General Mills, Inc. (NYSE:GIS)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $50.14 and last traded at $50.19, with a volume of 4,371,298 shares traded. The stock had previously closed at $51.40.
GIS has been the topic of several analyst reports. Royal Bank Of Canada set a $62.00 price target on General Mills and gave the company a “hold” rating in a report on Wednesday, August 2nd. BidaskClub upgraded General Mills from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research upgraded General Mills from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Friday, September 15th. Wells Fargo & Company lowered their price target on General Mills from $56.00 to $53.00 and set a “market perform” rating on the stock in a report on Friday, September 22nd. Finally, Stifel Nicolaus lowered their price target on General Mills from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, June 29th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. General Mills has a consensus rating of “Hold” and a consensus target price of $56.75.
The firm’s 50 day moving average is $53.66 and its 200-day moving average is $55.82. The firm has a market capitalization of $28.96 billion, a P/E ratio of 18.26 and a beta of 0.61.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.79 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. Equities analysts anticipate that General Mills, Inc. will post $3.08 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Friday, October 6th. General Mills’s payout ratio is presently 70.25%.
Hedge funds have recently bought and sold shares of the stock. Flossbach Von Storch AG acquired a new position in General Mills in the 2nd quarter valued at $227,578,000. Janus Henderson Group PLC grew its holdings in General Mills by 3,178.6% in the 2nd quarter. Janus Henderson Group PLC now owns 2,611,312 shares of the company’s stock valued at $144,666,000 after buying an additional 2,531,664 shares in the last quarter. Federated Investors Inc. PA grew its holdings in General Mills by 94.6% in the 2nd quarter. Federated Investors Inc. PA now owns 4,516,168 shares of the company’s stock valued at $250,196,000 after buying an additional 2,195,397 shares in the last quarter. Morgan Stanley grew its holdings in General Mills by 29.4% in the 1st quarter. Morgan Stanley now owns 7,055,040 shares of the company’s stock valued at $416,318,000 after buying an additional 1,603,577 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in General Mills by 26.1% in the 1st quarter. Bank of New York Mellon Corp now owns 7,013,411 shares of the company’s stock valued at $413,862,000 after buying an additional 1,449,632 shares in the last quarter. 70.45% of the stock is currently owned by institutional investors and hedge funds.
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General Mills Company Profile
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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