General Mills, Inc. (GIS) To Go Ex-Dividend on April 10th

General Mills, Inc. (NYSE:GIS) announced a quarterly dividend on Monday, January 26th. Stockholders of record on Friday, April 10th will be given a dividend of 0.61 per share on Friday, May 1st. This represents a c) annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend is Friday, April 10th.

General Mills has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 5 years. General Mills has a dividend payout ratio of 58.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect General Mills to earn $4.46 per share next year, which means the company should continue to be able to cover its $2.44 annual dividend with an expected future payout ratio of 54.7%.

General Mills Stock Down 2.4%

General Mills stock opened at $36.78 on Wednesday. General Mills has a fifty-two week low of $35.63 and a fifty-two week high of $59.49. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.36 and a current ratio of 0.56. The company has a market capitalization of $19.63 billion, a P/E ratio of 8.99 and a beta of 0.01. The stock has a 50-day simple moving average of $42.56 and a 200-day simple moving average of $45.51.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, March 18th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.09). General Mills had a net margin of 12.05% and a return on equity of 19.19%. The firm had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the previous year, the firm posted $1.12 earnings per share. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. Equities research analysts expect that General Mills will post 4.36 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on GIS. Morgan Stanley dropped their price target on General Mills from $47.00 to $44.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 18th. Wells Fargo & Company cut General Mills from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $45.00 to $35.00 in a research report on Thursday, March 12th. Piper Sandler dropped their price target on General Mills from $53.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Sanford C. Bernstein dropped their price target on General Mills from $53.00 to $48.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. dropped their price target on General Mills from $42.00 to $36.00 and set an “underweight” rating on the stock in a research report on Thursday, March 19th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $43.56.

General Mills Company Profile

General Mills, Inc (NYSE: GIS) is a multinational consumer foods company that develops, manufactures and markets a broad portfolio of branded food products. Its product categories include ready-to-eat and hot cereals, baking mixes and ingredients, snacks and bars, refrigerated and frozen doughs, yogurt and other dairy products, and a variety of shelf-stable meals and meal components. The company’s portfolio features widely recognized consumer brands across grocery store, mass channel and foodservice outlets.

Founded in the early 20th century and incorporated under its current name in 1928, General Mills has grown through both internal brand development and strategic expansion to become a global food company.