Investors Sell Shares of General Mills Inc. (GIS) on Strength (GIS)
Traders sold shares of General Mills Inc. (NYSE:GIS) on strength during trading hours on Friday. $20.96 million flowed into the stock on the tick-up and $51.59 million flowed out of the stock on the tick-down, for a money net flow of $30.63 million out of the stock. Of all equities tracked, General Mills had the 0th highest net out-flow for the day. General Mills traded up $0.18 for the day and closed at $71.45
A number of equities analysts have issued reports on GIS shares. Citigroup Inc. reiterated a “buy” rating on shares of General Mills in a research note on Sunday, May 22nd. Goldman Sachs Group Inc. downgraded General Mills from a “neutral” rating to a “sell” rating and cut their price target for the company from $62.70 to $58.00 in a research note on Tuesday, May 24th. Bank of America Corp. reiterated a “sell” rating on shares of General Mills in a research note on Tuesday, May 24th. Royal Bank Of Canada reiterated an “outperform” rating and set a $70.00 price target (up previously from $64.00) on shares of General Mills in a research note on Friday, June 17th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $63.00 price target (up previously from $62.00) on shares of General Mills in a research note on Thursday, June 23rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. General Mills has a consensus rating of “Hold” and a consensus price target of $66.64.
The firm has a market cap of $42.66 billion and a price-to-earnings ratio of 25.79. The stock’s 50 day moving average price is $71.41 and its 200 day moving average price is $64.34.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 29th. The company reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.06. The business had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.86 billion. General Mills’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 EPS. Equities analysts forecast that General Mills Inc. will post $3.11 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 11th were paid a dividend of $0.48 per share. This is a boost from General Mills’s previous quarterly dividend of $0.46. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Thursday, July 7th.
In other General Mills news, insider John R. Church sold 99,373 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $71.17, for a total transaction of $7,072,376.41. Following the completion of the transaction, the insider now owns 108,311 shares of the company’s stock, valued at $7,708,493.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey L. Harmening sold 33,150 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $71.05, for a total transaction of $2,355,307.50. Following the transaction, the chief operating officer now directly owns 133,106 shares of the company’s stock, valued at approximately $9,457,181.30. The disclosure for this sale can be found here.
Several large investors have recently bought and sold shares of GIS. Gluskin Sheff & Assoc Inc. purchased a new stake in General Mills during the fourth quarter worth approximately $2,225,000. Dimensional Fund Advisors LP boosted its stake in General Mills by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,178,359 shares of the company’s stock worth $67,951,000 after buying an additional 66,419 shares during the last quarter. Opus Investment Management Inc. boosted its stake in General Mills by 6.8% in the fourth quarter. Opus Investment Management Inc. now owns 78,700 shares of the company’s stock worth $4,538,000 after buying an additional 5,000 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in General Mills by 0.6% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 147,583 shares of the company’s stock worth $8,510,000 after buying an additional 850 shares during the last quarter. Finally, Stephens Inc. AR boosted its stake in General Mills by 10.2% in the fourth quarter. Stephens Inc. AR now owns 93,539 shares of the company’s stock worth $5,393,000 after buying an additional 8,652 shares during the last quarter.
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S.
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