The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. General Mills Inc. shares valued at $776,847 were sold by Cordani David on May 17. At $89.55 per share, Cordani David sold 8,675 shares. The insider’s holdings dropped to 7,885 shares worth approximately $0.67 million following the completion of this transaction.
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Also, Pallot Mark A sold 4,081 shares, netting a total of over 368,591 in proceeds. Following the sale of shares at $90.32 each, the insider now holds 13,121 shares.
Before that, Benson Jodi J had sold 3,009 shares from its account. In a trade valued at $272,600, the Chief Innovation Officer traded General Mills Inc. shares for $90.59 each. Upon closing the transaction, the insider’s holdings decreased to 3,009 shares, worth approximately $3.0 million.
Analyzing GIS Stock Performance
On Thursday, General Mills Inc. [NYSE: GIS] plunged -0.66% to $84.51. The stock’s lowest price that day was $83.64, but it reached a high of $84.835 in the same session. During the last five days, there has been a drop of approximately -4.51%. Over the course of the year, General Mills Inc. shares have jumped approximately 0.79%. Shares of the company reached a 52-week high of $90.89 on 05/15/23 and a 52-week low of $74.24 on 02/16/23. A 50-day SMA is recorded $86.70, while a 200-day SMA reached $81.37. Nevertheless, trading volume fell to 2.49 million shares from 2.29 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 83.82, which, if violated, would cause prices to drop to 83.13. In the upper region, resistance lies at 85.02. The next price resistance is at 85.52. RSI (Relative Strength Index) is 28.96 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.35, which suggests the price will decrease in the coming days. Percent R is at 88.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is General Mills Inc. subject to short interest?
Stocks of General Mills Inc. saw a sharp steep in short interest on May 14, 2023 dropping by -0.51 million shares to 11.85 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 12.36 million shares. A decline of -4.3% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.17 of the overall float, the days-to-cover ratio (short ratio) decline to 5.17.
Which companies own the most shares of General Mills Inc. (GIS)?
According to The Vanguard Group, Inc. filings, the company currently owns 49,719,603 shares, which is about 8.47% of the total GIS shares outstanding. The investor’s shares have appreciated by 236,655 from its previous 13-F filing of 49482948.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $3,119,487,864. Capital Research & Management Co acquire a 1.42% interest valued at $2.97 billion while SSgA Funds Management, Inc. sold a -1,030,399 stake. A total of -287,671 shares of General Mills Inc. were sold by Capital Research & Management Co during the quarter, and -21,488 were sold by Geode Capital Management LLC. In its current portfolio, Charles Schwab Investment Managem holds 7,561,050 shares valued at $670.14 million.
In terms of General Mills Inc. share price expectations, FactSet research, analysts set an average price target of $84.50 in the next 12 months, down nearly -0.67% from the previous closing price of $85.07. Analysts anticipate General Mills Inc. stock to reach $97.00 by 2023, with the lowest price target being $67.00. In spite of this, 21 analysts ranked General Mills Inc. stock as a Hold at the end of 2023.