General Mills (NYSE:GIS) Given “Hold” Rating at BMO Capital Markets

BMO Capital Markets reiterated their hold rating on shares of General Mills (NYSE:GIS) in a research note published on Thursday, AnalystRatings.com reports.

Several other brokerages also recently issued reports on GIS. Citigroup upped their price target on shares of General Mills from $64.00 to $70.00 and gave the company a neutral rating in a report on Thursday. ValuEngine downgraded shares of General Mills from a hold rating to a sell rating in a report on Monday, June 8th. Piper Sandler upped their price target on shares of General Mills from $71.00 to $73.00 and gave the company an overweight rating in a report on Thursday. Stifel Nicolaus reduced their price target on shares of General Mills from $62.00 to $60.00 and set a hold rating on the stock in a report on Thursday, July 2nd. Finally, Sanford C. Bernstein downgraded shares of General Mills from a market perform rating to an underperform rating and reduced their price target for the company from $57.00 to $50.00 in a report on Thursday, June 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $63.56.

Shares of General Mills stock opened at $59.67 on Thursday. General Mills has a 52-week low of $46.59 and a 52-week high of $66.14. The company has a quick ratio of 0.49, a current ratio of 0.68 and a debt-to-equity ratio of 1.31. The company’s 50-day simple moving average is $61.91 and its 200-day simple moving average is $60.28. The firm has a market cap of $36.45 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 2.22 and a beta of 0.59.

General Mills (NYSE:GIS) last released its quarterly earnings data on Wednesday, September 23rd. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.13. General Mills had a net margin of 12.37% and a return on equity of 27.66%. The firm had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. Equities research analysts anticipate that General Mills will post 3.53 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be given a dividend of $0.51 per share. This is a positive change from General Mills’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $2.04 annualized dividend and a yield of 3.42%. General Mills’s dividend payout ratio is 54.29%.

In related news, insider Shawn P. Ogrady sold 44,147 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $64.50, for a total transaction of $2,847,481.50. Following the completion of the transaction, the insider now owns 185,213 shares of the company’s stock, valued at $11,946,238.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Richard C. Allendorf sold 13,897 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $64.72, for a total transaction of $899,413.84. Following the transaction, the general counsel now directly owns 98,562 shares of the company’s stock, valued at approximately $6,378,932.64. The disclosure for this sale can be found here. Insiders have sold 60,711 shares of company stock valued at $3,920,384 in the last ninety days. 0.51% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of GIS. Atria Investments LLC bought a new stake in shares of General Mills during the 2nd quarter valued at $5,233,000. Two Sigma Advisers LP increased its stake in General Mills by 63.8% in the 2nd quarter. Two Sigma Advisers LP now owns 2,573,200 shares of the company’s stock worth $158,638,000 after acquiring an additional 1,002,600 shares during the last quarter. Demars Financial Group LLC increased its stake in General Mills by 7.0% in the 2nd quarter. Demars Financial Group LLC now owns 4,059 shares of the company’s stock worth $250,000 after acquiring an additional 264 shares during the last quarter. Elevated Capital Advisors LLC bought a new position in General Mills in the 2nd quarter worth about $712,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in General Mills by 14.3% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 790,069 shares of the company’s stock worth $48,708,000 after acquiring an additional 98,788 shares during the last quarter. 72.40% of the stock is owned by hedge funds and other institutional investors.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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