General Mills, Inc. (NYSE:GIS) CEO Jeffrey L. Harmening Sells 11,379 Shares

General Mills, Inc. (NYSE:GIS) CEO Jeffrey L. Harmening sold 11,379 shares of General Mills stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $65.00, for a total value of $739,635.00. Following the completion of the sale, the chief executive officer now directly owns 353,346 shares in the company, valued at $22,967,490. This trade represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

General Mills Trading Up 1.0 %

GIS stock traded up $0.65 during trading on Monday, hitting $65.15. The company had a trading volume of 8,842,476 shares, compared to its average volume of 4,989,175. General Mills, Inc. has a 52-week low of $55.15 and a 52-week high of $75.90. The company has a 50 day simple moving average of $60.33 and a 200-day simple moving average of $65.97. The firm has a market capitalization of $35.91 billion, a P/E ratio of 14.16, a PEG ratio of 1.94 and a beta of 0.06. The company has a quick ratio of 0.67, a current ratio of 0.92 and a debt-to-equity ratio of 1.32.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, December 18th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.18. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. As a group, research analysts forecast that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Thursday, April 10th. General Mills’s dividend payout ratio is 52.17%.

Analysts Set New Price Targets

Several equities analysts have weighed in on GIS shares. Bank of America cut their price target on General Mills from $78.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. Piper Sandler decreased their price target on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Mizuho lowered their price objective on shares of General Mills from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a report on Thursday, December 19th. Finally, Wells Fargo & Company lowered their price target on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, General Mills has a consensus rating of “Hold” and an average target price of $68.65.

Hedge Funds Weigh In On General Mills

Institutional investors have recently made changes to their positions in the company. Aegis Wealth Management LLC bought a new position in General Mills during the 4th quarter worth about $271,000. Probity Advisors Inc. boosted its stake in shares of General Mills by 8.9% during the fourth quarter. Probity Advisors Inc. now owns 14,004 shares of the company’s stock valued at $893,000 after purchasing an additional 1,144 shares in the last quarter. Siemens Fonds Invest GmbH increased its holdings in General Mills by 8.3% during the fourth quarter. Siemens Fonds Invest GmbH now owns 27,756 shares of the company’s stock valued at $1,759,000 after buying an additional 2,123 shares during the period. BridgePort Financial Solutions LLC bought a new position in General Mills in the fourth quarter worth approximately $386,000. Finally, Park Square Financial Group LLC purchased a new stake in General Mills during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 75.71% of the company’s stock.

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.