Insider Selling: General Mills, Inc. (NYSE:GIS) Insider Sells 28,614 Shares of Stock

General Mills, Inc. (NYSE:GIS) insider Shawn P. Ogrady sold 28,614 shares of the firm’s stock in a transaction that occurred on Friday, September 24th. The shares were sold at an average price of $60.48, for a total transaction of $1,730,574.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of GIS traded down $0.31 during mid-day trading on Tuesday, hitting $59.34. 49,048 shares of the company’s stock were exchanged, compared to its average volume of 4,146,430. The firm has a market cap of $35.98 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 2.06 and a beta of 0.57. The stock’s 50-day simple moving average is $58.83 and its 200-day simple moving average is $60.45. General Mills, Inc. has a 52 week low of $53.96 and a 52 week high of $64.65. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.00.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Tuesday, September 21st. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. General Mills had a net margin of 12.91% and a return on equity of 25.61%. The company had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the company posted $1.00 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. Analysts forecast that General Mills, Inc. will post 3.78 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Friday, October 8th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.44%. General Mills’s dividend payout ratio is currently 53.83%.

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of General Mills in a research report on Wednesday, June 9th. Jefferies Financial Group assumed coverage on shares of General Mills in a research report on Thursday, September 23rd. They issued a “hold” rating and a $64.00 target price on the stock. Credit Suisse Group downgraded shares of General Mills from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $68.00 to $63.00 in a research note on Monday, September 13th. Citigroup cut their price objective on General Mills from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Royal Bank of Canada raised their price objective on shares of General Mills from $65.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.57.

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in General Mills by 0.3% in the second quarter. Vanguard Group Inc. now owns 51,266,074 shares of the company’s stock worth $3,123,641,000 after purchasing an additional 151,280 shares during the period. State Street Corp increased its holdings in General Mills by 1.7% during the 2nd quarter. State Street Corp now owns 32,924,148 shares of the company’s stock worth $2,006,068,000 after purchasing an additional 553,497 shares in the last quarter. Capital International Investors raised its position in General Mills by 8.3% in the 2nd quarter. Capital International Investors now owns 27,462,315 shares of the company’s stock valued at $1,673,177,000 after buying an additional 2,114,798 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of General Mills by 0.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 10,716,252 shares of the company’s stock valued at $652,942,000 after purchasing an additional 42,120 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in General Mills by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 9,152,023 shares of the company’s stock valued at $555,800,000 after buying an additional 203,293 shares during the last quarter. Institutional investors own 75.07% of the company’s stock.

About General Mills

General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. It operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.

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