Thrivent Financial for Lutherans Sells 2,211 Shares of General Mills, Inc. (NYSE:GIS)

Thrivent Financial for Lutherans cut its stake in General Mills, Inc. (NYSE:GIS) by 4.9% in the 4th quarter, Holdings Channel reports. The firm owned 42,817 shares of the company’s stock after selling 2,211 shares during the period. Thrivent Financial for Lutherans’ holdings in General Mills were worth $2,734,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp lifted its holdings in General Mills by 9.4% in the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock worth $2,474,177,000 after buying an additional 2,867,678 shares during the period. Nordea Investment Management AB raised its position in shares of General Mills by 64.5% in the 4th quarter. Nordea Investment Management AB now owns 7,803,046 shares of the company’s stock worth $497,054,000 after acquiring an additional 3,058,414 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of General Mills by 105.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,708,223 shares of the company’s stock valued at $421,552,000 after purchasing an additional 2,926,232 shares during the period. Amundi boosted its position in shares of General Mills by 9.7% during the fourth quarter. Amundi now owns 4,082,376 shares of the company’s stock valued at $248,902,000 after purchasing an additional 360,368 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in General Mills by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 4,004,777 shares of the company’s stock worth $255,385,000 after purchasing an additional 207,346 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

General Mills Trading Up 1.0 %

General Mills stock opened at $59.65 on Friday. General Mills, Inc. has a one year low of $55.15 and a one year high of $75.90. The business’s fifty day moving average is $59.98 and its 200 day moving average is $64.86. The stock has a market capitalization of $32.88 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 1.94 and a beta of 0.06. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, March 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.04. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the firm posted $1.17 EPS. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, sell-side analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.40 dividend on an annualized basis and a yield of 4.02%. General Mills’s dividend payout ratio is presently 52.75%.

Analysts Set New Price Targets

Several equities analysts have commented on GIS shares. Mizuho lowered their price objective on General Mills from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Piper Sandler lowered their price target on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Jefferies Financial Group upped their price objective on shares of General Mills from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Stifel Nicolaus lowered their target price on shares of General Mills from $72.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Finally, Bank of America cut their price target on General Mills from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, General Mills currently has a consensus rating of “Hold” and a consensus price target of $65.69.

Insider Activity

In other General Mills news, CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the sale, the chief executive officer now directly owns 353,346 shares in the company, valued at $22,967,490. The trade was a 3.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

General Mills Company 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.