Goldman Sachs Group, Inc. (The) Reaffirms “Sell” Rating for General Mills, Inc. (GIS)
GIS has been the topic of a number of other reports. BidaskClub upgraded shares of General Mills from a hold rating to a buy rating in a research note on Tuesday, August 22nd. Consumer Edge upgraded shares of General Mills from a sell rating to a neutral rating in a research note on Friday, September 8th. Susquehanna Bancshares Inc set a $59.00 target price on shares of General Mills and gave the company a hold rating in a research note on Sunday, June 25th. BMO Capital Markets reiterated a market perform rating and issued a $57.00 target price (down from $60.00) on shares of General Mills in a research note on Thursday, September 21st. Finally, Piper Jaffray Companies reiterated a sell rating and issued a $53.00 target price on shares of General Mills in a research note on Thursday, September 21st. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. General Mills currently has an average rating of Hold and an average target price of $56.75.
Shares of General Mills (GIS) traded down 0.39% during midday trading on Wednesday, reaching $51.40. 2,606,053 shares of the company traded hands. General Mills has a 12-month low of $50.40 and a 12-month high of $64.06. The company has a 50-day moving average of $54.04 and a 200 day moving average of $56.00. The firm has a market capitalization of $29.21 billion, a PE ratio of 18.42 and a beta of 0.61.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.05). General Mills had a return on equity of 39.82% and a net margin of 10.68%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities analysts forecast that General Mills will post $3.08 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, October 6th. General Mills’s dividend payout ratio (DPR) is currently 70.25%.
A number of institutional investors have recently bought and sold shares of the stock. Lenox Wealth Management Inc. increased its holdings in General Mills by 0.3% during the 2nd quarter. Lenox Wealth Management Inc. now owns 3,242 shares of the company’s stock worth $180,000 after acquiring an additional 11 shares during the period. Lenox Wealth Advisors Inc. increased its holdings in General Mills by 0.8% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock worth $102,000 after acquiring an additional 15 shares during the period. LLBH Private Wealth Management LLC increased its holdings in General Mills by 0.6% during the 2nd quarter. LLBH Private Wealth Management LLC now owns 4,343 shares of the company’s stock worth $241,000 after acquiring an additional 25 shares during the period. Davis R M Inc. increased its holdings in General Mills by 0.8% during the 2nd quarter. Davis R M Inc. now owns 4,197 shares of the company’s stock worth $233,000 after acquiring an additional 34 shares during the period. Finally, Hanson McClain Inc. increased its holdings in General Mills by 1.5% during the 1st quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock worth $138,000 after acquiring an additional 35 shares during the period. 70.45% of the stock is currently owned by institutional investors and hedge funds.
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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