General Mills, Inc. (GIS) Lifted to “Hold” at Zacks Investment Research
General Mills, Inc. (NYSE:GIS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “General Mills' consumer-focused innovation, marketing initiatives and robust restructuring savings are making up for the sluggish revenue growth. Sales and profits at the U.S. Retail segment, contributing 60% to sales, have been soft due to lower demand amid changing consumer food preferences. The company is on track to achieve its cost savings target for fiscal 2018 as it forges ahead with its margin expansion efforts. Though various initiatives helped improve the top line in segments like cereals and snacks in fiscal 2016, we believe a material improvement will take time. The company’s shares have also underperformed the Zacks categorized Food-Miscellaneous/Diversified industry year-to-date.”
Other analysts have also recently issued reports about the company. Barclays PLC dropped their target price 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. Wells Fargo & Co restated a “hold” rating on shares of General Mills in a report on Tuesday, December 20th. Royal Bank of Canada restated a “hold” rating on shares of General Mills in a report on Sunday, March 12th. Deutsche Bank AG initiated coverage on General Mills in a report on Wednesday, February 15th. They issued a “hold” rating and a $61.00 target price for the company. Finally, Credit Suisse Group AG restated a “neutral” rating and issued a $65.00 target price on shares of General Mills in a report on Thursday, February 2nd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. General Mills currently has an average rating of “Hold” and an average target price of $66.35.
General Mills (NYSE:GIS) traded down 0.157% during mid-day trading on Monday, hitting $60.565. The company had a trading volume of 1,808,084 shares. General Mills has a 52-week low of $58.70 and a 52-week high of $72.95. The company has a 50-day moving average price of $61.33 and a 200 day moving average price of $62.51. The company has a market capitalization of $35.13 billion, a P/E ratio of 22.616 and a beta of 0.56.
The company also recently announced 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. This represents a $1.92 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Thursday, April 6th. General Mills’s payout ratio is 71.64%.
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In related news, Director Robert L. Ryan sold 20,000 shares of the stock in a transaction dated 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 transaction, the director now owns 54,676 shares of the company’s stock, valued at approximately $3,325,941.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of GIS. Lenox Wealth Advisors Inc. raised its stake in 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 in the last quarter. BKD Wealth Advisors LLC raised its stake in General Mills by 0.5% in the third quarter. BKD Wealth Advisors LLC now owns 3,581 shares of the company’s stock worth $229,000 after buying an additional 19 shares in the last quarter. LLBH Private Wealth Management LLC raised its stake in General Mills by 0.5% in the third quarter. LLBH Private Wealth Management LLC now owns 5,027 shares of the company’s stock worth $321,000 after buying an additional 25 shares in the last quarter. Piershale Financial Group Inc. raised its stake in General Mills by 0.7% in the third quarter. Piershale Financial Group Inc. now owns 4,357 shares of the company’s stock worth $278,000 after buying an additional 29 shares in the last quarter. Finally, Thomaspartners Inc. raised its stake in General Mills by 0.7% in the third quarter. Thomaspartners Inc. now owns 5,004 shares of the company’s stock worth $320,000 after buying an additional 34 shares in the last quarter. 69.77% of the stock is currently owned by hedge funds and other institutional investors.
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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