General Mills, Inc. (NYSE:GIS) declared a quarterly dividend on Wednesday, December 20th, RTT News reports. Shareholders of record on Wednesday, January 10th will be given a dividend of 0.49 per share on Thursday, February 1st. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Tuesday, January 9th.
General Mills has increased its dividend by an average of 6.4% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. General Mills has a dividend payout ratio of 62.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect General Mills to earn $3.26 per share next year, which means the company should continue to be able to cover its $1.96 annual dividend with an expected future payout ratio of 60.1%.
General Mills (NYSE GIS) traded down $0.24 during mid-day trading on Friday, hitting $57.85. The company’s stock had a trading volume of 2,585,259 shares, compared to its average volume of 3,055,700. General Mills has a 1 year low of $49.65 and a 1 year high of $63.73. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.81 and a quick ratio of 0.53. The stock has a market cap of $32,920.00, a P/E ratio of 21.19, a price-to-earnings-growth ratio of 2.64 and a beta of 0.66.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.82. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the business earned $0.85 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. research analysts forecast that General Mills will post 3.12 earnings per share for the current year.
Several research firms recently weighed in on GIS. Bank of America cut their price target on General Mills from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, September 21st. Citigroup restated a “buy” rating and issued a $67.00 price target on shares of General Mills in a research note on Thursday, September 21st. Credit Suisse Group restated a “neutral” rating and issued a $53.00 price target on shares of General Mills in a research note on Monday, September 25th. Susquehanna Bancshares restated a “hold” rating and issued a $58.00 price target on shares of General Mills in a research note on Tuesday, September 19th. Finally, 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 research note on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the stock. General Mills currently has a consensus rating of “Hold” and a consensus target price of $58.17.
In related news, insider Bethany C. Quam sold 8,712 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $59.40, for a total value of $517,492.80. Following the transaction, the insider now directly owns 36,089 shares of the company’s stock, valued at approximately $2,143,686.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.
About General Mills
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.
Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.