General Mills Inc. (GIS) Trading Down 1.7%
General Mills Inc. (NYSE:GIS) shares dropped 1.7% during trading on Wednesday . The company traded as low as $69.23 and last traded at $69.74, with a volume of 2,746,555 shares traded. The stock had previously closed at $70.97.
GIS has been the subject of a number of research analyst reports. Bank of America Corp. reiterated a “hold” rating on shares of General Mills in a report on Thursday, July 14th. Goldman Sachs Group Inc. cut General Mills from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $62.70 to $58.00 in a research report on Tuesday, May 24th. Citigroup Inc. restated a “buy” rating on shares of General Mills in a research report on Sunday, May 22nd. Stifel Nicolaus restated a “buy” rating and set a $66.00 price objective on shares of General Mills in a research report on Friday, April 8th. Finally, Royal Bank Of Canada boosted their price objective on General Mills from $70.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, June 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. General Mills presently has an average rating of “Hold” and an average price target of $66.64.
The stock has a 50-day moving average price of $69.94 and a 200-day moving average price of $63.11. The stock has a market capitalization of $41.66 billion and a price-to-earnings ratio of 25.19.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, June 29th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. The company earned $3.93 billion during the quarter, compared to the consensus estimate of $3.86 billion. The company’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 EPS. Analysts anticipate that General Mills Inc. will post $3.11 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 11th were given a $0.48 dividend. This is a boost from General Mills’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Thursday, July 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.75%.
In other General Mills news, VP Jerald A. Young sold 27,890 shares of the company’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $72.03, for a total value of $2,008,916.70. Following the sale, the vice president now owns 86,271 shares in the company, valued at approximately $6,214,100.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter C. Erickson sold 83,850 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $71.90, for a total value of $6,028,815.00. Following the completion of the sale, the executive vice president now owns 213,669 shares in the company, valued at approximately $15,362,801.10. The disclosure for this sale can be found here.
Several large investors recently added to or reduced their stakes in the stock. Freestone Capital Holdings LLC bought a new stake in General Mills during the fourth quarter worth approximately $1,048,000. Toronto Dominion Bank raised its stake in General Mills by 4.1% in the fourth quarter. Toronto Dominion Bank now owns 19,971 shares of the company’s stock worth $1,151,000 after buying an additional 781 shares during the period. GSA Capital Partners LLP raised its stake in General Mills by 57.4% in the fourth quarter. GSA Capital Partners LLP now owns 20,036 shares of the company’s stock worth $1,155,000 after buying an additional 7,306 shares during the period. Howland Capital Management LLC raised its stake in General Mills by 3.0% in the fourth quarter. Howland Capital Management LLC now owns 20,717 shares of the company’s stock worth $1,195,000 after buying an additional 600 shares during the period. Finally, Pittenger & Anderson Inc. raised its stake in General Mills by 3.6% in the fourth quarter. Pittenger & Anderson Inc. now owns 24,820 shares of the company’s stock worth $1,431,000 after buying an additional 860 shares during the period.
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is also a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company is organized into three operating segments: U.S.
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