General Mills, Inc. (NYSE:GIS) CEO Sells $3,031,600.00 in Stock

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

General Mills Stock Performance

NYSE:GIS opened at $80.78 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.40 and a debt-to-equity ratio of 0.78. General Mills, Inc. has a 12-month low of $58.85 and a 12-month high of $81.24. The stock has a 50-day moving average price of $76.11 and a 200 day moving average price of $71.77. The stock has a market capitalization of $48.12 billion, a P/E ratio of 17.01, a P/E/G ratio of 2.62 and a beta of 0.33.

General Mills (NYSE:GISGet Rating) last released its quarterly earnings results on Wednesday, September 21st. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.11. The business had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.72 billion. General Mills had a return on equity of 23.87% and a net margin of 15.13%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. Equities research analysts forecast that General Mills, Inc. will post 4.06 EPS for the current fiscal year.

General Mills Announces Dividend

The business also recently disclosed a dividend, which was paid on Thursday, July 7th. Stockholders of record on Friday, July 8th were paid a $0.54 dividend. The ex-dividend date of this dividend was Thursday, July 7th. General Mills’s payout ratio is 45.47%.

Institutional Investors Weigh In On General Mills

Institutional investors have recently modified their holdings of the stock. IFM Investors Pty Ltd lifted its stake in shares of General Mills by 17.0% in the 1st quarter. IFM Investors Pty Ltd now owns 90,359 shares of the company’s stock valued at $6,119,000 after purchasing an additional 13,104 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of General Mills by 6.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 178,327 shares of the company’s stock worth $12,076,000 after acquiring an additional 10,664 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in shares of General Mills by 9.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 5,681 shares of the company’s stock worth $385,000 after acquiring an additional 514 shares during the last quarter. Carmignac Gestion bought a new stake in shares of General Mills during the 1st quarter worth approximately $597,000. Finally, Bison Wealth LLC lifted its stake in shares of General Mills by 3.1% during the 1st quarter. Bison Wealth LLC now owns 13,263 shares of the company’s stock worth $898,000 after acquiring an additional 402 shares during the last quarter. 75.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GIS. Citigroup upped their price target on General Mills from $82.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, June 30th. Royal Bank of Canada increased their target price on General Mills from $66.00 to $68.00 and gave the company a “sector perform” rating in a report on Friday, July 1st. Bank of America upped their price target on General Mills from $74.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley upped their price target on General Mills from $66.00 to $71.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, Piper Sandler upped their price target on General Mills from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $76.83.

About General Mills

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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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