General Mills, Inc. (NYSE:GIS) Receives Average Recommendation of “Hold” from Brokerages

Shares of General Mills, Inc. (NYSE:GIS) have received a consensus recommendation of “Hold” from the seven ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $61.50.

A number of research firms have commented on GIS. Morgan Stanley downgraded shares of General Mills from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $57.00 to $51.00 in a research report on Tuesday, September 21st. Royal Bank of Canada boosted their price target on shares of General Mills from $65.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 23rd. Jefferies Financial Group began coverage on shares of General Mills in a research report on Thursday, September 23rd. They set a “hold” rating and a $64.00 price target on the stock. Citigroup upgraded shares of General Mills from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $63.00 to $70.00 in a research report on Thursday, September 30th. Finally, Credit Suisse Group cut shares of General Mills from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $68.00 to $63.00 in a research note on Monday, September 13th.

In related news, insider Jonathon Nudi sold 9,725 shares of the business’s stock in a transaction that occurred on Wednesday, October 6th. The shares were sold at an average price of $61.45, for a total transaction of $597,601.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Richard C. Allendorf sold 9,731 shares of the business’s stock in a transaction that occurred on Friday, October 1st. The shares were sold at an average price of $60.54, for a total transaction of $589,114.74. The disclosure for this sale can be found here. Insiders sold a total of 52,964 shares of company stock worth $3,224,438 in the last ninety days. Corporate insiders own 0.53% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of GIS. Meridian Wealth Partners LLC acquired a new stake in General Mills in the first quarter valued at approximately $27,000. Benjamin Edwards Inc. acquired a new stake in General Mills in the third quarter valued at approximately $27,000. Herold Advisors Inc. acquired a new stake in General Mills in the third quarter valued at approximately $29,000. SRS Capital Advisors Inc. acquired a new stake in General Mills in the second quarter valued at approximately $33,000. Finally, Tompkins Financial Corp acquired a new stake in General Mills in the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

NYSE:GIS traded down $0.14 during mid-day trading on Friday, hitting $63.30. The stock had a trading volume of 1,484,458 shares, compared to its average volume of 3,905,660. General Mills has a 52 week low of $53.96 and a 52 week high of $64.65. The stock has a market capitalization of $38.34 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 2.18 and a beta of 0.52. The company has a 50 day simple moving average of $61.74 and a 200-day simple moving average of $60.81. The company has a current ratio of 0.78, a quick ratio of 0.54 and a debt-to-equity ratio of 1.03.

General Mills (NYSE:GIS) last released its quarterly earnings results on Tuesday, September 21st. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. General Mills had a net margin of 12.72% and a return on equity of 24.61%. The company had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the previous year, the firm earned $1.00 EPS. General Mills’s revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts anticipate that General Mills will post 3.8 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 1st. Stockholders of record on Friday, December 10th will be paid a $0.51 dividend. The ex-dividend date is Friday, January 7th. This represents a $2.04 annualized dividend and a dividend yield of 3.22%. General Mills’s dividend payout ratio is currently 54.11%.

General Mills Company Profile

General Mills, Inc engages in the manufacture and marketing of branded consumer foods sold through retail stores. It operates through the following segments: North America Retail, Europe & Australia, Convenience Stores & Foodservice, Pet and Asia & Latin America. The North America Retail segment includes grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains and e-commerce grocery providers.

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Analyst Recommendations for General Mills (NYSE:GIS)

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