Insider Selling: General Mills, Inc. (NYSE:GIS) Insider Sells $173,514.75 in Stock

General Mills, Inc. (NYSE:GIS) insider Pankaj Mn Sharma sold 2,325 shares of General Mills stock in a transaction 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 transaction, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

General Mills Trading Up 0.3 %

Shares of GIS stock opened at $73.99 on Friday. The stock’s 50-day moving average price is $70.53 and its 200-day moving average price is $68.73. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $75.90. The stock has a market capitalization of $41.30 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 3.82 and a beta of 0.10. 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 (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned $1.09 EPS. Equities research analysts predict that General Mills, Inc. will post 4.51 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, October 10th. This represents a $2.40 annualized dividend and a yield of 3.24%. General Mills’s dividend payout ratio (DPR) is currently 55.68%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GIS. Barclays lifted 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 upped their price target on shares of General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Wells Fargo & Company increased their price objective on shares of General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. Piper Sandler lifted their target price on shares of General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Finally, The Goldman Sachs Group started coverage on shares of General Mills in a report on Monday, August 12th. They issued a “buy” rating and a $76.00 target price for the company. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $72.73.

Institutional Trading of General Mills

A number of large investors have recently made changes to their positions in GIS. Aveo Capital Partners LLC purchased a new position in General Mills in the fourth quarter worth about $213,000. Clearbridge Investments LLC lifted its stake in shares of General Mills by 45.3% in the 4th quarter. Clearbridge Investments LLC now owns 20,055 shares of the company’s stock valued at $1,306,000 after purchasing an additional 6,255 shares during the last quarter. Congress Wealth Management LLC DE boosted its holdings in shares of General Mills by 22.5% in the 4th quarter. Congress Wealth Management LLC DE now owns 3,863 shares of the company’s stock worth $252,000 after purchasing an additional 710 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of General Mills by 2.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 210,437 shares of the company’s stock valued at $13,708,000 after purchasing an additional 4,298 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in General Mills by 2.6% during the 4th quarter. Parallel Advisors LLC now owns 24,558 shares of the company’s stock valued at $1,600,000 after buying an additional 617 shares during the period. 75.71% of the stock is currently owned by institutional investors.

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.