General Mills (NYSE:GIS) has received a consensus recommendation of “Hold” from the twenty-four research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $53.42.
GIS has been the subject of several recent analyst reports. Jefferies Group upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Wednesday, February 14th. Zacks Investment Research upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Thursday, March 15th. Wells Fargo upgraded shares of General Mills from a “market perform” rating to an “outperform” rating and set a $63.00 target price for the company in a research note on Monday, December 18th. Argus restated a “hold” rating on shares of General Mills in a research note on Wednesday, December 27th. Finally, Credit Suisse Group set a $62.00 target price on shares of General Mills and gave the stock a “hold” rating in a research note on Thursday, January 18th.
Shares of General Mills stock opened at $45.47 on Wednesday. General Mills has a 1 year low of $43.84 and a 1 year high of $60.69. The company has a current ratio of 0.69, a quick ratio of 0.45 and a debt-to-equity ratio of 1.34. The firm has a market cap of $25,851.66, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 2.04 and a beta of 0.76.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, March 21st. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. General Mills had a net margin of 13.96% and a return on equity of 37.64%. The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same period last year, the firm posted $0.72 EPS. General Mills’s revenue for the quarter was up 2.3% on a year-over-year basis. research analysts forecast that General Mills will post 3.09 EPS for the current year.
General Mills announced that its Board of Directors has approved a stock buyback plan on Friday, February 23rd that authorizes the company to repurchase shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Monday, April 9th. General Mills’s dividend payout ratio (DPR) is 63.64%.
In related news, insider Bethany C. Quam sold 8,712 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total value of $517,492.80. Following the completion of the sale, the insider now owns 36,089 shares in the company, valued at $2,143,686.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. American International Group Inc. lifted its stake in shares of General Mills by 10.3% in the fourth quarter. American International Group Inc. now owns 9,960,631 shares of the company’s stock valued at $590,566,000 after purchasing an additional 932,891 shares during the period. Bank of New York Mellon Corp raised its position in General Mills by 13.5% during the fourth quarter. Bank of New York Mellon Corp now owns 8,499,301 shares of the company’s stock worth $503,923,000 after acquiring an additional 1,009,126 shares during the last quarter. Geode Capital Management LLC raised its position in General Mills by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 6,261,796 shares of the company’s stock worth $370,514,000 after acquiring an additional 146,687 shares during the last quarter. Legal & General Group Plc raised its position in General Mills by 3.8% during the third quarter. Legal & General Group Plc now owns 3,526,158 shares of the company’s stock worth $182,549,000 after acquiring an additional 130,606 shares during the last quarter. Finally, Valueinvest Asset Management S.A. raised its position in General Mills by 3.4% during the fourth quarter. Valueinvest Asset Management S.A. now owns 3,525,000 shares of the company’s stock worth $208,997,000 after acquiring an additional 116,100 shares during the last quarter. Hedge funds and other institutional investors own 74.23% of the company’s stock.
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General Mills Company Profile
General Mills, Inc manufactures and markets branded consumer foods in the United States. The company operates in four segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; and Asia & Latin America. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, shelf stable and frozen vegetables, and ice cream and frozen desserts, as well as grain, fruit and savory snacks; and various organic products, including nutrition bars, meal kits, salty snacks, and ready-to-eat cereal.
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