General Mills, Inc. (NYSE:GIS) – Jefferies Group increased their FY2018 earnings per share estimates for General Mills in a report released on Wednesday. Jefferies Group analyst A. Jagdale now anticipates that the company will post earnings per share of $3.19 for the year, up from their prior estimate of $3.08. Jefferies Group currently has a “Buy” rating and a $56.00 target price on the stock. Jefferies Group also issued estimates for General Mills’ Q4 2018 earnings at $0.88 EPS and FY2019 earnings at $3.55 EPS.
A number of other research firms also recently weighed in on GIS. Wells Fargo & Co upgraded shares of General Mills from a “market perform” rating to an “outperform” rating and set a $63.00 price target for the company in a research report on Monday, December 18th. Argus reiterated a “hold” rating on shares of General Mills in a research report on Wednesday, December 27th. Zacks Investment Research downgraded shares of General Mills from a “hold” rating to a “sell” rating in a research report on Tuesday, November 21st. Royal Bank of Canada set a $58.00 price objective on shares of General Mills and gave the company a “hold” rating in a research note on Monday, October 23rd. Finally, Credit Suisse Group set a $62.00 price objective on shares of General Mills and gave the company a “hold” rating in a research note on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company’s stock. General Mills presently has an average rating of “Hold” and an average target price of $58.28.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.82. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The company had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the business earned $0.85 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis.
Several institutional investors have recently modified their holdings of GIS. Private Advisor Group LLC lifted its holdings in General Mills by 21.8% in the second quarter. Private Advisor Group LLC now owns 55,573 shares of the company’s stock valued at $2,968,000 after buying an additional 9,952 shares during the period. LVW Advisors LLC acquired a new position in General Mills in the second quarter valued at $2,515,000. Captrust Financial Advisors acquired a new position in General Mills in the second quarter valued at $693,000. AXA lifted its holdings in General Mills by 8.5% in the second quarter. AXA now owns 1,030,200 shares of the company’s stock valued at $57,073,000 after buying an additional 81,000 shares during the period. Finally, 1st Global Advisors Inc. acquired a new position in General Mills in the second quarter valued at $2,600,000. 72.59% of the stock is currently owned by institutional investors.
In related news, insider Bethany C. Quam sold 8,712 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total value of $517,492.80. Following the sale, the insider now owns 36,089 shares of the company’s stock, valued at $2,143,686.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.53%. General Mills’s payout ratio is presently 71.79%.
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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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