Prospera Financial Services Inc Purchases 427 Shares of General Mills, Inc. (NYSE:GIS)

Prospera Financial Services Inc boosted its position in General Mills, Inc. (NYSE:GIS) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,414 shares of the company’s stock after purchasing an additional 427 shares during the quarter. Prospera Financial Services Inc’s holdings in General Mills were worth $622,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GIS. Values First Advisors Inc. purchased a new stake in shares of General Mills in the third quarter worth $27,000. First Foundation Advisors grew its stake in shares of General Mills by 400.0% in the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock worth $32,000 after acquiring an additional 400 shares during the last quarter. Planning Capital Management Corp grew its stake in shares of General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after acquiring an additional 193 shares during the last quarter. Beacon Capital Management LLC grew its stake in shares of General Mills by 47.5% in the first quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock worth $39,000 after acquiring an additional 180 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of General Mills in the third quarter worth $44,000. Institutional investors own 75.71% of the company’s stock.

Insider Transactions at General Mills

In related news, insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction that occurred 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 approximately $9,571,314.96. This trade represents a 6.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pankaj Mn Sharma sold 2,325 shares of General Mills 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 sale, the insider now directly owns 36,184 shares in the company, valued at $2,700,411.92. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,555 shares of company stock valued at $4,721,336 over the last quarter. 0.26% of the stock is currently owned by company insiders.

General Mills Stock Up 1.4 %

GIS stock opened at $65.00 on Friday. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week high of $75.90. The business’s 50-day moving average is $69.64 and its two-hundred day moving average is $68.63. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The company has a market cap of $36.09 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 3.33 and a beta of 0.11.

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

General Mills Dividend Announcement

The business 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 3.69%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio (DPR) is currently 57.14%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GIS shares. TD Cowen increased their target price on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Barclays increased their price objective on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, September 20th. Bank of America increased their price objective on General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Wells Fargo & Company dropped their price objective on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. Finally, Piper Sandler increased their price objective on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, General Mills presently has a consensus rating of “Hold” and an average price target of $72.67.

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.