General Mills’ (GIS) “Hold” Rating Reaffirmed at Barclays

Barclays reiterated their hold rating on shares of General Mills (NYSE:GIS) in a research note released on Friday. They currently have a $48.00 target price on the stock.

Several other research firms have also commented on GIS. JPMorgan Chase & Co. cut their price objective on General Mills to $44.00 and set a neutral rating for the company in a research note on Thursday. Wells Fargo upgraded General Mills from a market perform rating to an outperform rating and set a $63.00 price objective for the company in a research note on Monday, December 18th. Argus reiterated a hold rating on shares of General Mills in a research note on Wednesday, December 27th. Piper Jaffray Companies reiterated a hold rating and set a $49.00 price objective on shares of General Mills in a research note on Thursday. Finally, Morgan Stanley cut their price objective on General Mills from $58.00 to $48.00 and set an equal weight rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company. General Mills currently has a consensus rating of Hold and an average price target of $54.32.

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Shares of General Mills (GIS) traded down $0.24 during trading on Friday, hitting $44.21. The company had a trading volume of 10,247,960 shares, compared to its average volume of 7,560,856. The company has a current ratio of 0.69, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. General Mills has a 1 year low of $44.15 and a 1 year high of $60.69. The stock has a market cap of $25,294.00, a price-to-earnings ratio of 11.82, a PEG ratio of 1.88 and a beta of 0.72.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, March 21st. The company reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. General Mills had a return on equity of 37.64% and a net margin of 13.96%. The company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period in the previous year, the business earned $0.72 EPS. General Mills’s quarterly revenue was up 2.3% on a year-over-year basis. sell-side analysts anticipate that General Mills will post 3.11 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend is Monday, April 9th. General Mills’s dividend payout ratio is currently 52.41%.

General Mills declared that its Board of Directors has authorized a stock buyback program on Friday, February 23rd that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

In other news, insider Bethany C. Quam sold 8,712 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total transaction of $517,492.80. Following the transaction, the insider now directly owns 36,089 shares in the company, valued at approximately $2,143,686.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Crossmark Global Holdings Inc. lifted its holdings in General Mills by 0.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 191,721 shares of the company’s stock valued at $11,367,000 after acquiring an additional 933 shares during the last quarter. First Fiduciary Investment Counsel Inc. lifted its holdings in General Mills by 0.4% in the third quarter. First Fiduciary Investment Counsel Inc. now owns 216,290 shares of the company’s stock valued at $11,195,000 after acquiring an additional 945 shares during the last quarter. Premier Asset Management LLC lifted its holdings in General Mills by 8.5% in the third quarter. Premier Asset Management LLC now owns 12,100 shares of the company’s stock valued at $626,000 after acquiring an additional 950 shares during the last quarter. Trust Co lifted its holdings in General Mills by 17.3% in the third quarter. Trust Co now owns 6,600 shares of the company’s stock valued at $342,000 after acquiring an additional 974 shares during the last quarter. Finally, Brown Advisory Securities LLC lifted its holdings in General Mills by 9.7% in the third quarter. Brown Advisory Securities LLC now owns 11,078 shares of the company’s stock valued at $574,000 after acquiring an additional 975 shares during the last quarter. Institutional investors and hedge funds own 74.20% of the company’s stock.

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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.

Analyst Recommendations for General Mills (NYSE:GIS)

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