Credit Suisse Group reiterated their neutral rating on shares of General Mills, Inc. (NYSE:GIS) in a research note released on Monday morning. The brokerage currently has a $53.00 price objective on the stock.
A number of other brokerages also recently commented on GIS. BidaskClub upgraded shares of General Mills from a hold rating to a buy rating in a report on Tuesday, August 22nd. Consumer Edge upgraded shares of General Mills from a sell rating to a neutral rating in a report on Friday, September 8th. Susquehanna Bancshares Inc set a $59.00 price target on shares of General Mills and gave the stock a hold rating in a report on Sunday, June 25th. BMO Capital Markets reiterated a market perform rating and set a $57.00 price target (down from $60.00) on shares of General Mills in a report on Thursday, September 21st. Finally, Goldman Sachs Group, Inc. (The) reiterated a sell rating and set a $52.00 price target (down from $59.00) on shares of General Mills in a report on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. General Mills has a consensus rating of Hold and an average price target of $56.75.
Shares of General Mills (NYSE:GIS) opened at 52.56 on Monday. General Mills has a 1-year low of $50.40 and a 1-year high of $65.24. The stock has a 50 day moving average of $55.75 and a 200 day moving average of $56.75. The stock has a market cap of $29.87 billion, a PE ratio of 18.83 and a beta of 0.62.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.79 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. Equities research analysts forecast that General Mills will post $3.08 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.49 per share. The ex-dividend date is Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a yield of 3.75%. General Mills’s dividend payout ratio (DPR) is 70.25%.
A number of hedge funds have recently made changes to their positions in the business. Perpetual Ltd lifted its position in General Mills by 25.8% during the second quarter. Perpetual Ltd now owns 7,325 shares of the company’s stock valued at $406,000 after buying an additional 1,500 shares in the last quarter. Bogart Wealth LLC lifted its position in General Mills by 29.2% during the second quarter. Bogart Wealth LLC now owns 7,523 shares of the company’s stock valued at $417,000 after buying an additional 1,699 shares in the last quarter. Intl Fcstone Inc. lifted its position in General Mills by 158.7% during the second quarter. Intl Fcstone Inc. now owns 32,228 shares of the company’s stock valued at $1,785,000 after buying an additional 19,769 shares in the last quarter. M Holdings Securities Inc. acquired a new position in General Mills during the second quarter valued at approximately $229,000. Finally, Gs Investments Inc. acquired a new position in General Mills during the second quarter valued at approximately $1,783,000. 69.38% of the stock is currently owned by hedge funds and other institutional investors.
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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