Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded General Mills from a buy rating to a hold rating in a research note on Thursday, August 4th. Consumer Edge downgraded General Mills from a neutral rating to an underperform rating in a research note on Tuesday, September 20th. Royal Bank Of Canada reiterated an outperform rating and set a $70.00 target price (up from $64.00) on shares of General Mills in a research note on Friday, June 17th. Deutsche Bank AG reiterated a hold rating and set a $67.00 target price on shares of General Mills in a research note on Wednesday, September 14th. Finally, Goldman Sachs Group Inc. reiterated a sell rating and set a $61.00 target price (up from $60.00) on shares of General Mills in a research note on Friday, July 15th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. General Mills has an average rating of Hold and an average target price of $68.22.
General Mills (NYSE:GIS) opened at 63.66 on Tuesday. The company’s 50 day moving average price is $68.19 and its 200 day moving average price is $66.19. General Mills has a 12 month low of $53.53 and a 12 month high of $72.95. The stock has a market cap of $37.65 billion, a PE ratio of 23.15 and a beta of 0.38.
General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, September 21st. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.03. The company had revenue of $3.91 billion for the quarter. General Mills had a return on equity of 33.82% and a net margin of 10.33%. The business’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 EPS. Equities analysts forecast that General Mills will post $3.11 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be issued a dividend of $0.48 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a yield of 3.02%. General Mills’s dividend payout ratio is presently 69.82%.
In other news, Director Michael D. Rose sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $72.32, for a total transaction of $723,200.00. Following the completion of the transaction, the director now owns 71,240 shares in the company, valued at $5,152,076.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jerald A. Young sold 27,890 shares of the firm’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $72.03, for a total value of $2,008,916.70. Following the transaction, the vice president now owns 86,271 shares of the company’s stock, valued at approximately $6,214,100.13. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of GIS. GaveKal Capital LLC raised its position in shares of General Mills by 5.0% in the second quarter. GaveKal Capital LLC now owns 273,177 shares of the company’s stock worth $19,483,000 after buying an additional 12,990 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of General Mills by 647.8% in the first quarter. Panagora Asset Management Inc. now owns 1,363,848 shares of the company’s stock worth $86,400,000 after buying an additional 1,181,476 shares during the last quarter. Aviance Capital Management LLC raised its position in shares of General Mills by 36.6% in the second quarter. Aviance Capital Management LLC now owns 197,419 shares of the company’s stock worth $14,080,000 after buying an additional 52,915 shares during the last quarter. IMS Capital Management purchased a new position in shares of General Mills during the second quarter worth $212,000. Finally, State of Alaska Department of Revenue raised its position in shares of General Mills by 5.3% in the second quarter. State of Alaska Department of Revenue now owns 180,110 shares of the company’s stock worth $12,844,000 after buying an additional 9,006 shares during the last quarter. Hedge funds and other institutional investors own 69.13% 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 also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S.
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