Insider Selling: HARMENING JEFFREY L, General Mills Inc. [GIS] CEO divested 37,895 shares

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. General Mills Inc. shares valued at $3,031,600 were sold by HARMENING JEFFREY L on Sep 21. At $80.00 per share, HARMENING JEFFREY L sold 37,895 shares. The insider’s holdings dropped to 279,482 shares worth approximately $22.58 million following the completion of this transaction.

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Also, Benson Jodi J sold 15,685 shares, netting a total of over 1,180,296 in proceeds. Following the sale of shares at $75.25 each, the insider now holds 38,085 shares.

Before that, McNabb Dana M had sold 10,993 shares from its account. In a trade valued at $837,174, the Chief S&G Officer traded General Mills Inc. shares for $76.16 each. Upon closing the transaction, the insider’s holdings decreased to 10,993 shares, worth approximately $1.2 million.

As published in their initiating research note from UBS on March 30, 2022, General Mills Inc. [GIS] has been a Neutral and the price target has been revised to $69. This represents a -17.07% premium over Thursday’s closing price. Analysts at Citigroup upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early October. As of September 23, 2021, RBC Capital Mkts has reiterated its “Sector perform” rating for GIS. Earlier on September 21, 2021, Morgan Stanley downgraded its rating. Their new recommendation was “an Underweight” for GIS stock which previously was a “an Equal-weight”.

Analyzing GIS’s Price Performance

On Thursday, General Mills Inc. [NYSE: GIS] rose 1.33% to $80.78. The stock’s lowest price that day was $78.89, but it reached a high of $81.24 in the same session. During the last five days, there has been a surge of approximately 7.61%. Over the course of the year, General Mills Inc. shares have jumped approximately 19.89%. Shares of the company reached a 52-week high of $81.24 on 09/22/22 and a 52-week low of $61.67 on 03/18/22. A 50-day SMA is recorded $76.07, while a 200-day SMA reached $70.52. Nevertheless, trading volume fell to 7.09 million shares from 14.04 million shares the previous day.

Support And Resistance Levels for General Mills Inc. (GIS)

According to the 24-hour chart, there is a support level at 79.37, which, if violated, would cause prices to drop to 77.95. In the upper region, resistance lies at 81.72. The next price resistance is at 82.65. RSI (Relative Strength Index) is 69.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.44, which suggests the price will increase in the coming days. Percent R is at 6.17%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is General Mills Inc. subject to short interest?

Stocks of General Mills Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.71 million shares to 14.38 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 13.67 million shares. A jump of 4.94% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.21 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.21.

Which companies own the most shares of General Mills Inc. (GIS)?

According to The Vanguard Group, Inc. filings, the company currently owns 48,765,084 shares, which is about 8.17% of the total GIS shares outstanding. The investor’s shares have appreciated by 364,709 from its previous 13-F filing of 48400375.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $2,945,878,963. SSgA Funds Management, Inc. reduced a -0.31% interest valued at $2.7 billion while BlackRock Fund Advisors purchased a 1,885,771 stake. A total of 740,571 shares of General Mills Inc. were bought by Capital Research & Management Co during the quarter, and 774,951 were bought by Geode Capital Management LLC. In its current portfolio, Charles Schwab Investment Managem holds 10,690,516 shares valued at $821.03 million.

In terms of General Mills Inc. share price expectations, FactSet research, analysts set an average price target of $76.88 in the next 12 months, down nearly -3.41% from the previous closing price of $79.72. Analysts anticipate General Mills Inc. stock to reach $88.00 by 2022, with the lowest price target being $63.00. In spite of this, 20 analysts ranked General Mills Inc. stock as a Hold at the end of 2022. On September 13, 2021, Credit Suisse assigned a price target of “a Neutral” to the stock and downgraded coverage with a $63.


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