Thrive Wealth Management LLC Decreases Stake in General Mills, Inc. (NYSE:GIS)

Thrive Wealth Management LLC lowered its position in shares of General Mills, Inc. (NYSE:GIS) by 12.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,684 shares of the company’s stock after selling 844 shares during the quarter. Thrive Wealth Management LLC’s holdings in General Mills were worth $362,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GIS. Mesirow Financial Investment Management Inc. grew its holdings in General Mills by 1.1% during the third quarter. Mesirow Financial Investment Management Inc. now owns 13,532 shares of the company’s stock worth $999,000 after acquiring an additional 148 shares during the period. Ballentine Partners LLC boosted its position in shares of General Mills by 1.1% in the 3rd quarter. Ballentine Partners LLC now owns 14,854 shares of the company’s stock valued at $1,097,000 after purchasing an additional 165 shares during the period. EP Wealth Advisors LLC boosted its position in General Mills by 0.8% during the 2nd quarter. EP Wealth Advisors LLC now owns 21,629 shares of the company’s stock worth $1,368,000 after acquiring an additional 172 shares during the period. Stratos Wealth Advisors LLC boosted its position in General Mills by 1.7% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 10,604 shares of the company’s stock worth $783,000 after acquiring an additional 173 shares during the period. Finally, Pathway Financial Advisers LLC boosted its position in General Mills by 2.6% during the 2nd quarter. Pathway Financial Advisers LLC now owns 6,789 shares of the company’s stock worth $428,000 after acquiring an additional 174 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GIS shares. Deutsche Bank Aktiengesellschaft cut their price target on General Mills from $83.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. TD Cowen cut their price target on General Mills from $75.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, December 19th. Stifel Nicolaus cut their price target on General Mills from $82.00 to $78.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Citigroup cut their price objective on General Mills from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised 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 research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $71.31.

Insider Buying and Selling at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 46,500 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $68.61, for a total value of $3,190,365.00. Following the sale, the chief executive officer now owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This trade represents a 11.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Joseph Gallagher sold 1,041 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $64.50, for a total value of $67,144.50. Following the sale, the insider now directly owns 42,117 shares in the company, valued at approximately $2,716,546.50. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,541 shares of company stock valued at $3,321,170. 0.26% of the stock is currently owned by corporate insiders.

General Mills Price Performance

Shares of NYSE GIS opened at $59.64 on Monday. The firm has a market cap of $32.88 billion, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 3.65 and a beta of 0.11. The company has a current ratio of 0.92, a quick ratio of 0.67 and a debt-to-equity ratio of 1.32. General Mills, Inc. has a 1-year low of $57.94 and a 1-year high of $75.90. The business’s 50 day moving average is $63.76 and its 200-day moving average is $67.52.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.18. General Mills had a return on equity of 27.55% and a net margin of 13.08%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter last year, the company earned $1.25 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts predict that General Mills, Inc. will post 4.42 earnings per share for the current year.

General Mills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Friday, January 10th. General Mills’s dividend payout ratio is presently 52.17%.

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.