General Mills, Inc. (NYSE:GIS) Shares Sold by Carlton Hofferkamp & Jenks Wealth Management LLC

Carlton Hofferkamp & Jenks Wealth Management LLC trimmed its holdings in General Mills, Inc. (NYSE:GIS) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,296 shares of the company’s stock after selling 173 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in General Mills were worth $565,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of General Mills by 16.3% in the 1st quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock valued at $4,219,113,000 after purchasing an additional 8,444,312 shares in the last quarter. Capital Research Global Investors increased its holdings in General Mills by 22.3% in the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock valued at $955,118,000 after buying an additional 2,488,341 shares during the last quarter. American Century Companies Inc. raised its stake in General Mills by 100.4% during the second quarter. American Century Companies Inc. now owns 4,728,710 shares of the company’s stock valued at $299,138,000 after buying an additional 2,368,563 shares in the last quarter. Wulff Hansen & CO. lifted its holdings in General Mills by 6,140.4% during the 2nd quarter. Wulff Hansen & CO. now owns 945,421 shares of the company’s stock worth $59,807,000 after buying an additional 930,271 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of General Mills in the 1st quarter worth approximately $36,177,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wells Fargo & Company upped their price target on General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. Piper Sandler increased their target price on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. The Goldman Sachs Group began coverage on shares of General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target for the company. Barclays increased their price objective on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.00.

General Mills Trading Up 0.2 %

Shares of GIS stock opened at $64.26 on Wednesday. The firm has a market capitalization of $35.67 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 3.29 and a beta of 0.11. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. General Mills, Inc. has a 1 year low of $61.47 and a 1 year high of $75.90. The stock has a fifty day moving average of $71.27 and a two-hundred day moving average of $68.96.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same quarter in the prior year, the firm posted $1.09 EPS. General Mills’s revenue was down 1.2% compared to the same quarter last year. As a group, research analysts expect that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.73%. General Mills’s payout ratio is 57.14%.

Insiders Place Their Bets

In other news, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jonathon Nudi sold 9,647 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $74.39, for a total transaction of $717,640.33. Following the completion of the sale, the insider now directly owns 128,664 shares of the company’s stock, valued at $9,571,314.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the completion of the transaction, the chief executive officer now owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,555 shares of company stock worth $4,657,676 over the last ninety days. Company insiders own 0.26% of the company’s stock.

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.