General Mills, Inc. (GIS) Given “Sell” Rating at Goldman Sachs Group, Inc. (The)
A number of other equities analysts have also recently issued reports on the stock. Royal Bank Of Canada set a $62.00 price target on shares of General Mills and gave the stock a hold rating in a research note on Wednesday, August 2nd. Consumer Edge upgraded shares of General Mills from a sell rating to a neutral rating in a research note on Friday, September 8th. Morgan Stanley reiterated an equal weight rating and issued a $55.00 price target (down previously from $58.00) on shares of General Mills in a research note on Sunday, June 25th. Vetr upgraded shares of General Mills from a hold rating to a buy rating and set a $57.82 price target on the stock in a research note on Tuesday, June 27th. Finally, BidaskClub cut shares of General Mills from a hold rating to a sell rating in a research note on Saturday, June 24th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $56.75.
General Mills (GIS) traded up 0.15% on Wednesday, hitting $52.09. 3,220,441 shares of the company were exchanged. General Mills has a 52 week low of $50.40 and a 52 week high of $64.06. The company has a 50 day moving average price of $54.37 and a 200-day moving average price of $56.09. The stock has a market capitalization of $29.60 billion, a P/E ratio of 18.66 and a beta of 0.61.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.05). The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.79 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 EPS. On average, equities analysts expect that General Mills will post $3.08 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 3.76%. The ex-dividend date is Friday, October 6th. General Mills’s dividend payout ratio is currently 70.25%.
Several large investors have recently modified their holdings of GIS. Waldron LP bought a new position in shares of General Mills in the 1st quarter worth approximately $420,000. Capital One National Association lifted its stake in shares of General Mills by 1.0% in the 1st quarter. Capital One National Association now owns 11,511 shares of the company’s stock worth $679,000 after purchasing an additional 116 shares during the period. Elkhorn Investments LLC bought a new position in shares of General Mills in the 1st quarter worth approximately $1,096,000. First Trust Advisors LP lifted its stake in shares of General Mills by 44.2% in the 1st quarter. First Trust Advisors LP now owns 368,751 shares of the company’s stock worth $21,760,000 after purchasing an additional 113,091 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of General Mills by 3.1% in the 1st quarter. American Century Companies Inc. now owns 9,086,471 shares of the company’s stock worth $536,193,000 after purchasing an additional 269,906 shares during the period. Hedge funds and other institutional investors own 70.45% 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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