Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. General Mills, Inc. shares valued at $692,109 were sold by Nudi Jonathon on Mar 22 ’24. At $69.21 per share, Nudi Jonathon sold 10,000 shares. The insider’s holdings dropped to 93,381 shares worth approximately $6.57 million following the completion of this transaction.
Also, MORIKIS JOHN G sold 55 shares, netting a total of over 3,617 in proceeds. Following the sale of shares at $65.76 each, the insider now holds 5,802 shares.
Before that, Nudi Jonathon had sold 7,671 shares from its account. In a trade valued at $492,121, the Group President traded General Mills, Inc. shares for $64.15 each. Upon closing the transaction, the insider’s holdings decreased to 7,671 shares, worth approximately $7.24 million.
As published in their initiating research note from Citigroup on February 01, 2024, General Mills, Inc. [GIS] has been a Neutral and the price target has been revised to $67. Analysts at RBC Capital Mkts resumed the stock at ‘”a Sector perform”‘ outlook in a report released in late December. As of September 22, 2023, HSBC Securities has initiated its “Hold” rating for GIS. Earlier on September 18, 2023, Piper Sandler resumed its rating. Their recommendation was “an Overweight” for GIS stock.
Analyzing GIS Stock Performance
During the last five days, there has been a surge of approximately 1.03%. Over the course of the year, General Mills, Inc. shares have jumped approximately 8.04%. Shares of the company reached a 52-week high of $74.45 on 03/20/24 and a 52-week low of $61.47 on 02/14/24. A 50-day SMA is recorded $65.77, while a 200-day SMA reached $67.44. Nevertheless, trading volume fell to 4.33 million shares from 4.38 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 69.36, which, if violated, would cause prices to drop to 68.33. In the upper region, resistance lies at 70.97. The next price resistance is at 71.55. RSI (Relative Strength Index) is 64.63 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.86, which suggests the price will decrease in the coming days. Percent R is at 43.91%, indicating low 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 Mar 15, 2024 jumping by 0.61 million shares to 13.77 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 13.16 million shares. A jump of 4.43% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.42 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.42.
