General Mills, Inc. (NYSE:GIS)’s share price reached a new 52-week high and low during mid-day trading on Monday . The stock traded as low as $43.84 and last traded at $44.09, with a volume of 9598784 shares changing hands. The stock had previously closed at $45.06.
Several equities analysts have recently issued reports on GIS shares. Jefferies Group upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Wednesday, February 14th. Wells Fargo upgraded shares of General Mills from a “market perform” rating to an “outperform” rating and set a $63.00 target price for the company in a report on Monday, December 18th. Zacks Investment Research upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Thursday, March 15th. Argus reissued a “hold” rating on shares of General Mills in a research report on Wednesday, December 27th. Finally, Credit Suisse Group set a $62.00 price target on shares of General Mills and gave the company a “hold” rating in a research report on Thursday, January 18th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.71.
The company has a current ratio of 0.69, a quick ratio of 0.45 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $25,641.11, a P/E ratio of 14.31, a P/E/G ratio of 2.02 and a beta of 0.77.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, March 21st. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. General Mills had a net margin of 13.96% and a return on equity of 37.64%. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. equities analysts predict that General Mills, Inc. will post 3.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date is Monday, April 9th. General Mills’s dividend payout ratio (DPR) is presently 63.64%.
General Mills announced that its board has approved a share repurchase program on Friday, February 23rd that authorizes the company to repurchase shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of General Mills stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total value of $517,492.80. Following the completion of the sale, the insider now owns 36,089 shares of the company’s stock, valued at approximately $2,143,686.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.40% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Avestar Capital LLC purchased a new position in shares of General Mills during the 4th quarter worth $100,000. Truewealth LLC purchased a new position in shares of General Mills during the 4th quarter worth $119,000. Grove Bank & Trust boosted its stake in shares of General Mills by 322.7% during the 3rd quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock worth $127,000 after acquiring an additional 1,878 shares during the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of General Mills during the 4th quarter worth $131,000. Finally, Tradewinds Capital Management LLC boosted its stake in shares of General Mills by 127.3% during the 3rd quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock worth $135,000 after acquiring an additional 1,459 shares during the last quarter. Institutional investors and hedge funds own 74.23% of the company’s stock.
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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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