General Mills, Inc. (NYSE:GIS) was downgraded by stock analysts at Sanford C. Bernstein from a “market perform” rating to an “underperform” rating in a report released on Tuesday.
GIS has been the subject of a number of other reports. Wells Fargo & Co reiterated a “market perform” rating on shares of General Mills in a report on Tuesday, December 27th. Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a report on Friday, March 10th. Royal Bank of Canada downgraded General Mills from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $73.00 to $69.00 in a report on Thursday, December 15th. Barclays PLC lowered their price target on General Mills from $66.00 to $64.00 and set an “equal weight” rating for the company in a report on Wednesday, December 21st. Finally, Deutsche Bank AG assumed coverage on General Mills in a report on Wednesday, February 15th. They issued a “hold” rating and a $61.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. General Mills has an average rating of “Hold” and a consensus target price of $66.35.
Shares of General Mills (NYSE:GIS) opened at 60.26 on Tuesday. General Mills has a 12-month low of $58.70 and a 12-month high of $72.95. The firm has a market cap of $34.95 billion, a P/E ratio of 22.50 and a beta of 0.56. The firm has a 50-day moving average price of $61.33 and a 200-day moving average price of $62.51.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $1.92 dividend on an annualized basis and a yield of 3.19%. General Mills’s payout ratio is currently 71.64%.
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In related news, Director Robert L. Ryan sold 20,000 shares of the company’s stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $60.83, for a total transaction of $1,216,600.00. Following the completion of the transaction, the director now directly owns 54,676 shares in the company, valued at approximately $3,325,941.08. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.30% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Penserra Capital Management LLC increased its position in shares of General Mills by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,728 shares of the company’s stock worth $110,000 after buying an additional 864 shares during the last quarter. Lenox Wealth Advisors Inc. raised its position in shares of General Mills by 0.7% in the third quarter. Lenox Wealth Advisors Inc. now owns 1,790 shares of the company’s stock worth $114,000 after buying an additional 12 shares during the period. Advisory Services Network LLC raised its position in shares of General Mills by 2.5% in the third quarter. Advisory Services Network LLC now owns 1,985 shares of the company’s stock worth $127,000 after buying an additional 48 shares during the period. Jacobi Capital Management LLC raised its position in shares of General Mills by 400.0% in the third quarter. Jacobi Capital Management LLC now owns 2,500 shares of the company’s stock worth $158,000 after buying an additional 2,000 shares during the period. Finally, Perennial Advisors LLC acquired a new position in shares of General Mills during the fourth quarter worth about $165,000. Hedge funds and other institutional investors own 69.77% 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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