General Mills, Inc. (NYSE:GIS) Stock Rated “Reduce” by Sell-Side Brokerages

General Mills, Inc. (NYSE:GIS) has been given a consensus rating of “Reduce” by the twenty analysts that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $36.59.

Several analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of General Mills from $31.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday, July 2nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $45.00 target price on shares of General Mills in a research note on Monday, September 21st. Piper Sandler reiterated an “overweight” rating on shares of General Mills in a report on Thursday, September 24th. Bank of America reissued a “neutral” rating on shares of General Mills in a research report on Thursday, September 24th. Finally, Wells Fargo & Company boosted their price objective on shares of General Mills from $30.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, July 2nd.

Hedge Funds Weigh In On General Mills

A number of hedge funds have recently bought and sold shares of the business. MCF Advisors LLC raised its position in shares of General Mills by 7.8% during the second quarter. MCF Advisors LLC now owns 3,812 shares of the company’s stock worth $133,000 after acquiring an additional 277 shares during the last quarter. Triumph Capital Management lifted its stake in shares of General Mills by 45.0% in the second quarter. Triumph Capital Management now owns 915 shares of the company’s stock worth $32,000 after acquiring an additional 284 shares during the period. HB Wealth Management LLC boosted its holdings in General Mills by 0.6% in the first quarter. HB Wealth Management LLC now owns 48,145 shares of the company’s stock valued at $1,792,000 after acquiring an additional 309 shares during the last quarter. Bruce G. Allen Investments LLC boosted its holdings in General Mills by 139.8% in the fourth quarter. Bruce G. Allen Investments LLC now owns 578 shares of the company’s stock valued at $27,000 after acquiring an additional 337 shares during the last quarter. Finally, Clearstead Trust LLC increased its position in General Mills by 73.8% during the 1st quarter. Clearstead Trust LLC now owns 810 shares of the company’s stock valued at $30,000 after purchasing an additional 344 shares during the period. Hedge funds and other institutional investors own 75.71% of the company’s stock.

General Mills Stock Up 1.7%

GIS stock opened at $32.21 on Wednesday. The business has a 50 day moving average of $37.04 and a 200 day moving average of $35.91. The firm has a market cap of $17.22 billion, a PE ratio of -19.40, a price-to-earnings-growth ratio of 1.71 and a beta of 0.03. General Mills has a twelve month low of $31.17 and a twelve month high of $51.26. The company has a quick ratio of 0.39, a current ratio of 0.70 and a debt-to-equity ratio of 1.66.

General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 23rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. General Mills had a positive return on equity of 21.86% and a negative net margin of 4.89%.The business had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.35 billion. During the same period in the previous year, the company posted $0.86 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, research analysts forecast that General Mills will post 3.08 EPS for the current fiscal year.

General Mills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Tuesday, October 13th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $2.44 annualized dividend and a dividend yield of 7.6%. General Mills’s dividend payout ratio (DPR) is -146.99%.

General Mills Company Profile

General Mills, Inc is a global food company that manufactures and markets branded consumer foods. Its products include cereal, snack bars, refrigerated dough, baking mixes, yogurt, soup, meals, frozen foods, and pet food, serving retail, foodservice, and pet channels.

The company’s portfolio includes well-known brands such as Cheerios, Betty Crocker, Pillsbury, Nature Valley, Yoplait, Häagen-Dazs, Old El Paso, Progresso, Totino’s, Annie’s, and Blue Buffalo. General Mills sells its products primarily in the United States and also serves consumers in international markets across multiple regions.

General Mills traces its history to the Minneapolis Milling Company, established in 1856, and adopted the General Mills name following a 1928 combination of several milling businesses.