General Mills (NYSE:GIS) Sets New 12-Month High at $69.76

Shares of General Mills, Inc. (NYSE:GIS) reached a new 52-week high on Friday . The stock traded as high as $69.76 and last traded at $69.74, with a volume of 101510 shares traded. The stock had previously closed at $68.90.

Several research firms have weighed in on GIS. Evercore ISI reiterated a “hold” rating and set a $65.00 price objective on shares of General Mills in a research report on Thursday, December 23rd. Royal Bank of Canada raised their price target on General Mills from $65.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 23rd. Citigroup raised their price target on General Mills from $70.00 to $73.00 and gave the stock an “action list buy” rating in a research report on Wednesday, December 22nd. Zacks Investment Research cut General Mills from a “buy” rating to a “hold” rating and set a $67.00 price target on the stock. in a research report on Friday, November 26th. Finally, Piper Sandler raised their price target on General Mills from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Thursday, December 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $65.80.

The company has a debt-to-equity ratio of 1.12, a current ratio of 0.85 and a quick ratio of 0.62. The stock has a 50-day simple moving average of $65.22 and a 200-day simple moving average of $61.75. The stock has a market cap of $42.06 billion, a P/E ratio of 18.98, a PEG ratio of 2.41 and a beta of 0.54.

General Mills (NYSE:GIS) last released its earnings results on Tuesday, December 21st. The company reported $0.99 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.05 by ($0.06). General Mills had a net margin of 12.02% and a return on equity of 23.58%. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The business’s revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that General Mills, Inc. will post 3.78 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 1st. Shareholders of record on Friday, December 10th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Friday, January 7th. General Mills’s dividend payout ratio is presently 56.20%.

In other news, CAO Mark A. Pallot sold 1,410 shares of General Mills stock in a transaction dated Monday, January 10th. The stock was sold at an average price of $69.31, for a total transaction of $97,727.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bethany C. Quam sold 14,455 shares of General Mills stock in a transaction dated Monday, January 10th. The shares were sold at an average price of $69.02, for a total value of $997,684.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,192 shares of company stock worth $5,437,448. Company insiders own 0.53% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Benjamin Edwards Inc. acquired a new position in shares of General Mills in the third quarter worth approximately $27,000. Herold Advisors Inc. acquired a new position in shares of General Mills in the third quarter worth approximately $29,000. Tompkins Financial Corp acquired a new position in shares of General Mills in the third quarter worth approximately $33,000. Ancora Advisors LLC lifted its stake in shares of General Mills by 43.8% in the second quarter. Ancora Advisors LLC now owns 611 shares of the company’s stock worth $37,000 after acquiring an additional 186 shares during the period. Finally, Guidance Point Advisors LLC acquired a new position in shares of General Mills in the third quarter worth approximately $37,000. 73.80% of the stock is currently owned by hedge funds and other institutional investors.

About General Mills (NYSE:GIS)

General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. It operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.

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