General Mills Inc. (NYSE:GIS) Given Consensus Recommendation of “Hold” by Analysts
Shares of General Mills Inc. (NYSE:GIS) have earned an average recommendation of “Hold” from the nineteen research firms that are presently covering the stock. Three equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $67.40.
GIS has been the subject of several analyst reports. Zacks Investment Research upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a report on Tuesday, July 5th. Citigroup Inc. restated a “buy” rating and issued a $76.00 target price (up previously from $72.00) on shares of General Mills in a report on Wednesday, June 29th. S&P Equity Research reiterated a “buy” rating and issued a $70.00 price target on shares of General Mills in a research report on Tuesday, September 27th. Morgan Stanley reiterated an “equal weight” rating and issued a $63.00 price target on shares of General Mills in a research report on Thursday, June 30th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $66.00 price target on shares of General Mills in a research report on Friday, September 23rd.
In other General Mills news, COO Jeffrey L. Harmening sold 33,150 shares of General Mills stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $71.05, for a total value of $2,355,307.50. Following the completion of the transaction, the chief operating officer now directly owns 133,106 shares of the company’s stock, valued at approximately $9,457,181.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael D. Rose sold 10,000 shares of General Mills stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $71.11, for a total value of $711,100.00. Following the completion of the transaction, the director now directly owns 79,954 shares of the company’s stock, valued at $5,685,528.94. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Hallmark Capital Management Inc. acquired a new position in shares of General Mills during the second quarter valued at about $103,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in shares of General Mills during the second quarter valued at about $107,000. Brick & Kyle Associates raised its position in shares of General Mills by 6.7% in the second quarter. Brick & Kyle Associates now owns 1,592 shares of the company’s stock valued at $114,000 after buying an additional 100 shares during the last quarter. Lenox Wealth Advisors Inc. raised its position in shares of General Mills by 0.7% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,778 shares of the company’s stock valued at $127,000 after buying an additional 13 shares during the last quarter. Finally, Hanson & Doremus Investment Management raised its position in shares of General Mills by 5.7% in the second quarter. Hanson & Doremus Investment Management now owns 1,866 shares of the company’s stock valued at $133,000 after buying an additional 100 shares during the last quarter. 70.08% of the stock is owned by hedge funds and other institutional investors.
General Mills (NYSE:GIS) traded down 0.87% during midday trading on Friday, reaching $61.88. 1,296,456 shares of the company were exchanged. The company has a market capitalization of $36.59 billion, a PE ratio of 22.50 and a beta of 0.45. The firm has a 50-day moving average price of $67.08 and a 200-day moving average price of $66.25. General Mills has a 52 week low of $53.53 and a 52 week high of $72.95.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 21st. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The firm earned $3.91 billion during the quarter. General Mills had a net margin of 10.33% and a return on equity of 33.82%. The company’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 EPS. Equities research analysts anticipate that General Mills will post $3.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.92 annualized dividend and a yield of 3.08%. General Mills’s payout ratio is currently 69.82%.
About General Mills
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S.
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