General Mills (NYSE:GIS) Insider Ricardo Fernandez Sells 7,995 Shares of Stock

General Mills, Inc. (NYSE:GIS) insider Ricardo Fernandez sold 7,995 shares of General Mills stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the transaction, the insider owned 62,283 shares of the company’s stock, valued at $2,148,763.50. This represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

General Mills Price Performance

Shares of NYSE:GIS opened at $33.09 on Friday. The business’s fifty day moving average price is $36.87 and its two-hundred day moving average price is $42.97. The stock has a market cap of $17.66 billion, a PE ratio of 8.09 and a beta of -0.02. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56. General Mills, Inc. has a one year low of $33.07 and a one year high of $55.35.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). General Mills had a return on equity of 19.19% and a net margin of 12.05%.The company had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same period last year, the firm earned $1.12 earnings per share. The business’s revenue was down 8.4% compared to the same quarter last year. On average, analysts forecast that General Mills, Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GIS shares. TD Cowen reduced their target price on shares of General Mills from $45.00 to $37.00 and set a “hold” rating on the stock in a report on Thursday, March 19th. Mizuho cut their price objective on shares of General Mills from $47.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, March 19th. BTIG Research began coverage on shares of General Mills in a research note on Monday, April 13th. They set a “neutral” rating on the stock. UBS Group decreased their target price on shares of General Mills from $40.00 to $35.00 and set a “sell” rating on the stock in a research report on Thursday, March 19th. Finally, Royal Bank Of Canada lowered their target price on shares of General Mills from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, March 19th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $42.61.

Institutional Trading of General Mills

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morningstar Investment Management LLC increased its position in General Mills by 51.5% during the first quarter. Morningstar Investment Management LLC now owns 84,981 shares of the company’s stock worth $3,163,000 after purchasing an additional 28,883 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of General Mills by 1.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,200,299 shares of the company’s stock valued at $156,335,000 after purchasing an additional 58,608 shares during the last quarter. Inceptionr LLC boosted its holdings in shares of General Mills by 81.4% in the 1st quarter. Inceptionr LLC now owns 20,251 shares of the company’s stock valued at $754,000 after purchasing an additional 9,086 shares during the last quarter. Bank of Nova Scotia grew its stake in shares of General Mills by 102.0% during the 1st quarter. Bank of Nova Scotia now owns 185,366 shares of the company’s stock valued at $6,900,000 after buying an additional 93,605 shares during the period. Finally, Keynote Financial Services LLC increased its holdings in shares of General Mills by 18.4% during the 1st quarter. Keynote Financial Services LLC now owns 11,065 shares of the company’s stock worth $412,000 after buying an additional 1,718 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Company Profile

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.