General Mills, Inc. (NYSE:GIS) Sees Significant Growth in Short Interest

General Mills, Inc. (NYSE:GIS) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 21,180,000 shares, a growth of 8.6% from the November 15th total of 19,510,000 shares. Approximately 3.8% of the company’s stock are short sold. Based on an average daily trading volume, of 3,730,000 shares, the days-to-cover ratio is presently 5.7 days.

General Mills Stock Up 0.5 %

Shares of NYSE GIS traded up $0.33 during midday trading on Tuesday, hitting $65.93. The stock had a trading volume of 5,915,635 shares, compared to its average volume of 3,901,228. The company has a market cap of $36.60 billion, a P/E ratio of 15.62, a PEG ratio of 3.41 and a beta of 0.10. General Mills has a 52 week low of $61.47 and a 52 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. The business’s 50 day moving average is $67.06 and its 200-day moving average is $68.22.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter last year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, analysts predict that General Mills will post 4.5 EPS for the current year.

General Mills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Friday, January 10th. General Mills’s dividend payout ratio is presently 57.14%.

Analyst Upgrades and Downgrades

Several research analysts have commented on GIS shares. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 target price on shares of General Mills in a research note on Thursday, September 19th. Citigroup raised their price target on General Mills from $68.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Barclays raised their price target on General Mills from $67.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, September 20th. Wells Fargo & Company decreased their price objective on General Mills from $77.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. Finally, Bank of America raised General Mills from a “neutral” rating to a “buy” rating and raised their price objective for the company from $78.00 to $80.00 in a report on Friday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $73.00.

Insider Activity at General Mills

In other General Mills news, insider Pankaj Mn Sharma sold 2,325 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $74.63, for a total value of $173,514.75. Following the completion of the transaction, the insider now owns 36,184 shares in the company, valued at $2,700,411.92. This represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the insider now owns 128,664 shares of the company’s stock, valued at $9,571,314.96. The trade was a 6.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 67,555 shares of company stock valued at $4,721,336. 0.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Values First Advisors Inc. purchased a new position in shares of General Mills during the 3rd quarter valued at $27,000. First Foundation Advisors lifted its stake in shares of General Mills by 400.0% during the 2nd 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. Planning Capital Management Corp lifted its stake in shares of General Mills by 61.5% during the 3rd quarter. Planning Capital Management Corp now owns 507 shares of the company’s stock valued at $37,000 after buying an additional 193 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of General Mills during the 3rd quarter valued at $44,000. Finally, Rise Advisors LLC lifted its stake in shares of General Mills by 46.7% during the 3rd quarter. Rise Advisors LLC now owns 606 shares of the company’s stock valued at $45,000 after buying an additional 193 shares in the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

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.