Shares of General Mills (NYSE:GIS) hit a new 52-week high and low during trading on Thursday . The stock traded as low as $43.73 and last traded at $43.96, with a volume of 4894774 shares. The stock had previously closed at $44.73.
Several analysts recently commented on GIS shares. Zacks Investment Research downgraded General Mills from a “hold” rating to a “sell” rating in a research note on Tuesday. Credit Suisse Group reaffirmed a “hold” rating and set a $55.00 price objective on shares of General Mills in a research note on Tuesday, March 20th. BMO Capital Markets reaffirmed a “neutral” rating on shares of General Mills in a research note on Friday, December 22nd. Barclays reaffirmed a “hold” rating and set a $48.00 price objective on shares of General Mills in a research note on Friday, March 23rd. Finally, UBS dropped their price objective on General Mills from $58.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, March 22nd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $53.71.
The firm has a market capitalization of $25,055.00, a PE ratio of 14.09, a PEG ratio of 1.97 and a beta of 0.76. The company has a quick ratio of 0.45, a current ratio of 0.69 and a debt-to-equity ratio of 1.34.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, March 21st. The company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.87 billion. General Mills had a return on equity of 37.64% and a net margin of 13.96%. General Mills’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. equities analysts expect that General Mills will post 3.09 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend is Monday, April 9th. General Mills’s payout ratio is 63.64%.
General Mills declared that its Board of Directors has authorized a stock buyback plan 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. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its holdings in shares of General Mills by 24.4% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 171,673 shares of the company’s stock valued at $10,178,000 after acquiring an additional 33,688 shares in the last quarter. Colonial Trust Advisors grew its holdings in shares of General Mills by 7.2% in the 4th quarter. Colonial Trust Advisors now owns 50,963 shares of the company’s stock valued at $3,022,000 after acquiring an additional 3,442 shares in the last quarter. Penbrook Management LLC bought a new position in shares of General Mills in the 4th quarter valued at about $228,000. Xact Kapitalforvaltning AB grew its holdings in shares of General Mills by 9.3% in the 4th quarter. Xact Kapitalforvaltning AB now owns 77,215 shares of the company’s stock valued at $4,578,000 after acquiring an additional 6,575 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of General Mills by 4.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 149,200 shares of the company’s stock valued at $8,846,000 after acquiring an additional 6,943 shares in the last quarter. Institutional investors own 74.22% of the company’s stock.
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General Mills Company Profile
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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