General Mills, Inc. (GIS) Sees Large Increase in Short Interest

General Mills, Inc. (NYSE:GIS) saw a significant growth in short interest in December. As of December 29th, there was short interest totalling 32,176,715 shares, a growth of 6.7% from the December 15th total of 30,147,369 shares. Based on an average daily trading volume, of 4,545,069 shares, the short-interest ratio is currently 7.1 days. Currently, 5.7% of the shares of the stock are short sold.

In related news, insider Bethany C. Quam sold 8,712 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total value of $517,492.80. Following the sale, the insider now directly owns 36,089 shares in the company, valued at $2,143,686.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GIS. Cable Hill Partners LLC grew its stake in shares of General Mills by 274.5% during the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after buying an additional 1,647 shares during the last quarter. Grove Bank & Trust grew its stake in shares of General Mills by 322.7% during the third quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock valued at $127,000 after buying an additional 1,878 shares during the last quarter. Tradewinds Capital Management LLC grew its stake in shares of General Mills by 127.3% during the third quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock valued at $135,000 after buying an additional 1,459 shares during the last quarter. Spectrum Management Group Inc. bought a new position in shares of General Mills during the third quarter valued at approximately $135,000. Finally, Americafirst Capital Management LLC bought a new position in shares of General Mills during the second quarter valued at approximately $158,000. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on the company. Piper Jaffray Companies upgraded General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 target price on the stock in a research report on Wednesday, January 3rd. Susquehanna Bancshares set a $56.00 target price on General Mills and gave the stock a “hold” rating in a research report on Tuesday, October 17th. Argus reiterated a “hold” rating on shares of General Mills in a research report on Wednesday, December 27th. Goldman Sachs Group reiterated a “sell” rating on shares of General Mills in a research report on Wednesday, October 4th. Finally, Wells Fargo & Co decreased their target price on General Mills from $56.00 to $53.00 and set a “market perform” rating on the stock in a research report on Friday, September 22nd. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have assigned a buy rating to the company’s stock. General Mills has an average rating of “Hold” and an average price target of $58.17.

Shares of General Mills (NYSE GIS) opened at $58.66 on Friday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.53 and a current ratio of 0.81. General Mills has a 52 week low of $49.65 and a 52 week high of $63.73. The firm has a market capitalization of $33,380.00, a P/E ratio of 21.49, a price-to-earnings-growth ratio of 2.58 and a beta of 0.66.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, December 20th. The company reported $0.82 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.82. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. equities analysts predict that General Mills will post 3.12 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.96 annualized dividend and a yield of 3.34%. General Mills’s payout ratio is currently 71.79%.

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General Mills Company Profile

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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