BMO Capital Markets reiterated their market perform rating on shares of General Mills, Inc. (NYSE:GIS) in a report released on Thursday, September 21st. The firm currently has a $57.00 price objective on the stock, down from their previous price objective of $60.00.
A number of other research firms have also recently weighed in on GIS. BidaskClub upgraded shares of General Mills from a hold rating to a buy rating in a research report on Tuesday, August 22nd. Consumer Edge upgraded shares of General Mills from a sell rating to a neutral rating in a research report on Friday, September 8th. Susquehanna Bancshares Inc set a $59.00 price objective on shares of General Mills and gave the company a hold rating in a research report on Sunday, June 25th. Goldman Sachs Group, Inc. (The) reiterated a sell rating and set a $52.00 price objective (down previously from $59.00) on shares of General Mills in a research report on Friday, June 30th. Finally, Royal Bank Of Canada reiterated a hold rating and set a $62.00 price objective on shares of General Mills in a research report on Wednesday, September 6th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $56.75.
General Mills (NYSE:GIS) traded down 0.96% during trading on Thursday, hitting $51.76. 4,430,735 shares of the stock were exchanged. General Mills has a 52 week low of $50.40 and a 52 week high of $65.24. The firm has a market cap of $29.42 billion, a PE ratio of 18.55 and a beta of 0.62. The firm’s 50-day moving average is $55.75 and its 200 day moving average is $56.75.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.05). General Mills had a return on equity of 39.82% and a net margin of 10.68%. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the prior year, the firm posted $0.78 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Analysts expect that General Mills will post $3.08 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.49 per share. The ex-dividend date is Friday, October 6th. This represents a $1.96 annualized dividend and a dividend yield of 3.79%. General Mills’s dividend payout ratio (DPR) is currently 70.25%.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of General Mills by 1.4% during the second quarter. Vanguard Group Inc. now owns 39,968,232 shares of the company’s stock valued at $2,214,240,000 after acquiring an additional 533,919 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of General Mills by 7.3% during the second quarter. American Century Companies Inc. now owns 9,745,627 shares of the company’s stock valued at $539,908,000 after acquiring an additional 659,156 shares in the last quarter. Morgan Stanley increased its holdings in shares of General Mills by 29.4% during the first quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock valued at $416,318,000 after acquiring an additional 1,603,577 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of General Mills by 26.1% during the first quarter. Bank of New York Mellon Corp now owns 7,013,411 shares of the company’s stock valued at $413,862,000 after acquiring an additional 1,449,632 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of General Mills by 5.3% during the first quarter. Geode Capital Management LLC now owns 5,814,657 shares of the company’s stock valued at $342,642,000 after acquiring an additional 295,119 shares in the last quarter. 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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