General Mills, Inc. (NYSE:GIS) CFO Donal L. Mulligan sold 120,722 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $47.50, for a total value of $5,734,295.00. Following the sale, the chief financial officer now directly owns 252,326 shares of the company’s stock, valued at approximately $11,985,485. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of GIS traded up $0.05 during trading hours on Friday, hitting $47.51. The stock had a trading volume of 8,548,007 shares, compared to its average volume of 4,901,750. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.58 and a quick ratio of 0.36. General Mills, Inc. has a 12 month low of $36.42 and a 12 month high of $51.27. The firm has a market capitalization of $28.35 billion, a P/E ratio of 15.28, a PEG ratio of 2.10 and a beta of 0.77.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 19th. The company reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.04. General Mills had a return on equity of 29.44% and a net margin of 12.48%. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.51 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. General Mills’s revenue was up 5.0% compared to the same quarter last year. Analysts expect that General Mills, Inc. will post 3.08 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Tuesday, April 9th. General Mills’s dividend payout ratio is presently 63.02%.
A number of large investors have recently added to or reduced their stakes in GIS. Norges Bank bought a new stake in General Mills during the fourth quarter valued at about $208,406,000. Oregon Public Employees Retirement Fund grew its holdings in General Mills by 3,788.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,531,100 shares of the company’s stock valued at $65,000 after purchasing an additional 2,466,013 shares during the period. BlackRock Inc. grew its holdings in General Mills by 2.6% during the fourth quarter. BlackRock Inc. now owns 40,910,241 shares of the company’s stock valued at $1,593,046,000 after purchasing an additional 1,049,722 shares during the period. Macquarie Group Ltd. grew its holdings in General Mills by 23.8% during the third quarter. Macquarie Group Ltd. now owns 5,405,699 shares of the company’s stock valued at $232,013,000 after purchasing an additional 1,037,852 shares during the period. Finally, Wedge Capital Management L L P NC bought a new stake in General Mills during the fourth quarter valued at about $33,087,000. 68.34% of the stock is owned by institutional investors and hedge funds.
GIS has been the subject of a number of research reports. Jefferies Financial Group set a $55.00 target price on General Mills and gave the stock a “buy gis” rating in a report on Monday, December 24th. UBS Group reaffirmed a “buy” rating and issued a $40.00 price target on shares of General Mills in a research note on Friday, December 14th. Standpoint Research began coverage on General Mills in a research report on Wednesday, December 26th. They issued a “buy” rating and a $37.59 target price on the stock. Deutsche Bank upgraded General Mills from a “hold” rating to a “buy” rating and boosted their price target for the stock from $43.00 to $54.00 in a report on Thursday. Finally, Wells Fargo & Co boosted their price target on General Mills from $48.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, February 25th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $48.13.
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General Mills Company Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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