General Mills, Inc. (NYSE:GIS) Given Average Rating of “Hold” by Brokerages
General Mills, Inc. (NYSE:GIS) has been given an average recommendation of “Hold” by the twenty-one brokerages that are presently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $59.36.
A number of analysts recently commented on GIS shares. Royal Bank Of Canada set a $65.00 price objective on General Mills and gave the stock a “hold” rating in a research report on Monday, April 24th. Vetr upgraded General Mills from a “hold” rating to a “buy” rating and set a $58.98 target price for the company in a research report on Monday, May 1st. Credit Suisse Group restated a “neutral” rating and set a $56.00 target price (down from $65.00) on shares of General Mills in a research report on Friday, May 19th. Zacks Investment Research lowered General Mills from a “hold” rating to a “sell” rating in a research report on Wednesday, May 24th. Finally, Piper Jaffray Companies began coverage on General Mills in a research report on Wednesday, May 24th. They set an “underweight” rating and a $57.00 target price for the company.
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Large investors have recently added to or reduced their stakes in the stock. Lenox Wealth Advisors Inc. boosted its stake in General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after buying an additional 15 shares during the last quarter. Cribstone Capital Management LLC boosted its stake in General Mills by 275.6% in the first quarter. Cribstone Capital Management LLC now owns 2,017 shares of the company’s stock valued at $116,000 after buying an additional 1,480 shares during the last quarter. Commonwealth Financial Services LLC boosted its stake in General Mills by 1,239.8% in the first quarter. Commonwealth Financial Services LLC now owns 2,224 shares of the company’s stock valued at $130,000 after buying an additional 2,058 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its stake in General Mills by 2.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock valued at $136,000 after buying an additional 69 shares during the last quarter. Finally, Hanson McClain Inc. boosted its stake in General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock valued at $138,000 after buying an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.
General Mills (NYSE:GIS) traded down 0.43% during trading on Friday, hitting $55.25. 980,906 shares of the stock traded hands. The stock has a market cap of $31.88 billion, a P/E ratio of 19.95 and a beta of 0.61. General Mills has a 52 week low of $53.24 and a 52 week high of $72.22. The firm’s 50-day moving average is $55.43 and its 200 day moving average is $58.37.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, June 28th. The company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.75 billion. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The company’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the company earned $0.66 earnings per share. Equities research analysts forecast that General Mills will post $3.11 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be paid a $0.49 dividend. This is a boost from General Mills’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, July 6th. This represents a $1.96 annualized dividend and a yield of 3.53%. General Mills’s payout ratio is presently 70.76%.
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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