Insider Selling: General Mills, Inc. (NYSE:GIS) Insider Sells 2,325 Shares of Stock

General Mills, Inc. (NYSE:GIS) insider Pankaj Mn Sharma sold 2,325 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now owns 36,184 shares in the company, valued at approximately $2,700,411.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

General Mills Price Performance

General Mills stock traded down $0.06 during midday trading on Tuesday, hitting $74.13. 519,623 shares of the company’s stock were exchanged, compared to its average volume of 3,972,100. The stock has a 50-day moving average price of $70.14 and a two-hundred day moving average price of $68.63. General Mills, Inc. has a 52-week low of $60.33 and a 52-week high of $75.90. The company has a market cap of $41.38 billion, a P/E ratio of 17.25, a PEG ratio of 3.86 and a beta of 0.10. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. General Mills had a net margin of 12.57% and a return on equity of 26.56%. General Mills’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the firm posted $1.09 earnings per share. On average, equities research analysts forecast that General Mills, Inc. will post 4.5 earnings per share for the current year.

General Mills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.60 per share. This is a boost from General Mills’s previous quarterly dividend of $0.59. This represents a $2.40 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Wednesday, July 10th. General Mills’s dividend payout ratio (DPR) is presently 55.68%.

Institutional Investors Weigh In On General Mills

A number of hedge funds have recently made changes to their positions in the business. Clifford Capital Partners LLC boosted its position in General Mills by 21.4% during the 2nd quarter. Clifford Capital Partners LLC now owns 217,113 shares of the company’s stock valued at $13,735,000 after buying an additional 38,204 shares during the period. Cannon Financial Strategists Inc. purchased a new stake in General Mills in the second quarter worth $559,000. Sanctuary Advisors LLC bought a new stake in General Mills in the second quarter valued at $3,202,000. Birmingham Capital Management Co. Inc. AL lifted its position in shares of General Mills by 1.9% in the 2nd quarter. Birmingham Capital Management Co. Inc. AL now owns 13,640 shares of the company’s stock worth $863,000 after purchasing an additional 250 shares during the period. Finally, Dana Investment Advisors Inc. boosted its stake in shares of General Mills by 1.5% during the 2nd quarter. Dana Investment Advisors Inc. now owns 132,059 shares of the company’s stock valued at $8,354,000 after purchasing an additional 1,937 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GIS has been the topic of several recent analyst reports. Evercore ISI cut their price objective on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a report on Friday, June 28th. Wells Fargo & Company raised their price target on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. Piper Sandler upped their price objective on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 target price on shares of General Mills in a research report on Thursday, September 19th. Finally, Barclays upped their target price on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, General Mills has a consensus rating of “Hold” and a consensus target price of $72.73.

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.