General Mills, Inc. (NYSE:GIS) has been assigned a consensus rating of “Hold” from the eighteen ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $63.06.
A number of analysts have issued reports on GIS shares. Citigroup raised their price target on General Mills from $64.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday. Morgan Stanley raised their target price on shares of General Mills from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday. Piper Sandler boosted their target price on shares of General Mills from $71.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday. Sanford C. Bernstein downgraded shares of General Mills from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $57.00 to $50.00 in a research note on Thursday, June 11th. Finally, Stifel Nicolaus dropped their price objective on General Mills from $62.00 to $60.00 and set a “hold” rating for the company in a report on Thursday, July 2nd.
Shares of GIS traded up $1.41 on Monday, hitting $59.13. 97,542 shares of the stock traded hands, compared to its average volume of 4,262,315. General Mills has a 1 year low of $46.59 and a 1 year high of $66.14. The stock’s 50 day moving average is $62.14 and its two-hundred day moving average is $60.22. The firm has a market capitalization of $35.26 billion, a P/E ratio of 16.55, a P/E/G ratio of 2.22 and a beta of 0.59. The company has a quick ratio of 0.49, a current ratio of 0.68 and a debt-to-equity ratio of 1.31.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 23rd. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.13. General Mills had a return on equity of 27.66% and a net margin of 12.37%. The company had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the company posted $0.79 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts forecast that General Mills will post 3.53 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be given a $0.51 dividend. This is an increase from General Mills’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, October 8th. This represents a $2.04 annualized dividend and a dividend yield of 3.45%. General Mills’s dividend payout ratio is presently 54.29%.
In related news, insider Shawn P. Ogrady sold 44,147 shares of the firm’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $64.50, for a total transaction of $2,847,481.50. Following the completion of the sale, the insider now directly owns 185,213 shares of the company’s stock, valued at approximately $11,946,238.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jodi J. Benson sold 2,667 shares of General Mills stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $65.05, for a total transaction of $173,488.35. Following the sale, the insider now directly owns 42,723 shares in the company, valued at approximately $2,779,131.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,711 shares of company stock valued at $3,920,384. Insiders own 0.51% of the company’s stock.
Several institutional investors have recently made changes to their positions in GIS. Atria Investments LLC purchased a new position in General Mills in the second quarter valued at about $5,233,000. Two Sigma Advisers LP raised its position in shares of General Mills by 63.8% in the 2nd quarter. Two Sigma Advisers LP now owns 2,573,200 shares of the company’s stock valued at $158,638,000 after purchasing an additional 1,002,600 shares in the last quarter. Demars Financial Group LLC boosted its stake in shares of General Mills by 7.0% during the 2nd quarter. Demars Financial Group LLC now owns 4,059 shares of the company’s stock valued at $250,000 after buying an additional 264 shares during the last quarter. Elevated Capital Advisors LLC acquired a new stake in shares of General Mills during the second quarter worth approximately $712,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of General Mills by 14.3% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 790,069 shares of the company’s stock worth $48,708,000 after buying an additional 98,788 shares during the last quarter. Institutional investors own 72.40% of the company’s stock.
About General Mills
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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