Stock Traders Buy High Volume of Call Options on General Mills (GIS)
General Mills (NYSE:GIS) saw unusually large options trading activity on Monday. Stock investors bought 6,929 call options on the company, AmericanBankingNews.com reports. This represents an increase of approximately 430% compared to the average volume of 1,307 call options.
In other General Mills news, Director Paul Danos sold 3,000 shares of the company’s stock on the open market in a transaction dated Thursday, June 26th. The stock was sold at an average price of $52.06, for a total value of $156,180.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of General Mills in a research note on Friday, June 27th. They now have a $55.00 price target on the stock. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of General Mills in a research note on Thursday, June 26th. They now have a $53.00 price target on the stock, up previously from $51.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of General Mills in a research note on Thursday, June 26th. They now have a $57.00 price target on the stock, down previously from $59.00. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $50.50.
Shares of General Mills (NYSE:GIS) traded up 0.70% during mid-day trading on Monday, hitting $53.42. 2,934,267 shares of the company’s stock traded hands. General Mills has a 1-year low of $46.70 and a 1-year high of $55.64. The stock’s 50-day moving average is $54.04 and its 200-day moving average is $51.33. The company has a market cap of $32.709 billion and a price-to-earnings ratio of 18.75.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, June 25th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by $0.05. The company had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, analysts predict that General Mills will post $3.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Tuesday, July 8th.
General Mills, Inc (NYSE:GIS) is a manufacturer and marketer of branded consumer foods sold through retail stores.
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