General Mills, Inc. (NYSE:GIS – Get Free Report) was the recipient of some unusual options trading activity on Monday. Investors purchased 11,906 put options on the stock. This is an increase of approximately 44% compared to the typical daily volume of 8,240 put options.
Insider Buying and Selling at General Mills
In other General Mills news, insider Ricardo Fernandez sold 7,995 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.50, for a total value of $275,827.50. Following the sale, the insider owned 62,283 shares of the company’s stock, valued at $2,148,763.50. The trade was a 11.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jacqueline Williams-Roll sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $34.27, for a total transaction of $342,700.00. Following the completion of the sale, the insider directly owned 86,002 shares in the company, valued at $2,947,288.54. This trade represents a 10.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.30% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in GIS. Marshall Wace LLP acquired a new position in General Mills during the 2nd quarter worth about $9,188,000. Bank of Nova Scotia lifted its position in General Mills by 4.1% during the 2nd quarter. Bank of Nova Scotia now owns 65,118 shares of the company’s stock worth $3,374,000 after buying an additional 2,552 shares in the last quarter. WINTON GROUP Ltd lifted its position in General Mills by 112.6% during the 2nd quarter. WINTON GROUP Ltd now owns 8,971 shares of the company’s stock worth $465,000 after buying an additional 4,752 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in General Mills by 4.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 82,037 shares of the company’s stock worth $4,250,000 after buying an additional 3,814 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its position in General Mills by 334.2% during the 2nd quarter. Nebula Research & Development LLC now owns 19,542 shares of the company’s stock worth $1,012,000 after buying an additional 15,041 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.
General Mills Price Performance
General Mills (NYSE:GIS – Get Free Report) last posted its earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.09). The firm had revenue of $4.44 billion during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $1.12 EPS. On average, analysts anticipate that General Mills will post 3.43 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on GIS shares. TD Cowen lowered their price target on shares of General Mills from $45.00 to $37.00 and set a “hold” rating on the stock in a report on Thursday, March 19th. Evercore set a $45.00 target price on shares of General Mills in a research note on Wednesday, February 18th. Stifel Nicolaus lowered their target price on shares of General Mills from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Wells Fargo & Company lowered their target price on shares of General Mills from $33.00 to $30.00 and set an “underweight” rating on the stock in a report on Monday. Finally, UBS Group lowered their target price on shares of General Mills from $40.00 to $35.00 and set a “sell” rating on the stock in a report on Thursday, March 19th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $42.44.
View Our Latest Analysis on GIS
General Mills Company Profile
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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