Shares of General Mills, Inc. (NYSE:GIS) have been given a consensus recommendation of “Hold” by the twenty-one analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $53.94.
GIS has been the topic of several analyst reports. Goldman Sachs Group downgraded General Mills from a “neutral” rating to a “sell” rating and set a $41.00 price objective on the stock. in a report on Tuesday, May 28th. Bank of America restated a “neutral” rating and set a $49.00 price objective on shares of General Mills in a report on Friday, May 17th. Morgan Stanley lifted their price objective on General Mills from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, June 27th. Evercore ISI initiated coverage on General Mills in a report on Tuesday, June 11th. They set an “in-line” rating and a $56.00 price objective on the stock. Finally, Guggenheim lifted their price objective on General Mills from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Krane Funds Advisors LLC acquired a new position in General Mills during the 2nd quarter worth $25,000. Ellevest Inc. acquired a new position in General Mills during the 2nd quarter worth $28,000. Capital International Ltd. CA acquired a new position in General Mills during the 2nd quarter worth $30,000. Employers Holdings Inc. acquired a new position in General Mills during the 2nd quarter worth $32,000. Finally, Certified Advisory Corp boosted its position in General Mills by 100.9% during the 1st quarter. Certified Advisory Corp now owns 643 shares of the company’s stock worth $33,000 after acquiring an additional 323 shares during the period. Hedge funds and other institutional investors own 70.41% of the company’s stock.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 26th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. General Mills had a return on equity of 27.67% and a net margin of 10.39%. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the business earned $0.79 EPS. General Mills’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, analysts expect that General Mills will post 3.37 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.65%. General Mills’s payout ratio is currently 60.87%.
About General Mills
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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