General Mills, Inc. (NYSE:GIS) CEO Jeffrey L. Harmening Sells 11,379 Shares of Stock

General Mills, Inc. (NYSE:GIS) CEO Jeffrey L. Harmening sold 11,379 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $65.00, for a total transaction of $739,635.00. Following the completion of the transaction, the chief executive officer now owns 353,346 shares in the company, valued at approximately $22,967,490. This trade represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

General Mills Trading Up 1.0 %

Shares of NYSE GIS opened at $65.15 on Tuesday. The company’s 50 day simple moving average is $60.37 and its 200 day simple moving average is $65.93. General Mills, Inc. has a fifty-two week low of $55.15 and a fifty-two week high of $75.90. The firm has a market capitalization of $35.91 billion, a P/E ratio of 14.16, a P/E/G ratio of 1.94 and a beta of 0.06. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.92 and a quick ratio of 0.67.

General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 18th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.22 by $0.18. General Mills had a net margin of 13.08% and a return on equity of 27.55%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter in the prior year, the firm earned $1.25 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Thursday, April 10th. General Mills’s payout ratio is presently 52.17%.

Institutional Investors Weigh In On General Mills

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in General Mills by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 68,630,598 shares of the company’s stock valued at $4,376,573,000 after purchasing an additional 1,868,508 shares in the last quarter. State Street Corp increased its stake in General Mills by 9.4% in the third quarter. State Street Corp now owns 33,502,737 shares of the company’s stock valued at $2,474,177,000 after purchasing an additional 2,867,678 shares in the last quarter. Geode Capital Management LLC increased its stake in General Mills by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 14,488,451 shares of the company’s stock valued at $923,907,000 after purchasing an additional 136,895 shares in the last quarter. Ameriprise Financial Inc. increased its stake in General Mills by 34.5% in the fourth quarter. Ameriprise Financial Inc. now owns 9,123,387 shares of the company’s stock valued at $581,903,000 after purchasing an additional 2,341,137 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of General Mills by 18.4% during the fourth quarter. Northern Trust Corp now owns 8,061,793 shares of the company’s stock worth $514,101,000 after acquiring an additional 1,253,483 shares in the last quarter. Institutional investors own 75.71% of the company’s stock.

Analyst Ratings Changes

GIS has been the topic of a number of recent analyst reports. Stifel Nicolaus reduced their price target on shares of General Mills from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Piper Sandler reduced their price target on shares of General Mills from $84.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Wells Fargo & Company reduced their target price on shares of General Mills from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Bank of America reduced their target price on shares of General Mills from $78.00 to $70.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Mills from $83.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.65.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, 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 savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.