Insider Selling: General Mills (NYSE:GIS) Insider Sells 7,995 Shares of Stock

General Mills, Inc. (NYSE:GIS) insider Ricardo Fernandez sold 7,995 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total transaction of $275,827.50. Following the completion of the transaction, the insider owned 62,283 shares in the company, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

General Mills Trading Up 0.4%

NYSE:GIS traded up $0.14 on Thursday, reaching $33.75. The stock had a trading volume of 3,041,554 shares, compared to its average volume of 8,899,288. The company has a market cap of $18.01 billion, a price-to-earnings ratio of 8.25 and a beta of -0.02. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36. The firm’s fifty day moving average is $37.10 and its two-hundred day moving average is $43.07. General Mills, Inc. has a 12-month low of $33.37 and a 12-month high of $55.35.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.09). The firm had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.53 billion. General Mills had a net margin of 12.05% and a return on equity of 19.19%. General Mills’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter last year, the company posted $1.12 earnings per share. Equities analysts expect that General Mills, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on GIS shares. The Goldman Sachs Group cut their price target on General Mills from $47.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, March 19th. Morgan Stanley lowered their price target on General Mills from $47.00 to $44.00 and set an “underweight” rating for the company in a report on Wednesday, February 18th. Piper Sandler lowered their price target on General Mills from $45.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday. BTIG Research assumed coverage on General Mills in a report on Monday, April 13th. They issued a “neutral” rating for the company. Finally, Barclays lowered their price target on General Mills from $41.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $42.61.

Hedge Funds Weigh In On General Mills

A number of hedge funds have recently made changes to their positions in GIS. Inceptionr LLC raised its holdings in shares of General Mills by 81.4% in the 1st quarter. Inceptionr LLC now owns 20,251 shares of the company’s stock worth $754,000 after purchasing an additional 9,086 shares during the period. Bank of Nova Scotia raised its holdings in shares of General Mills by 102.0% in the 1st quarter. Bank of Nova Scotia now owns 185,366 shares of the company’s stock worth $6,900,000 after purchasing an additional 93,605 shares during the period. Keynote Financial Services LLC raised its holdings in shares of General Mills by 18.4% in the 1st quarter. Keynote Financial Services LLC now owns 11,065 shares of the company’s stock worth $412,000 after purchasing an additional 1,718 shares during the period. State of Wyoming raised its holdings in shares of General Mills by 6.5% in the 1st quarter. State of Wyoming now owns 9,277 shares of the company’s stock worth $345,000 after purchasing an additional 564 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of General Mills by 6.2% in the 1st quarter. Cetera Investment Advisers now owns 336,007 shares of the company’s stock worth $12,506,000 after purchasing an additional 19,472 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.

General Mills Company Profile

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.