Insider Selling: General Mills, Inc. (NYSE:GIS) CEO Sells 37,895 Shares of Stock

General Mills, Inc. (NYSE:GISGet Rating) CEO Jeffrey L. Harmening sold 37,895 shares of the stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $80.00, for a total transaction of $3,031,600.00. Following the completion of the transaction, the chief executive officer now owns 279,482 shares of the company’s stock, valued at $22,358,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

General Mills Trading Up 1.3 %

Shares of NYSE:GIS traded up $1.06 during mid-day trading on Thursday, hitting $80.78. The stock had a trading volume of 7,091,271 shares, compared to its average volume of 3,825,649. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.40 and a current ratio of 0.63. The company has a market cap of $48.12 billion, a PE ratio of 18.16, a P/E/G ratio of 2.52 and a beta of 0.33. General Mills, Inc. has a 12-month low of $58.85 and a 12-month high of $81.24. The company’s 50 day moving average is $75.98 and its 200-day moving average is $71.68.

General Mills (NYSE:GISGet Rating) last issued its quarterly earnings results on Wednesday, September 21st. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.00 by $0.11. General Mills had a net margin of 14.25% and a return on equity of 23.74%. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts predict that General Mills, Inc. will post 4 EPS for the current year.

General Mills Announces Dividend

The business also recently announced a dividend, which was paid on Thursday, July 7th. Shareholders of record on Friday, July 8th were given a $0.54 dividend. The ex-dividend date of this dividend was Thursday, July 7th. General Mills’s payout ratio is 48.87%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of General Mills from $74.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday. Royal Bank of Canada raised their target price on shares of General Mills from $66.00 to $68.00 and gave the stock a “sector perform” rating in a report on Friday, July 1st. Morgan Stanley raised their target price on shares of General Mills from $66.00 to $71.00 and gave the stock an “underweight” rating in a report on Thursday. Credit Suisse Group raised their target price on shares of General Mills from $74.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Citigroup raised their target price on shares of General Mills from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $76.83.

Institutional Investors Weigh In On General Mills

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marquette Asset Management LLC bought a new position in shares of General Mills during the 1st quarter valued at $26,000. Dravo Bay LLC bought a new position in shares of General Mills during the 1st quarter valued at $27,000. Core Alternative Capital raised its holdings in shares of General Mills by 1,160.6% during the 1st quarter. Core Alternative Capital now owns 416 shares of the company’s stock valued at $28,000 after purchasing an additional 383 shares in the last quarter. Canton Hathaway LLC bought a new position in shares of General Mills during the 2nd quarter valued at $29,000. Finally, Capital Analysts LLC raised its holdings in shares of General Mills by 95.0% during the 2nd quarter. Capital Analysts LLC now owns 390 shares of the company’s stock valued at $29,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 75.48% of the company’s stock.

General Mills Company Profile

(Get Rating)

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers 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 salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.

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