General Mills, Inc. (GIS) Earns Neutral Rating from Credit Suisse Group AG
General Mills, Inc. (NYSE:GIS)‘s stock had its “neutral” rating reissued by research analysts at Credit Suisse Group AG in a note issued to investors on Friday. They presently have a $56.00 price target on the stock, down from their previous price target of $65.00. Credit Suisse Group AG’s price target suggests a potential downside of 0.41% from the stock’s previous close.
Several other research analysts also recently issued reports on GIS. Argus reaffirmed a “hold” rating on shares of General Mills in a report on Thursday, March 23rd. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a report on Friday, March 10th. BMO Capital Markets reaffirmed a “hold” rating and set a $67.00 price objective on shares of General Mills in a report on Wednesday, March 22nd. Royal Bank of Canada reduced their price objective on General Mills from $66.00 to $65.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 22nd. Finally, Vetr downgraded General Mills from a “buy” rating to a “hold” rating and set a $57.45 price objective on the stock. in a report on Tuesday, May 2nd. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $64.09.
General Mills (NYSE:GIS) opened at 56.23 on Friday. General Mills has a 12 month low of $55.57 and a 12 month high of $72.95. The firm has a market capitalization of $32.40 billion, a PE ratio of 20.83 and a beta of 0.56. The stock’s 50 day moving average price is $57.25 and its 200 day moving average price is $60.43.
General Mills (NYSE:GIS) last announced its earnings results on Tuesday, March 21st. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.82 billion. General Mills had a return on equity of 35.10% and a net margin of 10.23%. General Mills’s revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 EPS. Equities research analysts expect that General Mills will post $3.06 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 1st. Shareholders of record on Monday, April 10th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Thursday, April 6th. General Mills’s payout ratio is 71.64%.
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In other General Mills news, insider Jonathon Nudi bought 1,800 shares of the company’s stock in a transaction on Wednesday, April 12th. The stock was bought at an average price of $57.45 per share, for a total transaction of $103,410.00. Following the transaction, the insider now owns 34,077 shares of the company’s stock, valued at approximately $1,957,723.65. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. State Street Corp boosted its stake in shares of General Mills by 0.8% in the fourth quarter. State Street Corp now owns 36,623,882 shares of the company’s stock valued at $2,262,262,000 after buying an additional 307,392 shares during the last quarter. American Century Companies Inc. boosted its stake in General Mills by 3.1% in the first quarter. American Century Companies Inc. now owns 9,086,471 shares of the company’s stock worth $536,193,000 after buying an additional 269,906 shares in the last quarter. Morgan Stanley boosted its stake in General Mills by 29.4% in the first quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock worth $416,318,000 after buying an additional 1,603,577 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in General Mills by 26.1% in the first quarter. Bank of New York Mellon Corp now owns 7,013,411 shares of the company’s stock worth $413,862,000 after buying an additional 1,449,632 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in General Mills by 5.3% in the first quarter. Geode Capital Management LLC now owns 5,814,657 shares of the company’s stock worth $342,642,000 after buying an additional 295,119 shares in the last quarter. Institutional investors own 69.77% of the company’s stock.
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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