BMO Capital Markets reissued their market perform rating on shares of General Mills, Inc. (NYSE:GIS) in a report released on Thursday, September 21st. BMO Capital Markets currently has a $57.00 price target on the stock, down from their prior price target of $60.00.
A number of other research firms also recently commented on GIS. BidaskClub upgraded General Mills from a sell rating to a hold rating in a report on Thursday, June 15th. Zacks Investment Research upgraded General Mills from a sell rating to a hold rating in a report on Friday, June 2nd. Susquehanna Bancshares Inc reaffirmed a neutral rating and set a $59.00 price target (down from $62.00) on shares of General Mills in a research report on Tuesday, May 30th. Piper Jaffray Companies reaffirmed an underweight rating and set a $56.00 price target (down from $57.00) on shares of General Mills in a research report on Monday, June 19th. Finally, UBS AG reaffirmed a neutral rating and set a $61.00 price target (down from $63.00) on shares of General Mills in a research report on Wednesday, June 21st. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $56.75.
Shares of General Mills (NYSE GIS) traded down 0.96% on Thursday, reaching $51.76. The company’s stock had a trading volume of 4,430,735 shares. General Mills has a 12-month low of $50.40 and a 12-month high of $65.24. The stock has a market cap of $29.42 billion, a PE ratio of 18.55 and a beta of 0.62. The firm has a 50 day moving average price of $55.75 and a 200-day moving average price of $56.75.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.05). The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.79 billion. General Mills had a net margin of 10.68% and a return on equity of 39.82%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 earnings per share. Equities research analysts expect that General Mills will post $3.08 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be paid a $0.49 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.79%. General Mills’s dividend payout ratio (DPR) is presently 70.25%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GIS. Waldron LP acquired a new stake in General Mills during the first quarter worth about $420,000. Vigilant Capital Management LLC raised its stake in General Mills by 5.7% during the first quarter. Vigilant Capital Management LLC now owns 3,718 shares of the company’s stock worth $219,000 after acquiring an additional 200 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its stake in General Mills by 10.6% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 49,395 shares of the company’s stock worth $2,914,000 after acquiring an additional 4,740 shares during the period. Bridge Creek Capital Management LLC raised its stake in General Mills by 3.2% during the first quarter. Bridge Creek Capital Management LLC now owns 63,059 shares of the company’s stock worth $3,721,000 after acquiring an additional 1,960 shares during the period. Finally, Arrow Financial Corp raised its stake in General Mills by 1.2% during the first quarter. Arrow Financial Corp now owns 48,961 shares of the company’s stock worth $2,889,000 after acquiring an additional 570 shares during the period. Hedge funds and other institutional investors own 69.38% of the company’s stock.
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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