Insider Selling: General Mills Director Sells 20,000 Shares of Stock (GIS)
General Mills (NYSE:GIS) Director Stephen A. Odland unloaded 20,000 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $52.94, for a total transaction of $1,058,800.00. Following the transaction, the director now directly owns 30,468 shares in the company, valued at approximately $1,612,976. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
General Mills (NYSE:GIS) traded up 0.17% during mid-day trading on Monday, hitting $52.90. The stock had a trading volume of 910,757 shares. General Mills has a 1-year low of $46.70 and a 1-year high of $55.64. The stock has a 50-day moving average of $53.49 and a 200-day moving average of $51.69. The company has a market cap of $32.402 billion and a P/E ratio of 18.66.
General Mills (NYSE:GIS) last announced its 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 $3.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 1st. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Tuesday, July 8th.
A number of research firms have recently commented on GIS. Analysts at Zacks reiterated a “neutral” rating on shares of General Mills in a research note on Thursday. They now have a $56.00 price target on the stock. Separately, analysts at S&P Equity Research downgraded shares of General Mills to a “hold” rating in a research note on Thursday, July 10th. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of General Mills from $51.00 to $52.00 in a research note on Wednesday, July 9th. They now have a “neutral” rating on the stock. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $50.60.
General Mills, Inc (NYSE:GIS) is a manufacturer and marketer of branded consumer foods sold through retail stores.
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