RBC Capital Markets reiterated their outperform rating on shares of General Mills Inc. (NYSE:GIS) in a research note issued to investors on Friday morning. They currently have a $73.00 target price on the stock.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research raised General Mills from a sell rating to a hold rating in a report on Monday, September 12th. Barclays PLC reissued an equal weight rating and issued a $66.00 price objective on shares of General Mills in a report on Friday, September 23rd. Credit Suisse Group AG reissued a hold rating and issued a $74.00 price objective on shares of General Mills in a report on Thursday, September 8th. Deutsche Bank AG reissued a hold rating and issued a $63.00 price objective (up from $62.00) on shares of General Mills in a report on Thursday, June 23rd. Finally, Bank of America Corp. raised General Mills from an underperform rating to a neutral rating and set a $70.00 price objective for the company in a report on Thursday, June 30th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $68.22.
General Mills (NYSE:GIS) opened at 63.92 on Friday. General Mills has a 12-month low of $53.53 and a 12-month high of $72.95. The stock has a market capitalization of $37.80 billion, a price-to-earnings ratio of 23.24 and a beta of 0.38. The stock’s 50 day moving average is $68.60 and its 200 day moving average is $66.22.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 21st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.03. The firm earned $3.91 billion during the quarter. General Mills had a return on equity of 33.82% and a net margin of 10.33%. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.79 earnings per share. Equities research analysts forecast that General Mills will post $3.10 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.00%. General Mills’s dividend payout ratio (DPR) is 69.82%.
In other General Mills news, COO Jeffrey L. Harmening sold 33,150 shares of the company’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $71.05, for a total value of $2,355,307.50. Following the sale, the chief operating officer now owns 133,106 shares of the company’s stock, valued at $9,457,181.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael D. Rose sold 10,000 shares of the company’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $71.11, for a total value of $711,100.00. Following the completion of the sale, the director now directly owns 79,954 shares in the company, valued at approximately $5,685,528.94. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. raised its stake in General Mills by 7.3% in the second quarter. Macquarie Group Ltd. now owns 347,763 shares of the company’s stock valued at $24,803,000 after buying an additional 23,604 shares during the period. Carnick & Kubik Group LLC bought a new stake in General Mills during the second quarter worth approximately $1,464,000. Williams Jones & Associates LLC raised its stake in General Mills by 279.9% in the second quarter. Williams Jones & Associates LLC now owns 184,937 shares of the company’s stock worth $13,190,000 after buying an additional 136,251 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in General Mills during the second quarter worth approximately $1,712,000. Finally, Kentucky Retirement Systems bought a new stake in General Mills during the second quarter worth approximately $3,605,000. 69.13% of the stock is currently owned by institutional investors.
About General Mills
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S.
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