BMO Capital Markets reissued their hold rating on shares of General Mills, Inc. (NYSE:GIS) in a research note released on Wednesday. BMO Capital Markets currently has a $67.00 price target on the stock.
A number of other research firms also recently weighed in on GIS. Deutsche Bank AG began coverage on General Mills in a report on Wednesday, February 15th. They set a hold rating and a $61.00 price objective on the stock. Royal Bank of Canada downgraded General Mills from an outperform rating to a sector perform rating and decreased their price objective for the company from $73.00 to $69.00 in a report on Thursday, December 15th. Wells Fargo & Co reaffirmed a market perform rating on shares of General Mills in a report on Tuesday, December 27th. Zacks Investment Research raised General Mills from a hold rating to a buy rating and set a $69.00 price objective on the stock in a report on Tuesday, November 22nd. Finally, Barclays PLC decreased their price objective on General Mills from $66.00 to $64.00 and set an equal weight rating on the stock in a report on Wednesday, December 21st. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $64.88.
General Mills (NYSE:GIS) opened at 59.16 on Wednesday. The firm has a market capitalization of $34.08 billion, a PE ratio of 21.92 and a beta of 0.56. The stock’s 50 day moving average price is $60.95 and its 200 day moving average price is $62.17. General Mills has a 12 month low of $58.59 and a 12 month high of $72.95.
General Mills (NYSE:GIS) last released its quarterly earnings data on Tuesday, March 21st. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.82 billion. General Mills had a return on equity of 35.10% and a net margin of 10.23%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share. Equities research analysts expect that General Mills will post $3.07 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 10th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Thursday, April 6th. General Mills’s payout ratio is currently 71.64%.
In other General Mills news, Director Robert L. Ryan sold 20,000 shares of the company’s stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $60.83, for a total transaction of $1,216,600.00. Following the transaction, the director now owns 54,676 shares of the company’s stock, valued at approximately $3,325,941.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Dodge & Cox purchased a new position in General Mills during the fourth quarter valued at about $692,000. Access Financial Services Inc. purchased a new position in General Mills during the fourth quarter valued at about $1,000,000. Norges Bank purchased a new position in General Mills during the fourth quarter valued at about $297,782,000. Sowell Financial Services LLC purchased a new position in General Mills during the fourth quarter valued at about $715,000. Finally, Willis Investment Counsel increased its position in General Mills by 5.8% in the fourth quarter. Willis Investment Counsel now owns 179,500 shares of the company’s stock valued at $11,088,000 after buying an additional 9,800 shares in the last quarter. 69.77% of the stock is currently owned by hedge funds and other institutional investors.
General Mills Company Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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