General Mills, Inc. (NYSE:GIS) CEO Sells $3,190,365.00 in Stock

General Mills, Inc. (NYSE:GIS) CEO Jeffrey L. Harmening sold 46,500 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 355,328 shares of the company’s stock, valued at approximately $24,379,054.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

General Mills Stock Performance

GIS stock traded down $0.02 during midday trading on Friday, reaching $68.59. 380,669 shares of the company were exchanged, compared to its average volume of 3,881,670. The business has a 50-day moving average price of $72.33 and a two-hundred day moving average price of $69.19. The firm has a market capitalization of $38.28 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10. General Mills, Inc. has a one year low of $61.47 and a one year high of $75.90. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.66 and a quick ratio of 0.39.

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

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Thursday, October 10th. General Mills’s payout ratio is 55.68%.

Hedge Funds Weigh In On General Mills

A number of large investors have recently modified their holdings of GIS. North Star Investment Management Corp. increased its position in shares of General Mills by 0.8% during the 1st quarter. North Star Investment Management Corp. now owns 17,228 shares of the company’s stock valued at $1,205,000 after purchasing an additional 145 shares during the last quarter. Deseret Mutual Benefit Administrators raised its holdings in shares of General Mills by 4.9% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 3,261 shares of the company’s stock valued at $206,000 after buying an additional 151 shares in the last quarter. Park Place Capital Corp increased its stake in General Mills by 40.6% in the 1st quarter. Park Place Capital Corp now owns 540 shares of the company’s stock worth $38,000 after purchasing an additional 156 shares during the period. Secure Asset Management LLC increased its stake in shares of General Mills by 5.0% during the second quarter. Secure Asset Management LLC now owns 3,305 shares of the company’s stock valued at $209,000 after buying an additional 157 shares during the period. Finally, LCM Capital Management Inc increased its stake in shares of General Mills by 1.9% during the second quarter. LCM Capital Management Inc now owns 8,521 shares of the company’s stock valued at $539,000 after buying an additional 157 shares during the period. 75.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Mizuho dropped 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 note on Wednesday, July 3rd. Argus reiterated a “hold” rating on shares of General Mills in a research report on Tuesday, July 16th. JPMorgan Chase & Co. increased their target price on shares of General Mills from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Evercore ISI dropped their target price on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating for the company in a research report on Friday, June 28th. Finally, Citigroup increased their target price on shares of General Mills from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $73.00.

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.