General Mills (NYSE:GIS) shares reached a new 52-week high and low on Friday . The company traded as low as $43.55 and last traded at $43.45, with a volume of 2367727 shares. The stock had previously closed at $44.03.
A number of research analysts recently weighed in on GIS shares. Jefferies Group reaffirmed a “buy” rating and set a $63.00 price target on shares of General Mills in a research note on Friday, February 23rd. Zacks Investment Research raised General Mills from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Monday, February 26th. Wells Fargo set a $65.00 price target on General Mills and gave the stock a “buy” rating in a research note on Thursday, December 21st. Citigroup dropped their price target on General Mills from $71.00 to $69.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Finally, TheStreet downgraded General Mills from a “b-” rating to a “c+” rating in a research note on Monday, April 2nd. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company. General Mills presently has a consensus rating of “Hold” and a consensus price target of $53.71.
The firm has a market cap of $25,453.33, a PE ratio of 14.30, a P/E/G ratio of 2.01 and a beta of 0.76. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.69 and a quick ratio of 0.45.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, March 21st. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.01. The company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.87 billion. General Mills had a return on equity of 37.64% and a net margin of 13.96%. General Mills’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. equities analysts predict that General Mills will post 3.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend is Monday, April 9th. General Mills’s dividend payout ratio is presently 63.64%.
General Mills declared that its board has initiated a stock repurchase plan on Friday, February 23rd that allows the company to repurchase shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
Several hedge funds have recently added to or reduced their stakes in GIS. Dimensional Fund Advisors LP grew its holdings in shares of General Mills by 3.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,577,976 shares of the company’s stock valued at $81,681,000 after acquiring an additional 49,734 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of General Mills by 6.0% in the third quarter. Envestnet Asset Management Inc. now owns 142,257 shares of the company’s stock valued at $7,363,000 after acquiring an additional 8,103 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of General Mills by 35.7% in the third quarter. Synovus Financial Corp now owns 417,373 shares of the company’s stock valued at $21,608,000 after acquiring an additional 109,803 shares in the last quarter. Engineers Gate Manager LP grew its holdings in shares of General Mills by 565.8% in the third quarter. Engineers Gate Manager LP now owns 72,136 shares of the company’s stock valued at $3,734,000 after acquiring an additional 61,301 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of General Mills by 2.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 218,075 shares of the company’s stock valued at $11,335,000 after acquiring an additional 4,300 shares in the last quarter. 74.22% of the stock is owned by institutional investors.
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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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