General Mills (NYSE:GIS) had its price objective trimmed by Stifel Nicolaus from $57.00 to $48.00 in a research report sent to investors on Thursday morning, Marketbeat reports. The firm currently has a hold rating on the stock.
GIS has been the topic of several other research reports. Susquehanna Bancshares set a $61.00 target price on shares of General Mills and gave the company a hold rating in a research note on Friday, February 23rd. Societe Generale raised shares of General Mills from a sell rating to a hold rating and set a $48.00 price target for the company in a research report on Thursday. Piper Jaffray Companies raised shares of General Mills from an underweight rating to a neutral rating and set a $63.00 price target for the company in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. reduced their price target on shares of General Mills from $56.00 to $54.00 and set a neutral rating for the company in a research report on Wednesday, March 14th. Finally, Edward Jones reaffirmed a hold rating on shares of General Mills in a research report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company’s stock. General Mills currently has a consensus rating of Hold and a consensus price target of $54.32.
General Mills stock opened at $44.21 on Thursday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.69. The stock has a market cap of $25,157.44, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.87 and a beta of 0.72. General Mills has a one year low of $44.15 and a one year high of $60.69.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.43%. The ex-dividend date is Monday, April 9th. General Mills’s dividend payout ratio is 52.41%.
General Mills announced that its board has initiated a stock buyback program on Friday, February 23rd that permits the company to repurchase shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
In related news, insider Bethany C. Quam sold 8,712 shares of the stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total value of $517,492.80. Following the completion of the sale, the insider now directly owns 36,089 shares of the company’s stock, valued at approximately $2,143,686.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in GIS. Nationwide Fund Advisors grew its holdings in General Mills by 20.7% during the 3rd quarter. Nationwide Fund Advisors now owns 309,726 shares of the company’s stock valued at $16,031,000 after buying an additional 53,049 shares in the last quarter. Sky Investment Group LLC grew its holdings in General Mills by 1.3% during the 3rd quarter. Sky Investment Group LLC now owns 80,718 shares of the company’s stock valued at $4,178,000 after buying an additional 1,041 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in General Mills by 5.6% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 69,171 shares of the company’s stock valued at $3,580,000 after buying an additional 3,699 shares in the last quarter. Raymond James Trust N.A. grew its holdings in General Mills by 3.4% during the 3rd quarter. Raymond James Trust N.A. now owns 69,396 shares of the company’s stock valued at $3,592,000 after buying an additional 2,280 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in General Mills by 18.4% during the 3rd quarter. First Trust Advisors LP now owns 903,566 shares of the company’s stock valued at $46,769,000 after buying an additional 140,533 shares in the last quarter. 74.20% of the stock is owned by institutional investors.
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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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