Key Points
- General Mills insider Ricardo Fernandez sold 7,995 shares on May 12 at an average price of $34.50, totaling about $275,827.50. After the sale, he still held 62,283 shares, a reduction of 11.38% in his ownership.
- The stock recently traded near its 52-week low, opening at $33.09 versus a 1-year range of $33.07 to $55.35. General Mills also has a market cap of $17.66 billion and a P/E ratio of 8.09.
- General Mills reported weaker-than-expected quarterly earnings, posting EPS of $0.64 versus estimates of $0.73 and revenue of $4.44 billion versus $4.53 billion expected. Analysts currently have a consensus rating of “Reduce” with a price target of $42.61.
General Mills, Inc. (NYSE:GIS - Get Free Report) insider Ricardo Fernandez sold 7,995 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $34.50, for a total value of $275,827.50. Following the completion of the transaction, the insider owned 62,283 shares in the company, valued at approximately $2,148,763.50. This trade represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
General Mills Stock Performance
NYSE GIS opened at $33.09 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.56 and a quick ratio of 0.36. General Mills, Inc. has a 1-year low of $33.07 and a 1-year high of $55.35. The firm has a market capitalization of $17.66 billion, a P/E ratio of 8.09 and a beta of -0.02. The business's 50-day simple moving average is $36.87 and its 200-day simple moving average is $42.97.
General Mills (NYSE:GIS - Get Free Report) last posted its earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.09). The business had revenue of $4.44 billion for the quarter, compared to analyst estimates of $4.53 billion. General Mills had a return on equity of 19.19% and a net margin of 12.05%.The firm's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.12 EPS. Equities analysts predict that General Mills, Inc. will post 3.44 EPS for the current year.
Institutional Investors Weigh In On General Mills
Large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in General Mills during the 4th quarter worth $361,552,000. Wellington Management Group LLP boosted its position in General Mills by 2,970.1% in the 4th quarter. Wellington Management Group LLP now owns 7,466,693 shares of the company's stock valued at $347,201,000 after buying an additional 7,223,487 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of General Mills by 366.1% during the fourth quarter. AQR Capital Management LLC now owns 5,117,287 shares of the company's stock valued at $237,954,000 after acquiring an additional 4,019,319 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in shares of General Mills during the second quarter valued at about $84,862,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of General Mills by 61.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,141,691 shares of the company's stock worth $192,589,000 after acquiring an additional 1,573,444 shares during the last quarter. 75.71% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on GIS shares. Sanford C. Bernstein reduced their target price on shares of General Mills from $53.00 to $48.00 and set a "market perform" rating on the stock in a report on Wednesday, February 18th. JPMorgan Chase & Co. lowered their price target on General Mills from $42.00 to $36.00 and set an "underweight" rating for the company in a report on Thursday, March 19th. Morgan Stanley cut their price objective on General Mills from $47.00 to $44.00 and set an "underweight" rating on the stock in a research report on Wednesday, February 18th. Piper Sandler decreased their target price on General Mills from $45.00 to $41.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company lowered General Mills from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $35.00 to $33.00 in a research note on Wednesday, April 8th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $42.61.
Get Our Latest Report on GIS
General Mills Company Profile
(
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General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company's portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.
Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.
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