General Mills, Inc. (NYSE:GIS) Sees Large Increase in Short Interest

General Mills, Inc. (NYSE:GIS) was the recipient of a significant increase in short interest in the month of September. As of September 29th, there was short interest totalling 26,454,021 shares, an increase of 8.4% from the September 15th total of 24,400,672 shares. Currently, 4.7% of the company’s shares are sold short. Based on an average daily volume of 5,629,868 shares, the days-to-cover ratio is presently 4.7 days.

Several large investors have recently bought and sold shares of GIS. Lenox Wealth Advisors Inc. increased its stake in General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after acquiring an additional 15 shares during the period. Cable Hill Partners LLC increased its stake in General Mills by 274.5% in the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after acquiring an additional 1,647 shares during the period. Winslow Evans & Crocker Inc. increased its stake in General Mills by 2.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock valued at $136,000 after acquiring an additional 69 shares during the period. Hanson McClain Inc. increased its stake in General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock valued at $138,000 after acquiring an additional 35 shares during the period. Finally, IHT Wealth Management LLC boosted its position in General Mills by 33.4% in the first quarter. IHT Wealth Management LLC now owns 2,506 shares of the company’s stock valued at $146,000 after buying an additional 627 shares in the last quarter. Institutional investors own 70.39% of the company’s stock.

Several equities analysts have commented on the company. Consumer Edge raised General Mills from a “sell” rating to a “neutral” rating in a research report on Friday, September 8th. BidaskClub upgraded General Mills from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. BMO Capital Markets reiterated a “market perform” rating and issued a $57.00 price objective (down from $60.00) on shares of General Mills in a report on Thursday, September 21st. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $52.00 price target (down from $59.00) on shares of General Mills in a research note on Friday, June 30th. Finally, Piper Jaffray Companies reaffirmed a “sell” rating and set a $53.00 price objective on shares of General Mills in a research report on Thursday, September 21st. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. General Mills presently has a consensus rating of “Hold” and an average price target of $56.60.

General Mills (GIS) opened at 51.57 on Friday. The firm has a market capitalization of $29.31 billion, a PE ratio of 18.48 and a beta of 0.61. The company’s 50-day moving average price is $52.72 and its 200 day moving average price is $55.30. General Mills has a 1-year low of $50.13 and a 1-year high of $64.06.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.05). The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.79 billion. General Mills had a net margin of 10.68% and a return on equity of 39.82%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 EPS. On average, equities analysts anticipate that General Mills will post $3.08 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.96 annualized dividend and a dividend yield of 3.80%. General Mills’s payout ratio is 70.25%.

TRADEMARK VIOLATION NOTICE: “General Mills, Inc. (NYSE:GIS) Sees Large Increase in Short Interest” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this news story on another domain, it was copied illegally and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2017/10/28/general-mills-inc-gis-short-interest-update.html.

About General Mills

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.

Receive News & Ratings for General Mills Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply