Zacks Investment Research upgraded shares of General Mills, Inc. (NYSE:GIS) from a sell rating to a hold rating in a report released on Thursday, November 2nd.
According to Zacks, “General Mills' consumer-focused innovation, marketing initiatives and robust restructuring savings are making up for the sluggish revenue growth. The company is currently pursuing several initiatives focused on improving operational efficiency to generate cost savings and support its key growth strategies. By fiscal 2018, the company expects to achieve cost savings through increased efficiency, reduced complexity through SKU optimization, further supply chain optimization and continued expansion of zero-based budgeting across the business, which will result in accelerated margin expansion. However, General Mills' shares have underperformed the industry so far this year. Slowing organic volumes are overshadowing minor improvements in profit margins. Earnings estimates for the current quarter and the year have been revised downward by 3.5% and 1%, respectively, over the last 60 days, reflecting analyst concerns surrounding the stock.”
Other equities research analysts also recently issued reports about the company. BidaskClub upgraded General Mills from a hold rating to a buy rating in a report on Tuesday, August 22nd. Citigroup Inc. reiterated a buy rating and set a $67.00 target price on shares of General Mills in a report on Thursday, September 21st. Morgan Stanley reiterated an equal weight rating and set a $52.00 target price (down from $55.00) on shares of General Mills in a report on Thursday, September 21st. Royal Bank Of Canada set a $62.00 target price on General Mills and gave the company a hold rating in a report on Wednesday, August 2nd. Finally, BMO Capital Markets reiterated a hold rating on shares of General Mills in a report on Tuesday, August 8th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $56.60.
General Mills (NYSE GIS) opened at $53.52 on Thursday. The company has a market capitalization of $30,826.68, a PE ratio of 18.02, a PEG ratio of 2.02 and a beta of 0.63. The company has a quick ratio of 0.47, a current ratio of 0.74 and a debt-to-equity ratio of 1.83. General Mills has a twelve month low of $49.65 and a twelve month high of $64.06.
General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.79 billion. General Mills had a return on equity of 39.82% and a net margin of 10.68%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 earnings per share. equities research analysts anticipate that General Mills will post 3.1 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a yield of 3.66%. General Mills’s dividend payout ratio is currently 70.25%.
Large investors have recently added to or reduced their stakes in the stock. Lenox Wealth Advisors Inc. boosted its position in General Mills by 0.8% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock valued at $102,000 after purchasing an additional 15 shares during the period. Cable Hill Partners LLC boosted its position in General Mills by 274.5% during the 3rd quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after purchasing an additional 1,647 shares during the period. Grove Bank & Trust boosted its position in General Mills by 322.7% during the 3rd quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock valued at $127,000 after purchasing an additional 1,878 shares during the period. Tradewinds Capital Management LLC boosted its position in General Mills by 127.3% during the 3rd quarter. Tradewinds Capital Management LLC now owns 2,605 shares of the company’s stock valued at $135,000 after purchasing an additional 1,459 shares during the period. Finally, Spectrum Management Group Inc. acquired a new position in General Mills during the 3rd quarter valued at approximately $135,000. Institutional investors and hedge funds own 71.32% of the company’s stock.
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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