General Mills, Inc. (NYSE:GIS)’s share price traded down 0.4% on Thursday after Zacks Investment Research downgraded the stock from a buy rating to a hold rating. The stock traded as low as $44.79 and last traded at $45.31. 5,012,663 shares changed hands during trading, an increase of 5% from the average session volume of 4,763,559 shares. The stock had previously closed at $45.51.
Several other research firms have also recently weighed in on GIS. Argus reaffirmed a “hold” rating on shares of General Mills in a research note on Wednesday, December 27th. BMO Capital Markets reissued a “neutral” rating on shares of General Mills in a research note on Friday, December 22nd. Susquehanna Bancshares set a $61.00 price target on General Mills and gave the company a “hold” rating in a research note on Friday, January 5th. Piper Jaffray Companies raised General Mills from an “underweight” rating to a “neutral” rating and set a $63.00 price target for the company in a research note on Wednesday, January 3rd. Finally, Credit Suisse Group set a $60.00 price target on General Mills and gave the company a “hold” rating in a research note on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company’s stock. General Mills presently has an average rating of “Hold” and a consensus target price of $54.32.
In related news, insider Bethany C. Quam sold 8,712 shares of the business’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 completion of the sale, the insider now directly owns 36,089 shares in the company, valued at approximately $2,143,686.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of GIS. Nationwide Fund Advisors lifted its holdings in General Mills by 20.7% in the 3rd quarter. Nationwide Fund Advisors now owns 309,726 shares of the company’s stock worth $16,031,000 after purchasing an additional 53,049 shares during the last quarter. Korea Investment CORP lifted its holdings in shares of General Mills by 3.9% during the third quarter. Korea Investment CORP now owns 251,996 shares of the company’s stock worth $13,043,000 after buying an additional 9,500 shares during the last quarter. First Bank & Trust lifted its holdings in shares of General Mills by 12.2% during the third quarter. First Bank & Trust now owns 14,340 shares of the company’s stock worth $742,000 after buying an additional 1,562 shares during the last quarter. Calamos Advisors LLC lifted its holdings in shares of General Mills by 3.8% during the third quarter. Calamos Advisors LLC now owns 68,979 shares of the company’s stock worth $3,570,000 after buying an additional 2,529 shares during the last quarter. Finally, Excalibur Management Corp lifted its holdings in shares of General Mills by 75.2% during the third quarter. Excalibur Management Corp now owns 14,573 shares of the company’s stock worth $754,000 after buying an additional 6,254 shares during the last quarter. Hedge funds and other institutional investors own 74.20% of the company’s stock.
The stock has a market capitalization of $25,897.18, a price-to-earnings ratio of 11.82, a P/E/G ratio of 1.93 and a beta of 0.72. The company has a quick ratio of 0.53, a current ratio of 0.69 and a debt-to-equity ratio of 1.34.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, March 21st. The company reported $0.79 EPS for the quarter, topping 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 company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period in the previous year, the company earned $0.72 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. research analysts anticipate that General Mills, Inc. will post 3.1 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Monday, April 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.43%. General Mills’s dividend payout ratio (DPR) is presently 52.41%.
General Mills declared that its Board of Directors has approved a share repurchase program on Friday, February 23rd that allows the company to buyback shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
ILLEGAL ACTIVITY WARNING: “General Mills (GIS) Stock Price Down 0.4% on Analyst Downgrade” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The original version of this piece of content can be read at https://ledgergazette.com/2018/03/24/general-mills-gis-stock-price-down-0-4-on-analyst-downgrade.html.
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.
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.