General Mills (NYSE:GIS) hit a new 52-week high and low on Friday . The company traded as low as $43.55 and last traded at $43.45, with a volume of 2367727 shares traded. The stock had previously closed at $44.03.
GIS has been the topic of a number of research reports. JPMorgan Chase reduced their price objective on General Mills to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, March 22nd. Argus restated a “hold” rating on shares of General Mills in a research report on Wednesday, December 27th. TheStreet lowered General Mills from a “b-” rating to a “c+” rating in a research report on Monday, April 2nd. Piper Jaffray restated a “hold” rating and set a $49.00 price objective on shares of General Mills in a research report on Thursday, March 22nd. Finally, Zacks Investment Research lowered General Mills from a “hold” rating to a “sell” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $53.71.
The stock has a market cap of $25,453.33, a P/E ratio of 14.30, a PEG ratio of 2.01 and a beta of 0.76. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.69 and a quick ratio of 0.45.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, March 21st. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.01. General Mills had a return on equity of 37.64% and a net margin of 13.96%. The firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.87 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The business’s revenue was up 2.3% on a year-over-year basis. equities analysts expect that General Mills will post 3.09 earnings per share for the current year.
The business also recently declared 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. The ex-dividend date is Monday, April 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.52%. General Mills’s dividend payout ratio (DPR) is presently 63.64%.
General Mills announced that its board has approved a share repurchase plan on Friday, February 23rd that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. boosted its position in shares of General Mills by 10.3% during the 4th quarter. American International Group Inc. now owns 9,960,631 shares of the company’s stock valued at $590,566,000 after purchasing an additional 932,891 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of General Mills by 13.5% during the 4th quarter. Bank of New York Mellon Corp now owns 8,499,301 shares of the company’s stock valued at $503,923,000 after purchasing an additional 1,009,126 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of General Mills by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 6,261,796 shares of the company’s stock valued at $370,514,000 after purchasing an additional 146,687 shares in the last quarter. Valueinvest Asset Management S.A. boosted its position in shares of General Mills by 3.4% during the 4th quarter. Valueinvest Asset Management S.A. now owns 3,525,000 shares of the company’s stock valued at $208,997,000 after purchasing an additional 116,100 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in shares of General Mills by 0.9% during the 4th quarter. Westwood Holdings Group Inc. now owns 3,137,952 shares of the company’s stock valued at $186,049,000 after purchasing an additional 26,896 shares in the last quarter. Hedge funds and other institutional investors own 74.22% of the company’s stock.
About General Mills
General Mills, Inc manufactures and markets branded consumer foods in the United States. The company operates in four segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; and Asia & Latin America. 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, shelf stable and frozen vegetables, and ice cream and frozen desserts, as well as grain, fruit and savory snacks; and various organic products, including nutrition bars, meal kits, salty snacks, and ready-to-eat cereal.
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