General Mills (NYSE:GIS) had its price objective boosted by Morgan Stanley from $41.00 to $49.00 in a research report released on Thursday. Morgan Stanley currently has an equal weight rating on the stock.
Several other brokerages also recently weighed in on GIS. TheStreet raised shares of General Mills from a c+ rating to a b- rating in a research note on Friday, March 15th. Credit Suisse Group increased their target price on shares of General Mills from $43.00 to $52.00 and gave the company a neutral rating in a research note on Thursday. Jefferies Financial Group reissued a buy rating and issued a $55.00 target price on shares of General Mills in a research note on Wednesday. BMO Capital Markets increased their target price on shares of General Mills from $51.00 to $53.00 and gave the company a market perform rating in a research note on Thursday. Finally, Wells Fargo & Co set a $46.00 target price on shares of General Mills and gave the company a buy rating in a research note on Thursday, December 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $49.91.
GIS stock opened at $50.74 on Thursday. General Mills has a 52 week low of $36.42 and a 52 week high of $50.98. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.55 and a quick ratio of 0.36. The firm has a market cap of $30.38 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 2.24 and a beta of 0.77.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, March 20th. The company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.14. General Mills had a net margin of 9.26% and a return on equity of 28.11%. The business had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the business earned $0.79 earnings per share. General Mills’s quarterly revenue was up 8.1% compared to the same quarter last year. Research analysts anticipate that General Mills will post 3.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Tuesday, April 9th. General Mills’s dividend payout ratio is presently 63.02%.
In related news, Director R Kerry Clark sold 7,849 shares of the firm’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $44.26, for a total value of $347,396.74. Following the transaction, the director now owns 30,215 shares of the company’s stock, valued at approximately $1,337,315.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shawn P. Ogrady sold 118,152 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $48.50, for a total transaction of $5,730,372.00. Following the completion of the transaction, the insider now directly owns 187,891 shares in the company, valued at approximately $9,112,713.50. The disclosure for this sale can be found here. Insiders sold a total of 246,723 shares of company stock worth $11,812,064 in the last ninety days. 0.59% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Sowell Financial Services LLC increased its stake in General Mills by 4.0% in the 3rd quarter. Sowell Financial Services LLC now owns 89,148 shares of the company’s stock worth $3,826,000 after buying an additional 3,467 shares during the period. Legacy Financial Advisors Inc. grew its holdings in General Mills by 80.2% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,294 shares of the company’s stock worth $50,000 after acquiring an additional 576 shares in the last quarter. Stock Yards Bank & Trust Co. grew its holdings in General Mills by 7.4% during the 4th quarter. Stock Yards Bank & Trust Co. now owns 6,207 shares of the company’s stock worth $242,000 after acquiring an additional 427 shares in the last quarter. Victory Capital Management Inc. grew its holdings in General Mills by 6.2% during the 4th quarter. Victory Capital Management Inc. now owns 294,366 shares of the company’s stock worth $11,463,000 after acquiring an additional 17,061 shares in the last quarter. Finally, HCR Wealth Advisors bought a new position in General Mills during the 4th quarter worth about $219,000. 68.19% of the stock is currently owned by institutional investors.
About General Mills
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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