General Mills, Inc. (NYSE:GIS) Director Maria Sastre Sells 1,000 Shares

General Mills, Inc. (NYSE:GIS) Director Maria Sastre sold 1,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.66, for a total transaction of $63,660.00. Following the sale, the director now owns 23,013 shares in the company, valued at approximately $1,465,007.58. The trade was a 4.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

General Mills Stock Performance

General Mills stock traded down $0.10 during trading on Tuesday, reaching $62.78. The company had a trading volume of 2,730,532 shares, compared to its average volume of 3,904,732. The firm has a market capitalization of $34.85 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 3.25 and a beta of 0.11. The company has a current ratio of 0.66, a quick ratio of 0.39 and a debt-to-equity ratio of 1.20. The firm’s 50-day simple moving average is $70.18 and its 200 day simple moving average is $68.73. General Mills, Inc. has a 52 week low of $61.47 and a 52 week high of $75.90.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 earnings per share. Sell-side analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.60 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.82%. General Mills’s payout ratio is currently 57.14%.

Institutional Trading of General Mills

Hedge funds and other institutional investors have recently modified their holdings of the company. Values First Advisors Inc. bought a new position in General Mills in the 3rd quarter worth $27,000. First Foundation Advisors lifted its position in shares of General Mills by 400.0% in the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. Planning Capital Management Corp boosted its stake in shares of General Mills by 61.5% in the third quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock worth $37,000 after acquiring an additional 193 shares during the period. TruNorth Capital Management LLC purchased a new stake in shares of General Mills during the second quarter worth about $38,000. Finally, Beacon Capital Management LLC raised its stake in General Mills by 47.5% during the 1st quarter. Beacon Capital Management LLC now owns 559 shares of the company’s stock valued at $39,000 after purchasing an additional 180 shares during the period. 75.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on GIS. Wells Fargo & Company cut their target price on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday. Piper Sandler increased their price objective on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Citigroup lifted their price objective on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Bank of America upped their target price on shares of General Mills from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $72.67.

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.