General Mills, Inc. (NYSE:GIS) CAO Mark A. Pallot Sells 8,083 Shares of Stock

General Mills, Inc. (NYSE:GIS) CAO Mark A. Pallot sold 8,083 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $71.28, for a total transaction of $576,156.24. Following the sale, the chief accounting officer now owns 14,813 shares in the company, valued at $1,055,870.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

General Mills Trading Down 0.5 %

Shares of NYSE:GIS opened at $70.67 on Friday. General Mills, Inc. has a 52-week low of $61.47 and a 52-week high of $75.90. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.39 and a current ratio of 0.66. The company has a market capitalization of $39.44 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 3.71 and a beta of 0.10. The company has a 50-day simple moving average of $72.34 and a 200 day simple moving average of $69.22.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, September 18th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. General Mills had a net margin of 12.14% and a return on equity of 26.85%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the business posted $1.09 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. Sell-side analysts forecast that General Mills, Inc. will post 4.51 earnings per share for the current year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.40%. General Mills’s payout ratio is currently 55.68%.

Institutional Investors Weigh In On General Mills

Several hedge funds and other institutional investors have recently made changes to their positions in GIS. Arkadios Wealth Advisors grew its stake in shares of General Mills by 41.8% during the second quarter. Arkadios Wealth Advisors now owns 36,503 shares of the company’s stock worth $2,309,000 after buying an additional 10,765 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in General Mills by 5.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 688,543 shares of the company’s stock valued at $48,177,000 after buying an additional 38,021 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in General Mills by 16.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 696,170 shares of the company’s stock worth $48,711,000 after buying an additional 96,712 shares during the period. iA Global Asset Management Inc. boosted its position in General Mills by 92.5% during the 1st quarter. iA Global Asset Management Inc. now owns 48,721 shares of the company’s stock worth $3,409,000 after buying an additional 23,411 shares during the period. Finally, Nomura Holdings Inc. bought a new stake in General Mills during the 4th quarter worth approximately $764,000. 75.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Argus restated a “hold” rating on shares of General Mills in a report on Tuesday, July 16th. Piper Sandler increased their target price on General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. TD Cowen boosted their price target on General Mills from $72.00 to $75.00 and gave the company a “hold” rating in a report on Friday, September 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price objective on shares of General Mills in a research report on Thursday, September 19th. Finally, Mizuho dropped their target price on General Mills from $70.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, General Mills presently has an average rating of “Hold” and an average price target of $73.00.

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.