Stock Traders Buy High Volume of Call Options on General Mills (NYSE:GIS)

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General Mills, Inc. (NYSE:GIS) saw unusually large options trading activity on Thursday. Traders purchased 90,420 call options on the stock. This represents an increase of 2,760% compared to the average volume of 3,162 call options.

In other General Mills news, insider Shawn P. Ogrady sold 47,306 shares of the business’s stock in a transaction dated Wednesday, December 22nd. The shares were sold at an average price of $64.96, for a total value of $3,072,997.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sean N. Walker sold 4,894 shares of the business’s stock in a transaction that occurred on Wednesday, October 20th. The stock was sold at an average price of $62.76, for a total transaction of $307,147.44. The disclosure for this sale can be found here. Insiders sold a total of 66,327 shares of company stock worth $4,342,037 over the last 90 days. Company insiders own 0.53% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in shares of General Mills in the 2nd quarter worth $232,000. Bbva USA acquired a new position in General Mills during the 2nd quarter valued at about $44,000. Sei Investments Co. increased its position in General Mills by 112.8% during the 2nd quarter. Sei Investments Co. now owns 128,634 shares of the company’s stock valued at $7,831,000 after buying an additional 68,190 shares in the last quarter. Western Wealth Management LLC grew its stake in General Mills by 13.9% during the 2nd quarter. Western Wealth Management LLC now owns 7,407 shares of the company’s stock valued at $449,000 after purchasing an additional 902 shares during the last quarter. Finally, Regal Investment Advisors LLC purchased a new stake in shares of General Mills in the second quarter worth about $351,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

GIS opened at $68.57 on Friday. General Mills has a 12-month low of $53.96 and a 12-month high of $69.68. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 1.12. The stock has a fifty day simple moving average of $64.60 and a two-hundred day simple moving average of $61.44. The company has a market cap of $41.36 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 2.38 and a beta of 0.54.

General Mills (NYSE:GIS) last released its quarterly earnings data on Tuesday, December 21st. The company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.06). General Mills had a net margin of 12.02% and a return on equity of 23.58%. The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same period last year, the business earned $1.06 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts predict that General Mills will post 3.78 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 1st. Shareholders of record on Friday, December 10th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Friday, January 7th. General Mills’s payout ratio is 56.20%.

GIS has been the topic of several analyst reports. Piper Sandler upped their price target on shares of General Mills from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Thursday, December 2nd. Evercore ISI reiterated a “hold” rating and set a $65.00 price objective on shares of General Mills in a research note on Thursday, December 23rd. Morgan Stanley increased their price objective on shares of General Mills from $51.00 to $56.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 22nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of General Mills from $71.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, December 13th. Finally, Jefferies Financial Group started coverage on shares of General Mills in a report on Wednesday, December 22nd. They issued a “hold” rating and a $65.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $65.80.

General Mills Company Profile

General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. It operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.

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