Stock Traders Purchase High Volume of General Mills Call Options (GIS)

General Mills, Inc. (NYSE:GIS) was the recipient of some unusual options trading activity on Monday. Stock traders bought 44,570 call options on the stock. This is an increase of 2,027% compared to the typical daily volume of 2,095 call options.

Several research firms have commented on GIS. Bank of America decreased their target price on shares of General Mills from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, September 21st. Citigroup reissued a “buy” rating and issued a $67.00 target price on shares of General Mills in a report on Thursday, September 21st. Credit Suisse Group reaffirmed a “neutral” rating and set a $53.00 price target on shares of General Mills in a report on Monday, September 25th. Susquehanna Bancshares reaffirmed a “hold” rating and set a $58.00 price target on shares of General Mills in a report on Tuesday, September 19th. Finally, Zacks Investment Research raised shares of General Mills from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $58.17.

Shares of General Mills (NYSE:GIS) opened at $58.63 on Thursday. The stock has a market cap of $33,360.00, a P/E ratio of 21.48, a P/E/G ratio of 2.64 and a beta of 0.66. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 1.79. General Mills has a 1-year low of $49.65 and a 1-year high of $63.73.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.82. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the firm posted $0.85 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. research analysts anticipate that General Mills will post 3.12 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Tuesday, January 9th. General Mills’s payout ratio is 71.79%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in General Mills by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 39,968,232 shares of the company’s stock worth $2,214,240,000 after acquiring an additional 533,919 shares during the last quarter. American Century Companies Inc. grew its holdings in General Mills by 15.9% during the 3rd quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock worth $584,665,000 after acquiring an additional 1,550,074 shares during the last quarter. American International Group Inc. grew its holdings in General Mills by 1,708.4% during the 3rd quarter. American International Group Inc. now owns 9,027,740 shares of the company’s stock worth $467,276,000 after acquiring an additional 8,528,534 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in General Mills by 13.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,490,175 shares of the company’s stock worth $387,691,000 after acquiring an additional 890,262 shares during the last quarter. Finally, Federated Investors Inc. PA grew its holdings in General Mills by 94.6% during the 2nd quarter. Federated Investors Inc. PA now owns 4,516,168 shares of the company’s stock worth $250,196,000 after acquiring an additional 2,195,397 shares during the last quarter. 72.59% of the stock is currently 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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