Insider Selling: Peter Erickson Sells 6,000 Shares of General Mills Stock (GIS)
General Mills (NYSE:GIS) EVP Peter Erickson unloaded 6,000 shares of General Mills stock on the open market in a transaction dated Thursday, October 24th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the sale, the executive vice president now directly owns 126,305 shares in the company, valued at approximately $6,315,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
General Mills (NYSE:GIS) traded up 0.30% on Friday, hitting $50.06. 1,362,805 shares of the company’s stock traded hands. General Mills has a 52-week low of $38.79 and a 52-week high of $53.07. The stock has a 50-day moving average of $50.45 and a 200-day moving average of $49.29. The company has a market cap of $31.751 billion and a P/E ratio of 18.70.
General Mills (NYSE:GIS) last released its earnings data on Wednesday, September 18th. The company reported $0.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.70. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Tuesday, October 8th.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of General Mills in a research note to investors on Thursday. They now have a $53.00 price target on the stock. Separately, analysts at Merrill Lynch downgraded shares of General Mills from a “buy” rating to a “neutral” rating in a research note to investors on Monday. Finally, analysts at Bank of America Corp. downgraded shares of General Mills from a “buy” rating to a “neutral” rating in a research note to investors on Monday. They now have a $51.00 price target on the stock, down previously from $54.00. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $49.94.
General Mills, Inc (NYSE:GIS) is a manufacturer and marketer of branded consumer foods sold through retail stores.
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