General Mills, Inc. (NYSE:GIS - Get Free Report) insider Paul Joseph Gallagher sold 1,041 shares of the company's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $64.50, for a total transaction of $67,144.50. Following the transaction, the insider now directly owns 42,117 shares in the company, valued at $2,716,546.50. The trade was a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of GIS traded down $0.06 during mid-day trading on Monday, reaching $63.55. 3,379,836 shares of the stock traded hands, compared to its average volume of 3,977,833. The stock has a fifty day simple moving average of $66.47 and a 200 day simple moving average of $68.11. General Mills, Inc. has a 12-month low of $61.47 and a 12-month high of $75.90. The company has a quick ratio of 0.39, a current ratio of 0.66 and a debt-to-equity ratio of 1.20. The firm has a market cap of $35.03 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 3.41 and a beta of 0.10.
General Mills (NYSE:GIS - Get Free Report) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.18. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.14 billion. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 EPS. Sell-side analysts expect that General Mills, Inc. will post 4.5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Friday, January 10th. General Mills's dividend payout ratio is currently 52.17%.
Several research firms have recently issued reports on GIS. Citigroup decreased their price objective on General Mills from $71.00 to $67.00 and set a "neutral" rating on the stock in a report on Thursday. Piper Sandler raised their price target on General Mills from $74.00 to $84.00 and gave the stock an "overweight" rating in a research note on Thursday, September 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Mills from $83.00 to $82.00 and set a "hold" rating for the company in a research note on Wednesday, December 18th. Royal Bank of Canada reissued a "sector perform" rating and issued a $70.00 target price on shares of General Mills in a research report on Thursday. Finally, Bank of America raised shares of General Mills from a "neutral" rating to a "buy" rating and upped their price target for the stock from $78.00 to $80.00 in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $71.56.
Read Our Latest Stock Analysis on GIS
Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its stake in shares of General Mills by 9.4% during the 3rd quarter. State Street Corp now owns 33,502,737 shares of the company's stock valued at $2,474,177,000 after buying an additional 2,867,678 shares during the last quarter. American Century Companies Inc. boosted its stake in General Mills by 100.4% during the 2nd quarter. American Century Companies Inc. now owns 4,728,710 shares of the company's stock valued at $299,138,000 after acquiring an additional 2,368,563 shares during the last quarter. Wulff Hansen & CO. grew its holdings in General Mills by 6,140.4% during the 2nd quarter. Wulff Hansen & CO. now owns 945,421 shares of the company's stock worth $59,807,000 after acquiring an additional 930,271 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of General Mills by 6,114.0% in the 3rd quarter. International Assets Investment Management LLC now owns 450,451 shares of the company's stock worth $33,266,000 after purchasing an additional 443,202 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of General Mills by 6.1% in the 2nd quarter. Legal & General Group Plc now owns 5,629,943 shares of the company's stock valued at $356,151,000 after purchasing an additional 323,090 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.
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.
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