Equities research analysts at UBS AG raised their price target on shares of General Mills (NYSE: GIS) from $42.00 to $47.00 in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has a “neutral” rating on the stock.
A number of other firms have also recently commented on GIS. Analysts at Bank of America reiterated a “buy” rating on shares of General Mills in a research note to investors on Monday. Separately, analysts at Sanford C. Bernstein reiterated a “market perform” rating on shares of General Mills in a research note to investors on Thursday, March 14th. They now have a $40.00 price target on the stock. Finally, analysts at BMO Capital Markets reiterated an “outperform” rating on shares of General Mills in a research note to investors on Wednesday, March 13th. They now have a $49.00 price target on the stock.
One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. General Mills currently has an average rating of “Buy” and an average price target of $46.07.
Shares of General Mills (NYSE: GIS) traded up 0.50% during mid-day trading on Thursday, hitting $47.85. General Mills has a 52 week low of $36.75 and a 52 week high of $48.02. The stock’s 50-day moving average is currently $44.88. The company has a market cap of $30.940 billion and a P/E ratio of 17.57.
General Mills (NYSE: GIS) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. The company had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. General Mills has set its FY13 guidance at $2.66-2.68 EPS and its Q4 guidance at below $0.60 EPS. Analysts expect that General Mills will post $2.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Monday, July 8th. This is a positive change from General Mills’s previous quarterly dividend of $0.33.
General Mills, Inc. (NYSE: GIS), is a global manufacturer and marketer of consumer foods sold through retail stores.