General Mills, Inc. (NYSE:GIS)‘s stock had its “hold” rating reiterated by equities research analysts at Argus in a research report issued on Thursday.
A number of other brokerages have also issued reports on GIS. Deutsche Bank AG began coverage on shares of General Mills in a research note on Wednesday, February 15th. They set a “hold” rating and a $61.00 price target on the stock. Royal Bank of Canada lowered shares of General Mills from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $73.00 to $69.00 in a research note on Thursday, December 15th. Wells Fargo & Co restated a “market perform” rating on shares of General Mills in a research note on Tuesday, December 27th. Barclays PLC cut their price target on shares of General Mills from $66.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 21st. Finally, Credit Suisse Group AG restated a “neutral” rating and set a $65.00 price target on shares of General Mills in a research note on Thursday, February 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. General Mills currently has a consensus rating of “Hold” and an average price target of $64.88.
Shares of General Mills (NYSE:GIS) opened at 59.16 on Thursday. The firm has a 50-day moving average of $60.95 and a 200-day moving average of $62.17. The company has a market capitalization of $34.31 billion, a P/E ratio of 22.09 and a beta of 0.56. General Mills has a one year low of $58.59 and a one year high of $72.95.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Tuesday, March 21st. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.01. General Mills had a net margin of 10.23% and a return on equity of 35.10%. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the prior year, the business posted $0.65 EPS. General Mills’s revenue for the quarter was down 5.2% compared to the same quarter last year. Analysts forecast that General Mills will post $3.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Thursday, April 6th. General Mills’s dividend payout ratio (DPR) is presently 71.64%.
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In related news, Director Robert L. Ryan sold 20,000 shares of the stock in a transaction on Wednesday, January 11th. The shares were 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 of the company’s stock, valued at $3,325,941.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in GIS. Macquarie Group Ltd. increased its stake in shares of General Mills by 7.3% in the second quarter. Macquarie Group Ltd. now owns 347,763 shares of the company’s stock worth $24,803,000 after buying an additional 23,604 shares during the period. Advisory Services Network LLC increased its stake in shares of General Mills by 2.5% in the third quarter. Advisory Services Network LLC now owns 1,985 shares of the company’s stock worth $127,000 after buying an additional 48 shares during the period. City Holding Co. increased its stake in shares of General Mills by 4.2% in the third quarter. City Holding Co. now owns 38,265 shares of the company’s stock worth $2,444,000 after buying an additional 1,550 shares during the period. Fisher Asset Management LLC increased its stake in shares of General Mills by 1.0% in the third quarter. Fisher Asset Management LLC now owns 6,947 shares of the company’s stock worth $444,000 after buying an additional 66 shares during the period. Finally, PacWest Financial Management Inc increased its stake in shares of General Mills by 6.1% in the third quarter. PacWest Financial Management Inc now owns 31,096 shares of the company’s stock worth $1,986,000 after buying an additional 1,800 shares during the period. 69.77% of the stock is currently owned by hedge funds and other institutional investors.
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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