General Mills Downgraded to “Equal Weight” at Morgan Stanley (GIS)
General Mills (NYSE: GIS) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday. The analysts noted that the move was a valuation call.
Shares of General Mills (NYSE: GIS) traded down 0.93% during mid-day trading on Monday, hitting $48.85. General Mills has a 52 week low of $36.75 and a 52 week high of $49.37. The stock’s 50-day moving average is currently $45.97. The company has a market cap of $31.491 billion and a P/E ratio of 18.06.
General Mills (NYSE: GIS) last released its earnings data on Wednesday, March 20th. The company reported $0.64 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.57 by $0.07. The company had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. General Mills has set its FY13 guidance at $2.66-2.68 EPS and its Q4 guidance at below $0.60 EPS. Analysts expect that General Mills will post $2.69 EPS for the current fiscal year.
A number of other firms have also recently commented on GIS. Analysts at Longbow Research reiterated a “buy” rating on shares of General Mills in a research note to investors on Thursday. They now have a $53.00 price target on the stock. Separately, analysts at Argus upgraded shares of General Mills from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, March 27th. They now have a $57.00 price target on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of General Mills in a research note to investors on Tuesday, March 26th.
One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $47.63.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Monday, July 8th. This is a boost from General Mills’s previous quarterly dividend of $0.33.
General Mills, Inc. (NYSE: GIS) is a manufacturer and marketer of branded consumer foods sold through retail stores.
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