Thrive Wealth Management LLC Acquires 177 Shares of General Mills, Inc. (NYSE:GIS)

Thrive Wealth Management LLC raised its holdings in shares of General Mills, Inc. (NYSE:GIS) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,528 shares of the company’s stock after acquiring an additional 177 shares during the quarter. Thrive Wealth Management LLC’s holdings in General Mills were worth $482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of GIS. Vanguard Group Inc. increased its holdings in shares of General Mills by 16.3% in the first quarter. Vanguard Group Inc. now owns 60,298,880 shares of the company’s stock worth $4,219,113,000 after purchasing an additional 8,444,312 shares during the period. Capital Research Global Investors increased its holdings in shares of General Mills by 22.3% in the first quarter. Capital Research Global Investors now owns 13,650,388 shares of the company’s stock worth $955,118,000 after purchasing an additional 2,488,341 shares during the period. Capital World Investors increased its holdings in shares of General Mills by 7.6% in the fourth quarter. Capital World Investors now owns 7,074,884 shares of the company’s stock worth $460,858,000 after purchasing an additional 501,717 shares during the period. Legal & General Group Plc grew its position in General Mills by 6.1% in the second quarter. Legal & General Group Plc now owns 5,629,943 shares of the company’s stock worth $356,151,000 after acquiring an additional 323,090 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in General Mills by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,413,585 shares of the company’s stock valued at $342,478,000 after acquiring an additional 148,235 shares during the last quarter. Institutional investors own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

GIS has been the topic of a number of research analyst reports. Mizuho reduced their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Wells Fargo & Company increased their target price on General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Barclays increased their target price on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Piper Sandler increased their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. reduced their price objective on General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $72.73.

General Mills Stock Up 0.8 %

Shares of GIS stock traded up $0.57 during trading hours on Friday, hitting $73.61. 2,339,111 shares of the company’s stock traded hands, compared to its average volume of 3,961,171. The stock’s fifty day simple moving average is $71.74 and its two-hundred day simple moving average is $69.08. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $75.90. The stock has a market cap of $41.09 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 3.82 and a beta of 0.10. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the business earned $1.09 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. On average, analysts expect that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s payout ratio is 55.68%.

Insider Activity

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the sale, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the sale, the insider now owns 36,184 shares of the company’s stock, valued at approximately $2,700,411.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the sale, the insider now owns 128,664 shares of the company’s stock, valued at $9,571,314.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

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.