General Mills, Inc. (NYSE:GIS) CEO Jeffrey L. Harmening Sells 46,500 Shares

General Mills, Inc. (NYSE:GIS) CEO Jeffrey L. Harmening sold 46,500 shares of General Mills stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $68.61, for a total transaction of $3,190,365.00. Following the transaction, the chief executive officer now directly owns 355,328 shares in the company, valued at approximately $24,379,054.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

General Mills Price Performance

Shares of NYSE GIS opened at $68.30 on Monday. The stock has a market cap of $38.12 billion, a P/E ratio of 15.85, a P/E/G ratio of 3.55 and a beta of 0.10. The firm’s 50-day simple moving average is $72.31 and its 200 day simple moving average is $69.17. General Mills, Inc. has a fifty-two week low of $61.47 and a fifty-two week 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.

General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the business posted $1.09 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities analysts expect that General Mills, Inc. will post 4.51 EPS for the current year.

General Mills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Thursday, October 10th. General Mills’s dividend payout ratio is presently 55.68%.

Institutional Trading of General Mills

Several institutional investors have recently modified their holdings of GIS. Values First Advisors Inc. bought a new position in shares of General Mills in the third quarter valued at $27,000. Capital Advisors Ltd. LLC increased its stake 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 increased its stake in General Mills by 66.3% in the 1st quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after purchasing an additional 173 shares in the last quarter. GoalVest Advisory LLC raised its holdings in General Mills by 65.5% during the 1st quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock worth $32,000 after buying an additional 180 shares during the period. Finally, First Foundation Advisors lifted its stake in General Mills by 400.0% during the second quarter. First Foundation Advisors now owns 500 shares of the company’s stock valued at $32,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GIS. Citigroup lifted their price objective on shares of General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Mizuho reduced their price target on General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. 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, September 19th. Piper Sandler lifted their target price on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Finally, Barclays raised their price target on General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, General Mills has a consensus rating of “Hold” and a consensus price target of $73.00.

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.