Stifel Nicolaus cut shares of General Mills, Inc. (NYSE:GIS) from a buy rating to a hold rating in a research note released on Wednesday. Stifel Nicolaus currently has $60.00 price objective on the stock, down from their prior price objective of $67.00.
Several other brokerages have also issued reports on GIS. Deutsche Bank AG assumed coverage on General Mills in a research report on Wednesday, February 15th. They issued a hold rating and a $61.00 target price for the company. Royal Bank of Canada lowered General Mills from an outperform rating to a sector perform rating and decreased their target price for the stock from $73.00 to $69.00 in a research report on Thursday, December 15th. Wells Fargo & Co reissued a market perform rating on shares of General Mills in a research report on Tuesday, December 27th. Zacks Investment Research raised General Mills from a hold rating to a buy rating and set a $69.00 target price for the company in a research report on Tuesday, November 22nd. Finally, Barclays PLC decreased their target price on General Mills from $66.00 to $64.00 and set an equal weight rating for the company in a research report on Wednesday, December 21st. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $65.13.
Shares of General Mills (NYSE:GIS) opened at 58.79 on Wednesday. The company has a market capitalization of $33.87 billion, a price-to-earnings ratio of 21.78 and a beta of 0.56. The company’s 50-day moving average price is $60.84 and its 200-day moving average price is $62.04. General Mills has a one year low of $58.59 and a one year high of $72.95.
General Mills (NYSE:GIS) last announced its earnings results on Tuesday, March 21st. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. General Mills had a return on equity of 35.10% and a net margin of 10.23%. The firm earned $3.79 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the prior year, the company earned $0.65 EPS. The business’s revenue was down 5.2% compared to the same quarter last year. On average, equities research analysts predict that General Mills will post $3.07 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, April 6th. This represents a $1.92 annualized dividend and a yield of 3.27%. General Mills’s dividend payout ratio is 71.64%.
In other General Mills news, Director Robert L. Ryan sold 20,000 shares of the 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 sale, the director now directly owns 54,676 shares in the company, valued at approximately $3,325,941.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Great West Life Assurance Co. Can increased its stake in shares of General Mills by 9.2% in the third quarter. Great West Life Assurance Co. Can now owns 846,828 shares of the company’s stock valued at $54,035,000 after buying an additional 71,043 shares in the last quarter. Ffcm LLC acquired a new stake in shares of General Mills during the fourth quarter valued at approximately $1,481,000. Morgan Stanley increased its stake in shares of General Mills by 15.1% in the third quarter. Morgan Stanley now owns 4,575,674 shares of the company’s stock valued at $292,293,000 after buying an additional 600,110 shares in the last quarter. Smith Moore & CO. increased its stake in shares of General Mills by 0.4% in the fourth quarter. Smith Moore & CO. now owns 10,791 shares of the company’s stock valued at $667,000 after buying an additional 40 shares in the last quarter. Finally, Albion Financial Group UT increased its stake in shares of General Mills by 17.0% in the third quarter. Albion Financial Group UT now owns 32,472 shares of the company’s stock valued at $2,074,000 after buying an additional 4,718 shares in the last quarter. Institutional investors and hedge funds own 69.77% of the company’s stock.
About General Mills
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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