General Mills Inc. (GIS) Receives $67.40 Average Target Price from Analysts
General Mills Inc. (NYSE:GIS) has been assigned a consensus rating of “Hold” from the nineteen ratings firms that are currently covering the company. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $67.40.
GIS has been the subject of a number of research reports. Zacks Investment Research cut shares of General Mills from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Consumer Edge cut shares of General Mills from a “neutral” rating to an “underperform” rating in a research note on Tuesday, September 20th. Deutsche Bank AG reissued a “hold” rating and issued a $67.00 price objective on shares of General Mills in a research note on Wednesday, September 14th. S&P Equity Research reissued a “buy” rating and issued a $70.00 price objective on shares of General Mills in a research note on Tuesday, September 27th. Finally, Credit Suisse Group AG reissued a “hold” rating and issued a $74.00 price objective on shares of General Mills in a research note on Thursday, September 8th.
Shares of General Mills (NYSE:GIS) opened at 61.04 on Friday. The stock’s 50 day moving average is $62.16 and its 200-day moving average is $66.05. General Mills has a 12-month low of $53.53 and a 12-month high of $72.95. The company has a market capitalization of $36.10 billion, a P/E ratio of 22.20 and a beta of 0.55.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, September 21st. The company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.03. General Mills had a net margin of 10.33% and a return on equity of 33.82%. The business earned $3.91 billion during the quarter. During the same period in the prior year, the company posted $0.79 earnings per share. The firm’s quarterly revenue was down 7.3% on a year-over-year basis. Analysts anticipate that General Mills will post $3.10 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Monday, October 10th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.15%. The ex-dividend date was Wednesday, October 5th. General Mills’s dividend payout ratio is presently 69.82%.
In related news, Director Michael D. Rose sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $71.11, for a total value of $711,100.00. Following the transaction, the director now owns 79,954 shares of the company’s stock, valued at approximately $5,685,528.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Hallmark Capital Management Inc. bought a new position in General Mills during the second quarter valued at approximately $103,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in General Mills during the second quarter valued at approximately $107,000. Penserra Capital Management LLC increased its position in General Mills by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,728 shares of the company’s stock valued at $110,000 after buying an additional 864 shares in the last quarter. Brick & Kyle Associates increased its position in 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 in the last quarter. Finally, Lenox Wealth Advisors Inc. increased its position in General Mills by 0.7% in the third quarter. Lenox Wealth Advisors Inc. now owns 1,790 shares of the company’s stock valued at $114,000 after buying an additional 12 shares in the last quarter. 70.02% of the stock is currently owned by institutional investors.
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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