Insider Selling: General Mills, Inc. (NYSE:GIS) Insider Sells 9,647 Shares of Stock

General Mills, Inc. (NYSE:GIS) insider Jonathon Nudi sold 9,647 shares of General Mills stock in a transaction on Friday, September 27th. The stock was sold at an average price of $74.39, for a total transaction of $717,640.33. Following the sale, the insider now directly owns 128,664 shares in the company, valued at approximately $9,571,314.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

General Mills Stock Up 1.0 %

GIS stock traded up $0.77 during midday trading on Tuesday, reaching $74.62. 4,071,905 shares of the company were exchanged, compared to its average volume of 3,961,533. The stock’s 50-day simple moving average is $71.08 and its 200 day simple moving average is $68.93. General Mills, Inc. has a 1-year low of $60.33 and a 1-year high of $75.90. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The company has a market cap of $41.65 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 3.82 and a beta of 0.10.

General Mills (NYSE:GIS) last announced its quarterly 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. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the previous year, the company earned $1.09 earnings per share. General Mills’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, equities analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a yield of 3.22%. General Mills’s dividend payout ratio is presently 55.68%.

Institutional Investors Weigh In On General Mills

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GIS. Rise Advisors LLC boosted its stake in shares of General Mills by 199.3% during the first quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after buying an additional 273 shares during the period. Capital Advisors Ltd. LLC increased its holdings in shares of General Mills by 409.8% in the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 336 shares during the period. Fortis Group Advisors LLC raised its stake in shares of General Mills by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 458 shares of the company’s stock worth $30,000 after purchasing an additional 229 shares during the last quarter. RFP Financial Group LLC lifted its holdings in shares of General Mills by 66.3% during the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock worth $30,000 after purchasing an additional 173 shares during the period. Finally, Perkins Coie Trust Co lifted its holdings in shares of General Mills by 769.2% during the first quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock worth $32,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GIS. The Goldman Sachs Group started coverage on General Mills in a report on Monday, August 12th. They set a “buy” rating and a $76.00 target price on the stock. Citigroup raised their target price on General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Mizuho cut their price objective on shares of General Mills from $70.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Wells Fargo & Company boosted their target price on shares of General Mills from $67.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. reduced their price target on shares of General Mills from $70.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, General Mills currently has a consensus rating of “Hold” and a consensus target price of $72.73.

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.