Insider Selling: General Mills, Inc. (NYSE:GIS) CAO Sells 8,083 Shares of Stock

General Mills, Inc. (NYSE:GIS) CAO Mark A. Pallot sold 8,083 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total value of $576,156.24. Following the completion of the sale, the chief accounting officer now owns 14,813 shares of the company’s stock, valued at $1,055,870.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

General Mills Stock Down 1.0 %

Shares of NYSE GIS opened at $69.94 on Friday. The stock has a 50 day moving average price of $72.36 and a 200 day moving average price of $69.22. The firm has a market capitalization of $39.04 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 3.71 and a beta of 0.10. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share 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 business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the prior year, the business earned $1.09 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. Sell-side analysts expect that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Thursday, October 10th. General Mills’s dividend payout ratio is currently 55.68%.

Analyst Upgrades and Downgrades

GIS has been the topic of a number of research analyst reports. TD Cowen boosted their price target on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Wells Fargo & Company increased their price target on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. JPMorgan Chase & Co. boosted their target price on General Mills from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. Bank of America raised their price target on General Mills from $68.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Piper Sandler boosted their price objective on shares of 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. According to MarketBeat, General Mills has an average rating of “Hold” and a consensus price target of $73.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GIS. Rise Advisors LLC increased its stake in General Mills by 199.3% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock valued at $29,000 after purchasing an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in General Mills by 409.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 336 shares in the last quarter. RFP Financial Group LLC grew its position in General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after buying an additional 173 shares during the period. Perkins Coie Trust Co increased its stake in shares of General Mills by 769.2% in the 1st quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after purchasing an additional 400 shares in the last quarter. Finally, GoalVest Advisory LLC increased its position in shares of General Mills by 65.5% in the first quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock valued at $32,000 after buying an additional 180 shares in the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.

General Mills Company Profile

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.