General Mills (NYSE:GIS) Sets New 1-Year Low - Here's Why

Key Points

• General Mills shares reached a new **52-week low** of $48.19, with a recent trading price of **$48.27** and a trading volume of approximately **893,644 shares**.
• Despite the low stock price, analysts have mixed ratings, with an average target price of **$55.82** and a consensus rating of **"Hold"** from 19 analysts.
• The company recently declared a **quarterly dividend** of **$0.61**, resulting in an annual yield of **5.0%**, which is aimed at attracting income investors.

Shares of General Mills, Inc. (NYSE:GIS - Get Free Report) reached a new 52-week low on Monday . The company traded as low as $48.19 and last traded at $48.27, with a volume of 893644 shares changing hands. The stock had previously closed at $49.34.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GIS shares. Wall Street Zen raised shares of General Mills from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Wells Fargo & Company set a $53.00 price target on shares of General Mills and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Royal Bank Of Canada upgraded shares of General Mills from a "sector perform" rating to an "outperform" rating and dropped their price target for the stock from $67.00 to $63.00 in a research note on Thursday, June 26th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Mills from $52.00 to $50.00 and set a "hold" rating for the company in a research note on Thursday, September 18th. Finally, Bank of America lowered their target price on General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Four equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $55.82.

General Mills Price Performance

The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66. The company has a market cap of $25.81 billion, a P/E ratio of 9.16, a P/E/G ratio of 1.24 and a beta of -0.03. The firm's fifty day moving average is $49.78 and its two-hundred day moving average is $52.66.

General Mills (NYSE:GIS - Get Free Report) last released its quarterly earnings data on Wednesday, September 17th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.04. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.52 billion. General Mills had a return on equity of 23.46% and a net margin of 15.24%.The business's quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 earnings per share. As a group, analysts anticipate that General Mills, Inc. will post 4.36 earnings per share for the current fiscal year.

General Mills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.61 dividend. The ex-dividend date is Friday, October 10th. This represents a $2.44 annualized dividend and a yield of 5.0%. General Mills's payout ratio is presently 46.12%.

Insider Buying and Selling at General Mills

In other news, insider Jacqueline Williams-Roll sold 4,000 shares of General Mills stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $50.04, for a total value of $200,160.00. Following the sale, the insider directly owned 66,593 shares of the company's stock, valued at approximately $3,332,313.72. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Garde Capital Inc. increased its position in General Mills by 101.5% in the second quarter. Garde Capital Inc. now owns 524 shares of the company's stock worth $27,000 after purchasing an additional 264 shares during the last quarter. Armstrong Advisory Group Inc. bought a new stake in shares of General Mills in the 2nd quarter worth about $32,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of General Mills during the 1st quarter valued at about $34,000. GKV Capital Management Co. Inc. bought a new position in shares of General Mills in the 1st quarter valued at about $34,000. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new position in General Mills in the first quarter worth about $37,000. 75.71% of the stock is currently owned by institutional investors.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.

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