General Mills, Inc. (NYSE:GIS) Insider Jonathon Nudi Sells 9,647 Shares

General Mills, Inc. (NYSE:GIS) insider Jonathon Nudi sold 9,647 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total value of $717,640.33. Following the completion of the transaction, the insider now owns 128,664 shares of the company’s stock, valued at approximately $9,571,314.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

General Mills Trading Up 1.0 %

GIS stock traded up $0.77 during midday trading on Tuesday, hitting $74.62. The stock had a trading volume of 4,071,905 shares, compared to its average volume of 3,961,533. The company’s 50-day moving average price is $71.08 and its 200 day moving average price is $68.93. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39. The firm has a market cap of $41.65 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 3.82 and a beta of 0.10. General Mills, Inc. has a 12-month low of $60.33 and a 12-month high of $75.90.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. General Mills had a return on equity of 26.85% and a net margin of 12.14%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities research analysts predict that General Mills, Inc. will post 4.51 earnings per share for the current fiscal year.

General Mills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 annualized dividend and a dividend yield of 3.22%. General Mills’s payout ratio is currently 55.68%.

Institutional Investors Weigh In On General Mills

Institutional investors have recently bought and sold shares of the stock. Arkadios Wealth Advisors boosted its holdings in shares of General Mills by 41.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock valued at $2,309,000 after purchasing an additional 10,765 shares during the last quarter. Optimist Retirement Group LLC purchased a new position in shares of General Mills in the 4th quarter worth about $1,171,000. State Board of Administration of Florida Retirement System grew its holdings in shares of General Mills by 5.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock worth $48,177,000 after purchasing an additional 38,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of General Mills by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock worth $48,711,000 after purchasing an additional 96,712 shares during the period. Finally, iA Global Asset Management Inc. increased its position in General Mills by 92.5% during the 1st quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock worth $3,409,000 after purchasing an additional 23,411 shares in the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GIS has been the subject of several recent analyst reports. Citigroup raised 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. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 price target on shares of General Mills in a research note on Thursday, September 19th. Piper Sandler raised their price objective on General Mills from $74.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. TD Cowen boosted their target price on General Mills from $72.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, The Goldman Sachs Group began coverage on General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 price target for the company. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.