General Mills, Inc. (NYSE:GIS) – Research analysts at Gabelli upped their FY2018 earnings per share (EPS) estimates for General Mills in a report issued on Monday, Zacks Investment Research reports. Gabelli analyst S. Donnelly now anticipates that the company will post earnings of $3.20 per share for the year, up from their prior forecast of $3.10. Gabelli has a “Hold” rating on the stock. Gabelli also issued estimates for General Mills’ FY2019 earnings at $3.40 EPS, FY2021 earnings at $3.90 EPS and FY2022 earnings at $4.15 EPS.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.82. General Mills had a return on equity of 38.89% and a net margin of 10.29%. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the prior year, the firm posted $0.85 EPS. General Mills’s quarterly revenue was up 2.1% compared to the same quarter last year.
A number of other brokerages have also recently issued reports on GIS. Wells Fargo & Co raised General Mills from a “market perform” rating to an “outperform” rating and set a $63.00 target price for the company in a report on Monday, December 18th. Argus reissued a “hold” rating on shares of General Mills in a report on Wednesday, December 27th. Zacks Investment Research lowered General Mills from a “hold” rating to a “sell” rating in a research report on Tuesday, November 21st. Jefferies Group upgraded General Mills from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Wednesday, February 14th. Finally, Credit Suisse Group set a $62.00 price target on General Mills and gave the stock a “hold” rating in a research report on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.43.
Shares of General Mills (NYSE GIS) traded down $0.18 on Tuesday, hitting $51.81. The stock had a trading volume of 4,580,000 shares, compared to its average volume of 4,870,000. General Mills has a fifty-two week low of $49.65 and a fifty-two week high of $61.34. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.53 and a current ratio of 0.81. The firm has a market cap of $29,480.00, a PE ratio of 18.98, a PEG ratio of 2.15 and a beta of 0.72.
General Mills declared that its board has authorized a share buyback plan on Friday, February 23rd that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the stock in a transaction 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 in the company, valued at approximately $2,143,686.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in GIS. American International Group Inc. lifted its stake in shares of General Mills by 1,708.4% in the 3rd quarter. American International Group Inc. now owns 9,027,740 shares of the company’s stock valued at $467,276,000 after purchasing an additional 8,528,534 shares during the period. Janus Henderson Group PLC lifted its stake in shares of 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 purchasing an additional 2,531,664 shares during the period. Stifel Financial Corp lifted its stake in shares of General Mills by 28,570.2% in the 3rd quarter. Stifel Financial Corp now owns 1,671,471 shares of the company’s stock valued at $86,610,000 after purchasing an additional 1,665,641 shares during the period. American Century Companies Inc. lifted its stake in shares of General Mills by 15.9% in the 3rd quarter. American Century Companies Inc. now owns 11,295,701 shares of the company’s stock valued at $584,665,000 after purchasing an additional 1,550,074 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of General Mills by 13.5% in 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 during the period. Hedge funds and other institutional investors own 74.34% of the company’s stock.
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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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