Susquehanna Bancshares upgraded shares of General Mills (NYSE:GIS) from a neutral rating to a positive rating in a research report sent to investors on Friday, Marketbeat Ratings reports.
Several other analysts also recently issued reports on the company. UBS raised General Mills from a neutral rating to a positive rating in a research note on Friday. Morgan Stanley cut their price target on General Mills from $58.00 to $48.00 and set an equal weight rating for the company in a report on Thursday. JPMorgan Chase & Co. cut their price target on General Mills to $44.00 and set a neutral rating for the company in a report on Thursday. Stifel Nicolaus cut their price target on General Mills from $57.00 to $48.00 and set a hold rating for the company in a report on Thursday. Finally, Piper Jaffray Companies restated a hold rating and set a $49.00 price target on shares of General Mills in a report on Thursday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $54.32.
Shares of General Mills (GIS) traded down $0.24 on Friday, reaching $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 market cap of $25,294.00, a P/E ratio of 11.82, a PEG ratio of 1.88 and a beta of 0.72. General Mills has a 52 week low of $44.15 and a 52 week high of $60.69. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.69 and a quick ratio of 0.53.
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 $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend is Monday, April 9th. General Mills’s dividend payout ratio (DPR) is 52.41%.
General Mills declared that its Board of Directors has approved a share buyback program on Friday, February 23rd that authorizes the company to repurchase shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
In other news, insider Bethany C. Quam sold 8,712 shares of General Mills stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total value of $517,492.80. Following the completion of the transaction, the insider now owns 36,089 shares in the company, valued at approximately $2,143,686.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in GIS. Nationwide Fund Advisors boosted its holdings in shares of General Mills by 20.7% in the 3rd quarter. Nationwide Fund Advisors now owns 309,726 shares of the company’s stock worth $16,031,000 after purchasing an additional 53,049 shares during the period. Korea Investment CORP lifted its stake in shares of General Mills by 3.9% during the 3rd quarter. Korea Investment CORP now owns 251,996 shares of the company’s stock worth $13,043,000 after acquiring an additional 9,500 shares during the last quarter. First Bank & Trust lifted its stake in shares of General Mills by 12.2% during the 3rd quarter. First Bank & Trust now owns 14,340 shares of the company’s stock worth $742,000 after acquiring an additional 1,562 shares during the last quarter. Calamos Advisors LLC lifted its stake in shares of General Mills by 3.8% during the 3rd quarter. Calamos Advisors LLC now owns 68,979 shares of the company’s stock worth $3,570,000 after acquiring an additional 2,529 shares during the last quarter. Finally, Excalibur Management Corp lifted its stake in shares of General Mills by 75.2% during the 3rd quarter. Excalibur Management Corp now owns 14,573 shares of the company’s stock worth $754,000 after acquiring an additional 6,254 shares during the last quarter. Hedge funds and other institutional investors 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.
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