General Mills Target of Unusually High Options Trading (NYSE:GIS)

General Mills, Inc. (NYSE:GIS) was the recipient of some unusual options trading on Wednesday. Investors acquired 34,597 call options on the stock. This is an increase of 1,037% compared to the average daily volume of 3,042 call options.

GIS has been the topic of several recent analyst reports. Stifel Nicolaus decreased their price target on General Mills from $62.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, July 2nd. BMO Capital Markets lifted their price target on General Mills from $63.00 to $66.00 and gave the company a “market perform” rating in a research note on Thursday, July 2nd. Deutsche Bank lifted their price target on General Mills from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Morgan Stanley lifted their price target on General Mills from $61.00 to $62.00 and gave the company an “equal weight” rating in a research note on Thursday, July 2nd. Finally, Credit Suisse Group lifted their price target on General Mills from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, March 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $61.44.

In other General Mills news, insider Jodi J. Benson sold 17,475 shares of General Mills stock in a transaction on Monday, April 20th. The stock was sold at an average price of $61.19, for a total value of $1,069,295.25. Following the completion of the transaction, the insider now directly owns 47,702 shares of the company’s stock, valued at approximately $2,918,885.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathon Nudi sold 4,224 shares of General Mills stock in a transaction on Friday, April 24th. The shares were sold at an average price of $59.87, for a total value of $252,890.88. Following the completion of the transaction, the insider now directly owns 58,762 shares of the company’s stock, valued at $3,518,080.94. The disclosure for this sale can be found here. Insiders sold a total of 68,070 shares of company stock valued at $4,102,128 over the last ninety days. Insiders own 0.52% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pinnacle Financial Partners Inc. grew its position in shares of General Mills by 0.7% in the 1st quarter. Pinnacle Financial Partners Inc. now owns 26,250 shares of the company’s stock valued at $1,385,000 after buying an additional 170 shares during the last quarter. Successful Portfolios LLC grew its position in shares of General Mills by 4.7% in the 1st quarter. Successful Portfolios LLC now owns 4,682 shares of the company’s stock valued at $247,000 after buying an additional 210 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc. grew its position in shares of General Mills by 3.2% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc. now owns 7,050 shares of the company’s stock valued at $372,000 after buying an additional 220 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of General Mills by 6.9% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,440 shares of the company’s stock valued at $183,000 after buying an additional 223 shares during the last quarter. Finally, Prestige Wealth Management Group LLC grew its position in shares of General Mills by 86.5% in the 1st quarter. Prestige Wealth Management Group LLC now owns 483 shares of the company’s stock valued at $25,000 after buying an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 70.64% of the company’s stock.

GIS stock traded down $0.26 during midday trading on Thursday, reaching $62.68. 19,642 shares of the stock were exchanged, compared to its average volume of 4,687,537. The stock has a market capitalization of $38.26 billion, a PE ratio of 17.62, a P/E/G ratio of 2.38 and a beta of 0.60. General Mills has a 52 week low of $46.59 and a 52 week high of $64.31. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.68 and a quick ratio of 0.49. The company has a fifty day moving average price of $61.21 and a 200 day moving average price of $56.48.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, July 1st. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.04. General Mills had a return on equity of 27.66% and a net margin of 12.37%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.98 billion. During the same quarter in the previous year, the company posted $0.83 EPS. The business’s revenue was up 20.7% on a year-over-year basis. As a group, analysts anticipate that General Mills will post 3.52 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a $0.49 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.13%. General Mills’s dividend payout ratio (DPR) is presently 54.29%.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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