Investors Buy Shares of General Mills (GIS) on Weakness on Insider Selling
Traders purchased shares of General Mills, Inc. (NYSE:GIS) on weakness during trading hours on Thursday after an insider sold shares in the company. $38.68 million flowed into the stock on the tick-up and $25.54 million flowed out of the stock on the tick-down, for a money net flow of $13.14 million into the stock. Of all stocks tracked, General Mills had the 29th highest net in-flow for the day. General Mills traded down ($0.54) for the day and closed at $58.09Specifically, insider Bethany C. Quam sold 8,712 shares of the stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total transaction of $517,492.80. Following the sale, the insider now directly owns 36,089 shares in the company, valued at approximately $2,143,686.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.
A number of analysts have recently weighed in on GIS shares. Zacks Investment Research upgraded General Mills from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Friday, September 15th. Susquehanna Bancshares reiterated a “hold” rating and set a $58.00 price target on shares of General Mills in a research report on Tuesday, September 19th. Royal Bank of Canada dropped their price target on General Mills from $62.00 to $58.00 and set a “sector perform” rating on the stock in a research report on Thursday, September 21st. Bank of America dropped their price target on General Mills from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, September 21st. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $52.00 price target (down from $55.00) on shares of General Mills in a research report on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $58.17.
The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.53 and a current ratio of 0.81. The company has a market cap of $33,060.00, a PE ratio of 21.28, a P/E/G ratio of 2.64 and a beta of 0.66.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.82. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.08 billion. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. equities research analysts forecast that General Mills, Inc. will post 3.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Tuesday, January 9th. General Mills’s payout ratio is currently 71.79%.
A number of hedge funds and other institutional investors have recently modified their holdings of GIS. Iowa State Bank boosted its stake in General Mills by 0.6% during the 2nd quarter. Iowa State Bank now owns 42,078 shares of the company’s stock valued at $2,331,000 after purchasing an additional 257 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its stake in General Mills by 0.5% during the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 24,540 shares of the company’s stock valued at $1,360,000 after purchasing an additional 124 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in General Mills by 504.6% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 95,365 shares of the company’s stock valued at $5,283,000 after purchasing an additional 79,593 shares in the last quarter. Ledyard National Bank boosted its stake in General Mills by 15.9% during the 2nd quarter. Ledyard National Bank now owns 9,805 shares of the company’s stock valued at $543,000 after purchasing an additional 1,345 shares in the last quarter. Finally, Eqis Capital Management Inc. boosted its stake in General Mills by 14.8% during the 2nd quarter. Eqis Capital Management Inc. now owns 18,072 shares of the company’s stock valued at $1,001,000 after purchasing an additional 2,333 shares in the last quarter. 72.59% of the stock is owned by hedge funds and other institutional investors.
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General Mills Company Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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