.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, March 19th. Finally, Barclays reduced their target price on shares of General Mills from $41.00 to $36.00 and set an "equal weight" rating on the stock in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, General Mills has an average rating of "Reduce" and a consensus target price of $41.78.

About General Mills

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.

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