Gabelli Equities Analysts Raise Earnings Estimates for General Mills, Inc. (NYSE:GIS)
General Mills, Inc. (NYSE:GIS) – Research analysts at Gabelli increased their FY2018 earnings per share estimates for shares of General Mills in a report issued on Thursday. Gabelli analyst S. Donnelly now forecasts that the company will earn $3.15 per share for the year, up from their prior forecast of $3.10. Gabelli also issued estimates for General Mills’ FY2020 earnings at $3.45 EPS and FY2021 earnings at $3.60 EPS.
GIS has been the topic of a number of other research reports. Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Royal Bank Of Canada dropped their target price on shares of General Mills from $65.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Thursday, June 29th. Sanford C. Bernstein lowered shares of General Mills from a “market perform” rating to an “underperform” rating and set a $52.00 target price on the stock. in a research report on Tuesday, March 21st. Vetr raised shares of General Mills from a “hold” rating to a “buy” rating and set a $57.82 target price on the stock in a research report on Tuesday, June 27th. Finally, Stifel Nicolaus dropped their target price on shares of General Mills from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Thursday, June 29th. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $59.93.
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General Mills (NYSE GIS) opened at 53.74 on Monday. The firm’s 50-day moving average is $56.80 and its 200-day moving average is $59.47. General Mills has a 1-year low of $53.24 and a 1-year high of $72.70. The company has a market capitalization of $31.01 billion, a P/E ratio of 19.40 and a beta of 0.61.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 28th. The company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. General Mills had a net margin of 10.61% and a return on equity of 38.97%. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the firm posted $0.66 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 10th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.65%. This is a boost from General Mills’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, July 6th. General Mills’s payout ratio is currently 70.76%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in General Mills during the fourth quarter worth about $297,782,000. Morgan Stanley boosted its position 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 position 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. Renaissance Technologies LLC boosted its position in General Mills by 146.2% in the first quarter. Renaissance Technologies LLC now owns 2,004,300 shares of the company’s stock worth $118,274,000 after buying an additional 1,190,200 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in General Mills by 52.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,701,863 shares of the company’s stock worth $166,894,000 after buying an additional 925,485 shares in the last quarter. 70.40% of the stock is owned by institutional investors and hedge funds.
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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