General Mills (NYSE:GIS) had its price target cut by Citigroup from $61.00 to $54.00 in a research note released on Friday. They currently have a buy rating on the stock.
A number of other brokerages also recently issued reports on GIS. JPMorgan Chase & Co. reduced their price target on General Mills to $44.00 and set a neutral rating on the stock in a report on Thursday, March 22nd. Zacks Investment Research upgraded General Mills from a sell rating to a hold rating in a report on Tuesday, June 26th. TheStreet downgraded General Mills from a b- rating to a c+ rating in a report on Monday, April 2nd. Piper Jaffray Companies restated a hold rating and set a $49.00 price target on shares of General Mills in a report on Thursday, March 22nd. Finally, Morgan Stanley reduced their price target on General Mills from $58.00 to $48.00 and set an equal weight rating on the stock in a report on Thursday, March 22nd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $50.71.
Shares of General Mills opened at $44.26 on Friday, MarketBeat Ratings reports. General Mills has a 1 year low of $41.01 and a 1 year high of $60.69. The stock has a market cap of $25.19 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 1.70 and a beta of 0.79. The company has a current ratio of 0.56, a quick ratio of 0.34 and a debt-to-equity ratio of 1.95.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 27th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.07. General Mills had a return on equity of 35.14% and a net margin of 13.54%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the business earned $0.73 EPS. General Mills’s revenue was up 2.2% compared to the same quarter last year. analysts expect that General Mills will post 3.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Tuesday, July 10th will be issued a dividend of $0.49 per share. The ex-dividend date is Monday, July 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.43%. General Mills’s dividend payout ratio (DPR) is 63.02%.
In related news, CEO Jeffrey L. Harmening purchased 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 23rd. The shares were bought at an average price of $42.18 per share, for a total transaction of $253,080.00. Following the purchase, the chief executive officer now directly owns 114,696 shares of the company’s stock, valued at approximately $4,837,877.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Avestar Capital LLC purchased a new stake in shares of General Mills in the 4th quarter worth approximately $100,000. Truewealth LLC purchased a new stake in shares of General Mills in the 4th quarter worth approximately $119,000. Financial Gravity Companies Inc. purchased a new stake in shares of General Mills in the 4th quarter worth approximately $131,000. Lee Financial Co grew its stake in shares of General Mills by 178.2% in the 1st quarter. Lee Financial Co now owns 2,504 shares of the company’s stock worth $113,000 after buying an additional 1,604 shares during the last quarter. Finally, Institutional & Family Asset Management LLC purchased a new stake in shares of General Mills in the 1st quarter worth approximately $115,000. Institutional investors own 74.58% of the company’s stock.
About General Mills
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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