Piper Jaffray Companies restated their hold rating on shares of General Mills (NYSE:GIS) in a research report report published on Thursday morning, Marketbeat.com reports. They currently have a $49.00 target price on the stock.
A number of other analysts have also recently weighed in on GIS. Susquehanna Bancshares set a $57.00 target price on shares of General Mills and gave the stock a hold rating in a research note on Wednesday, December 13th. Wells Fargo raised shares of General Mills from a market perform rating to an outperform rating and set a $63.00 target price on the stock in a research note on Monday, December 18th. Zacks Investment Research raised shares of General Mills from a sell rating to a hold rating in a research note on Tuesday, December 19th. Edward Jones reiterated a hold rating on shares of General Mills in a report on Wednesday, December 20th. Finally, Credit Suisse Group set a $60.00 price target on shares of General Mills and gave the stock a hold rating in a report on Thursday, December 21st. One 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. The stock currently has an average rating of Hold and a consensus price target of $54.32.
Shares of General Mills stock opened at $44.21 on Thursday. The firm has a market cap of $25,157.44, a price-to-earnings ratio of 11.82, 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 has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.69.
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. The ex-dividend date of this dividend is Monday, April 9th. This represents a $1.96 annualized dividend and a yield of 4.43%. General Mills’s payout ratio is 52.41%.
General Mills declared that its board has initiated a stock repurchase plan on Friday, February 23rd that permits the company to repurchase outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Bethany C. Quam sold 8,712 shares of the business’s stock in a transaction 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 transaction, the insider now owns 36,089 shares in the company, valued at $2,143,686.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.40% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in GIS. Nationwide Fund Advisors lifted its holdings in General Mills by 20.7% in the third 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 during the period. Sky Investment Group LLC lifted its holdings in General Mills by 1.3% in the third 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 during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in General Mills by 5.6% in the third 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 during the period. Raymond James Trust N.A. lifted its holdings in General Mills by 3.4% in the third 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 during the period. Finally, First Trust Advisors LP lifted its holdings in General Mills by 18.4% in the third 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 during the period. Institutional investors and hedge funds own 74.20% of the company’s stock.
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General Mills Company Profile
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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