Goldman Sachs upgraded shares of General Mills (NYSE:GIS) from a sell rating to a neutral rating in a research note published on Wednesday morning, Marketbeat Ratings reports. Goldman Sachs currently has $47.00 price objective on the stock.
Other research analysts have also issued reports about the stock. JPMorgan Chase cut their target price on shares of General Mills from $56.00 to $54.00 and set a neutral rating for the company in a report on Wednesday, March 14th. Jefferies Group raised shares of General Mills from a hold rating to a buy rating and set a $56.00 target price for the company in a report on Wednesday, February 14th. Susquehanna Bancshares set a $61.00 target price on shares of General Mills and gave the company a hold rating in a report on Friday, February 23rd. Zacks Investment Research raised shares of General Mills from a hold rating to a buy rating and set a $58.00 target price for the company in a report on Thursday, March 15th. Finally, Piper Jaffray reissued a hold rating and issued a $49.00 target price on shares of General Mills in a report on Thursday, March 22nd. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $53.43.
Shares of GIS opened at $41.82 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 0.69 and a debt-to-equity ratio of 1.34. General Mills has a 1 year low of $41.01 and a 1 year high of $60.69. The company has a market cap of $24.36 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 1.86 and a beta of 0.76.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.69%. The ex-dividend date was Monday, April 9th. General Mills’s payout ratio is 63.64%.
General Mills declared that its board has approved a stock repurchase program on Friday, February 23rd that permits the company to buyback shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently bought and sold shares of GIS. BlackRock Inc. boosted its stake in General Mills by 9.3% during the first quarter. BlackRock Inc. now owns 47,261,193 shares of the company’s stock worth $2,129,588,000 after buying an additional 4,033,152 shares during the period. Schroder Investment Management Group lifted its position in shares of General Mills by 36.4% during the first quarter. Schroder Investment Management Group now owns 4,915,769 shares of the company’s stock worth $221,504,000 after purchasing an additional 1,311,067 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of General Mills by 5.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 23,083,806 shares of the company’s stock worth $1,040,156,000 after purchasing an additional 1,285,436 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of General Mills by 13.5% during the fourth quarter. Bank of New York Mellon Corp now owns 8,499,301 shares of the company’s stock worth $503,923,000 after purchasing an additional 1,009,126 shares during the last quarter. Finally, American International Group Inc. lifted its position in shares of General Mills by 10.3% during the fourth quarter. American International Group Inc. now owns 9,960,631 shares of the company’s stock worth $590,566,000 after purchasing an additional 932,891 shares during the last quarter. 73.99% of the stock is owned by institutional investors.
General Mills Company Profile
General Mills, Inc manufactures and markets branded consumer foods in the United States. The company operates in four segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; and Asia & Latin America. 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, shelf stable and frozen vegetables, and ice cream and frozen desserts, as well as grain, fruit and savory snacks; and various organic products, including nutrition bars, meal kits, salty snacks, and ready-to-eat cereal.
Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.