Shares of General Mills, Inc. (NYSE:GIS) have earned an average rating of “Hold” from the twenty-one brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $52.21.
A number of brokerages recently issued reports on GIS. Zacks Investment Research restated a “strong-buy” rating on shares of General Mills in a research report on Thursday, May 30th. Bank of America restated a “neutral” rating and issued a $49.00 price target on shares of General Mills in a research report on Friday, May 17th. Credit Suisse Group raised their price target on General Mills from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. UBS Group raised their price target on General Mills from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, June 27th. Finally, Evercore ISI began coverage on General Mills in a research report on Tuesday, June 11th. They issued an “in-line” rating and a $56.00 price target for the company.
Hedge funds have recently added to or reduced their stakes in the business. Legacy Advisors LLC purchased a new stake in General Mills in the first quarter worth $31,000. Certified Advisory Corp increased its stake in General Mills by 100.9% in the first quarter. Certified Advisory Corp now owns 643 shares of the company’s stock worth $33,000 after purchasing an additional 323 shares during the period. Meridian Wealth Management LLC purchased a new stake in General Mills in the first quarter worth $35,000. BDO Wealth Advisors LLC purchased a new stake in General Mills in the fourth quarter worth $37,000. Finally, Penserra Capital Management LLC purchased a new stake in General Mills in the first quarter worth $40,000. Institutional investors and hedge funds own 69.77% of the company’s stock.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, June 26th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The firm had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.24 billion. General Mills had a return on equity of 27.67% and a net margin of 10.39%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 EPS. On average, equities research analysts forecast that General Mills will post 3.37 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.96 dividend on an annualized basis and a yield of 3.62%. General Mills’s payout ratio is 60.87%.
General Mills Company Profile
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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