Traders Buy High Volume of General Mills Put Options (GIS)
General Mills, Inc. (NYSE:GIS) was the recipient of some unusual options trading on Monday. Investors bought 347 put options on the stock. This represents an increase of 122% compared to the typical daily volume of 156 put options.
Several brokerages have recently commented on GIS. Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a research report on Monday, March 20th. Royal Bank Of Canada reiterated a “hold” rating on shares of General Mills in a research report on Sunday, March 12th. Sanford C. Bernstein lowered General Mills from a “market perform” rating to an “underperform” rating and set a $52.00 price objective on the stock. in a research report on Tuesday, March 21st. Stifel Nicolaus lowered General Mills from a “buy” rating to a “hold” rating and reduced their price objective for the company from $67.00 to $60.00 in a research report on Wednesday, March 22nd. Finally, BMO Capital Markets reiterated a “hold” rating and set a $67.00 price objective on shares of General Mills in a research report on Wednesday, March 22nd. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $63.67.
In other news, insider Jonathon Nudi acquired 1,800 shares of General Mills stock in a transaction dated Wednesday, April 12th. The shares were purchased at an average cost of $57.45 per share, for a total transaction of $103,410.00. Following the transaction, the insider now owns 34,077 shares of the company’s stock, valued at $1,957,723.65. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Courier Capital LLC boosted its position in shares of General Mills by 3.3% in the fourth quarter. Courier Capital LLC now owns 7,802 shares of the company’s stock valued at $482,000 after buying an additional 252 shares during the period. Ffcm LLC purchased a new position in shares of General Mills during the fourth quarter valued at about $1,481,000. Cadence Capital Management LLC boosted its position in shares of General Mills by 37.8% in the fourth quarter. Cadence Capital Management LLC now owns 98,768 shares of the company’s stock valued at $6,101,000 after buying an additional 27,085 shares during the period. Motley Fool Wealth Management LLC boosted its position in shares of General Mills by 17.7% in the fourth quarter. Motley Fool Wealth Management LLC now owns 5,141 shares of the company’s stock valued at $318,000 after buying an additional 774 shares during the period. Finally, Smith Moore & CO. boosted its position in shares of General Mills by 0.4% in the fourth quarter. Smith Moore & CO. now owns 10,791 shares of the company’s stock valued at $667,000 after buying an additional 40 shares during the period. 70.51% of the stock is currently owned by institutional investors.
Shares of General Mills (GIS) traded down 0.25% during midday trading on Monday, hitting $56.96. The stock had a trading volume of 1,642,038 shares. The company has a market cap of $32.82 billion, a PE ratio of 21.10 and a beta of 0.60. The company’s 50 day moving average is $56.96 and its 200 day moving average is $59.84. General Mills has a 52-week low of $55.57 and a 52-week high of $72.95.
General Mills (NYSE:GIS) last released its earnings results on Tuesday, March 21st. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.82 billion. General Mills had a return on equity of 37.15% and a net margin of 10.34%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 earnings per share. On average, analysts anticipate that General Mills will post $3.05 earnings per share for the current year.
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About General Mills
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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