General Mills (NYSE:GIS) had its price target hoisted by Piper Jaffray Companies from $50.00 to $56.00 in a research note issued to investors on Wednesday morning, The Fly reports. Piper Jaffray Companies currently has a neutral rating on the stock.
A number of other equities research analysts have also commented on GIS. Citigroup lowered shares of Biogen from a buy rating to a neutral rating and dropped their price objective for the stock from $470.00 to $230.00 in a report on Thursday, March 21st. Zacks Investment Research upgraded shares of Icon from a hold rating to a buy rating and set a $157.00 price objective on the stock in a report on Thursday, May 30th. Goldman Sachs Group set a $27.00 price objective on shares of Melco Resorts & Entertainment and gave the stock a buy rating in a report on Tuesday, May 28th. Evercore ISI started coverage on shares of Mondelez International in a report on Tuesday, June 11th. They set an outperform rating and a $62.00 price objective on the stock. Finally, Credit Suisse Group set a $15.00 price objective on shares of C&J Energy Services and gave the stock a hold rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $52.66.
GIS opened at $53.44 on Wednesday. The stock has a fifty day moving average price of $52.53. The company has a current ratio of 0.59, a quick ratio of 0.37 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $32.17 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 2.27 and a beta of 0.77. General Mills has a twelve month low of $36.42 and a twelve month high of $54.74.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, June 26th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the business posted $0.79 earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. Research analysts forecast that General Mills will post 3.37 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Tuesday, July 9th. General Mills’s dividend payout ratio (DPR) is currently 60.87%.
Institutional investors have recently added to or reduced their stakes in the stock. Legacy Advisors LLC bought a new position in General Mills in the first quarter valued at $31,000. Certified Advisory Corp grew its position in shares of General Mills by 100.9% in the 1st quarter. Certified Advisory Corp now owns 643 shares of the company’s stock valued at $33,000 after acquiring an additional 323 shares during the period. Meridian Wealth Management LLC bought a new position in shares of General Mills in the 1st quarter valued at about $35,000. Thor Advisors LLC bought a new position in shares of General Mills in the 1st quarter valued at about $40,000. Finally, Penserra Capital Management LLC bought a new position in shares of General Mills in the 1st quarter valued at about $40,000. 69.77% of the stock is owned by institutional investors and hedge funds.
General Mills Company Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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