General Mills, Inc. (NYSE:GIS) CEO Jeffrey L. Harmening Sells 37,895 Shares

General Mills, Inc. (NYSE:GISGet Rating) CEO Jeffrey L. Harmening sold 37,895 shares of the company’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $80.00, for a total value of $3,031,600.00. Following the completion of the transaction, the chief executive officer now directly owns 279,482 shares of the company’s stock, valued at approximately $22,358,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

General Mills Stock Performance

Shares of GIS stock opened at $80.78 on Friday. The company has a market cap of $48.12 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 2.62 and a beta of 0.33. General Mills, Inc. has a 52 week low of $58.85 and a 52 week high of $81.24. The company has a quick ratio of 0.40, a current ratio of 0.60 and a debt-to-equity ratio of 0.78. The firm has a 50 day moving average of $76.11 and a 200-day moving average of $71.77.

General Mills (NYSE:GISGet Rating) last announced its quarterly earnings data on Wednesday, September 21st. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $1.00 by $0.11. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.72 billion. General Mills had a net margin of 15.13% and a return on equity of 23.87%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. On average, equities analysts forecast that General Mills, Inc. will post 4.06 earnings per share for the current year.

General Mills Dividend Announcement

The company also recently announced a dividend, which was paid on Thursday, July 7th. Investors of record on Friday, July 8th were issued a $0.54 dividend. The ex-dividend date was Thursday, July 7th. General Mills’s dividend payout ratio is currently 45.47%.

Hedge Funds Weigh In On General Mills

A number of large investors have recently modified their holdings of GIS. O Shaughnessy Asset Management LLC lifted its holdings in shares of General Mills by 46.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,925 shares of the company’s stock worth $804,000 after purchasing an additional 3,800 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of General Mills by 21.8% in the 4th quarter. Schroder Investment Management Group now owns 579,472 shares of the company’s stock worth $39,046,000 after purchasing an additional 103,630 shares in the last quarter. Gotham Asset Management LLC lifted its holdings in shares of General Mills by 5.3% in the 4th quarter. Gotham Asset Management LLC now owns 67,330 shares of the company’s stock worth $4,537,000 after purchasing an additional 3,401 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in General Mills by 4.1% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 45,793 shares of the company’s stock valued at $3,086,000 after acquiring an additional 1,824 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in General Mills by 2.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 122,843 shares of the company’s stock valued at $8,276,000 after acquiring an additional 2,999 shares in the last quarter. 75.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on General Mills from $81.00 to $88.00 in a research note on Thursday. Bank of America upped their price objective on General Mills from $74.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday. Credit Suisse Group increased their target price on shares of General Mills from $74.00 to $77.00 and gave the company a “neutral” rating in a research report on Thursday. BMO Capital Markets increased their target price on shares of General Mills from $80.00 to $85.00 in a research report on Thursday. Finally, Royal Bank of Canada increased their target price on shares of General Mills from $66.00 to $68.00 and gave the company a “sector perform” rating in a research report on Friday, July 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, General Mills presently has a consensus rating of “Hold” and a consensus target price of $76.83.

About General Mills

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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, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables.

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