Thrivent Financial for Lutherans Increases Holdings in General Mills, Inc. (NYSE:GIS)

Thrivent Financial for Lutherans grew its holdings in General Mills, Inc. (NYSE:GIS) by 6.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 45,028 shares of the company’s stock after buying an additional 2,907 shares during the quarter. Thrivent Financial for Lutherans’ holdings in General Mills were worth $3,325,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Values First Advisors Inc. bought a new stake in General Mills in the third quarter valued at $27,000. First Foundation Advisors boosted its position in General Mills by 400.0% during the 2nd quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. Planning Capital Management Corp raised its position in shares of General Mills by 61.5% in the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after acquiring an additional 193 shares in the last quarter. TruNorth Capital Management LLC purchased a new position in shares of General Mills in the 2nd quarter valued at approximately $38,000. Finally, Beacon Capital Management LLC boosted its position in shares of General Mills by 47.5% during the first quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock valued at $39,000 after purchasing an additional 180 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GIS has been the topic of a number of research reports. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of General Mills in a report on Thursday, September 19th. Piper Sandler upped their price objective 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. Stifel Nicolaus lifted their target price on shares of General Mills from $70.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, September 19th. The Goldman Sachs Group began coverage on General Mills in a research report on Monday, August 12th. They set a “buy” rating and a $76.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $72.67.

Insider Buying and Selling

In other news, insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $74.63, for a total transaction of $173,514.75. Following the transaction, the insider now directly owns 36,184 shares of the company’s stock, valued at $2,700,411.92. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jonathon Nudi sold 9,647 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $74.39, for a total value of $717,640.33. Following the transaction, the insider now owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. This trade represents a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,555 shares of company stock valued at $4,721,336. 0.26% of the stock is owned by insiders.

General Mills Trading Up 0.8 %

Shares of GIS stock opened at $65.53 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90. The stock has a market capitalization of $36.38 billion, a P/E ratio of 15.60, a P/E/G ratio of 3.38 and a beta of 0.11. The firm’s 50 day moving average is $69.46 and its 200 day moving average is $68.59.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the business posted $1.09 EPS. Research analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is presently 57.14%.

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.