General Mills Inc. (NYSE:GIS) Given Consensus Recommendation of “Hold” by Analysts
General Mills Inc. (NYSE:GIS) has earned an average recommendation of “Hold” from the nineteen analysts that are currently covering the firm. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $67.40.
Several analysts have issued reports on the company. Morgan Stanley restated a “hold” rating on shares of General Mills in a report on Sunday, July 17th. Royal Bank Of Canada lifted their target price on General Mills from $70.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, June 30th. Citigroup Inc. reaffirmed a “buy” rating and set a $76.00 target price (up previously from $72.00) on shares of General Mills in a research note on Wednesday, June 29th. Credit Agricole SA set a $65.00 target price on General Mills and gave the company a “sell” rating in a research note on Thursday, September 22nd. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and set a $68.00 target price on shares of General Mills in a research note on Thursday, September 22nd.
In other General Mills news, Director Michael D. Rose sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $71.11, for a total transaction of $711,100.00. Following the sale, the director now owns 79,954 shares in the company, valued at $5,685,528.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jerald A. Young sold 27,890 shares of the firm’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $72.03, for a total value of $2,008,916.70. Following the sale, the vice president now owns 86,271 shares in the company, valued at approximately $6,214,100.13. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
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A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in General Mills by 2.8% in the second quarter. Vanguard Group Inc. now owns 42,294,810 shares of the company’s stock worth $3,016,466,000 after buying an additional 1,144,897 shares during the last quarter. State Street Corp increased its stake in General Mills by 2.1% in the first quarter. State Street Corp now owns 36,502,697 shares of the company’s stock worth $2,312,451,000 after buying an additional 736,454 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in General Mills by 8.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 19,026,634 shares of the company’s stock worth $1,205,337,000 after buying an additional 1,447,446 shares during the last quarter. BlackRock Fund Advisors increased its stake in General Mills by 8.9% in the second quarter. BlackRock Fund Advisors now owns 14,309,161 shares of the company’s stock worth $1,020,529,000 after buying an additional 1,167,197 shares during the last quarter. Finally, BlackRock Group LTD increased its stake in General Mills by 1.6% in the second quarter. BlackRock Group LTD now owns 7,035,387 shares of the company’s stock worth $501,764,000 after buying an additional 111,295 shares during the last quarter. Institutional investors and hedge funds own 70.08% of the company’s stock.
General Mills (NYSE:GIS) traded down 0.87% during mid-day trading on Friday, hitting $61.88. 1,297,191 shares of the stock were exchanged. The stock has a market cap of $36.59 billion, a price-to-earnings ratio of 22.50 and a beta of 0.45. The company has a 50 day moving average price of $67.08 and a 200 day moving average price of $66.25. General Mills has a 52 week low of $53.53 and a 52 week high of $72.95.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, September 21st. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03. The firm had revenue of $3.91 billion for the quarter. General Mills had a return on equity of 33.82% and a net margin of 10.33%. General Mills’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 EPS. Analysts expect that General Mills will post $3.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be given a dividend of $0.48 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.92 dividend on an annualized basis and a yield of 3.08%. General Mills’s payout ratio is 69.82%.
About General Mills
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S.
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