Carlton Hofferkamp & Jenks Wealth Management LLC Has $353,000 Stock Holdings in General Mills, Inc. $GIS

Carlton Hofferkamp & Jenks Wealth Management LLC lessened its stake in shares of General Mills, Inc. (NYSE:GIS) by 12.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,170 shares of the company’s stock after selling 999 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in General Mills were worth $353,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of General Mills by 434.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 19,041,194 shares of the company’s stock valued at $1,138,473,000 after acquiring an additional 15,480,835 shares during the period. Ameriprise Financial Inc. lifted its position in General Mills by 8.1% in the first quarter. Ameriprise Financial Inc. now owns 9,864,819 shares of the company’s stock worth $589,814,000 after purchasing an additional 741,432 shares during the period. Nordea Investment Management AB lifted its position in General Mills by 4.8% in the second quarter. Nordea Investment Management AB now owns 8,588,624 shares of the company’s stock worth $443,173,000 after purchasing an additional 393,135 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in General Mills by 4.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,161,951 shares of the company’s stock worth $428,213,000 after purchasing an additional 315,375 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in General Mills by 10.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,986,128 shares of the company’s stock worth $417,674,000 after purchasing an additional 634,393 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

Insider Buying and Selling

In other General Mills news, insider Jacqueline Williams-Roll sold 4,000 shares of General Mills stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $50.04, for a total value of $200,160.00. Following the transaction, the insider owned 66,593 shares of the company’s stock, 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 is available through the SEC website. Company insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. UBS Group reduced their target price on General Mills from $49.00 to $47.00 and set a “sell” rating for the company in a research report on Thursday, September 18th. Bernstein Bank dropped their price objective on General Mills from $55.00 to $54.00 and set a “market perform” rating for the company in a research note on Thursday, September 18th. Barclays dropped their price objective on General Mills from $54.00 to $52.00 and set an “equal weight” rating for the company in a research note on Friday, September 19th. Morgan Stanley lowered their target price on General Mills from $49.00 to $48.00 and set an “underweight” rating for the company in a research note on Monday, September 15th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of General Mills in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $55.82.

General Mills Stock Down 1.1%

Shares of NYSE:GIS opened at $47.42 on Friday. General Mills, Inc. has a 52 week low of $47.27 and a 52 week high of $68.96. The company has a market capitalization of $25.30 billion, a PE ratio of 8.96, a PEG ratio of 1.21 and a beta of -0.03. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66. The company has a 50 day moving average price of $49.53 and a two-hundred day moving average price of $52.00.

General Mills (NYSE:GIS) last announced its quarterly 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. General Mills had a net margin of 15.24% and a return on equity of 23.46%. The company had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.52 billion. During the same quarter in the previous year, the business earned $1.07 EPS. The firm’s revenue was down 6.8% on a year-over-year basis. Analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.61 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.44 annualized dividend and a dividend yield of 5.1%. General Mills’s payout ratio is currently 46.12%.

About General Mills

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.