General Mills, Inc. (NYSE:GIS) has been given an average recommendation of “Hold” by the twenty-three brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $57.74.
A number of research analysts have commented on GIS shares. Zacks Investment Research cut shares of General Mills from a “hold” rating to a “sell” rating in a research report on Tuesday, November 21st. Susquehanna Bancshares set a $57.00 price target on shares of General Mills and gave the company a “hold” rating in a research report on Wednesday, December 13th. Wells Fargo & Co upgraded shares of General Mills from a “market perform” rating to an “outperform” rating and set a $63.00 price target on the stock in a research report on Monday, December 18th. Edward Jones reiterated a “hold” rating on shares of General Mills in a research report on Wednesday, December 20th. Finally, Credit Suisse Group set a $60.00 price target on shares of General Mills and gave the company a “hold” rating in a research report on Thursday, December 21st.
Shares of General Mills (NYSE GIS) traded down $0.88 during midday trading on Friday, reaching $50.93. 5,305,570 shares of the company’s stock were exchanged, compared to its average volume of 4,262,891. General Mills has a twelve month low of $49.65 and a twelve month high of $61.15. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.81 and a quick ratio of 0.53. The company has a market capitalization of $28,840.00, a PE ratio of 18.66, a P/E/G ratio of 2.15 and a beta of 0.72.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, meeting analysts’ consensus estimates of $0.82. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The business had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the business earned $0.85 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis. sell-side analysts forecast that General Mills will post 3.17 earnings per share for the current year.
General Mills declared that its Board of Directors has initiated a stock repurchase program on Friday, February 23rd that permits the company to repurchase outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
In other news, insider Bethany C. Quam sold 8,712 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total value of $517,492.80. Following the transaction, 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 currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in GIS. American International Group Inc. boosted its holdings in General Mills by 1,708.4% in the third quarter. American International Group Inc. now owns 9,027,740 shares of the company’s stock valued at $467,276,000 after acquiring an additional 8,528,534 shares in the last quarter. Stifel Financial Corp boosted its holdings in General Mills by 28,570.2% in the third quarter. Stifel Financial Corp now owns 1,671,471 shares of the company’s stock valued at $86,610,000 after acquiring an additional 1,665,641 shares in the last quarter. American Century Companies Inc. boosted its holdings in General Mills by 15.9% in the third quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock valued at $584,665,000 after acquiring an additional 1,550,074 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in General Mills by 13.5% in the fourth quarter. Bank of New York Mellon Corp now owns 8,499,301 shares of the company’s stock valued at $503,923,000 after acquiring an additional 1,009,126 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in General Mills in the fourth quarter valued at $50,956,000. Institutional investors and hedge funds own 74.34% of the company’s stock.
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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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